Jim Cramer

[NajdorfDefense]

Cramer stopped managing money at end of 2000:
http://www.usatoday.com/money/perfi/funds/0022.htm

Therefore, it would have been impossible to lose anyone else's money in 2002, or still be a money manager. DUCY?

[crosse91]

If you were blindly following Cramer's advice in 2000 (presumably for the decade), would you not have sold off in 2002 when he told you too? What were his "10 picks" worth when he wrote to Get the F Out?

[NajdorfDefense]

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If you were blindly following Cramer's advice in 2000

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You mean after he specifically, and on a daily basis, on the radio and in print, told you not to do that? Isn't that a really stupid question?

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would you not have sold off in 2000 when he told you too?

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Since multiple people here can't tell that 2002<> 2000, I'll repost-

Here is Cramer less than a month later:
'I can only tell you what I have done. I have taken money out and put some of it in a New Jersey municipal-bond account that Vanguard has. It allows me to sleep. It allows me to trade better. It allows me to feel that the down days are not going to change my lifestyle one whit. It gives me the freedom to be bigger and bolder with the money that remains in.

No, you won't get this kind of advice elsewhere because, long-term, stocks are the best investments so it makes no "theoretical sense" to put some assets into a tax-free AAA-rated municipal fund.
...With this piece, I will now drop this theme. I am getting too much email blasting me for this stance and I am just going to direct everybody to this piece. It is my last word on what to do with this market. '
March 27, 2000.


Again, if you did *everything* Cramer did you would have made over 30% in 2000 and then stopped trading and retired, like he did. The insistence on taking one half of one position from one blog post of his, and ignoring every other bit of trading and advice he gave in 2000 is both pusillanimous and absurd.

But since the facts go against the infinite wisdom of the n00bs here who don't have the faintest clue about his superior track record, or insanely great money mgmt skills, I'm sure we'll have 3 more posters unable to tell the difference btw 2000 and 2002, and ignoring JJC every time he says NOT TO BUY A STOCK WITHOUT DOING AT LEAST AN HOUR OF RESEARCH ON IT EVERY WEEK, UNTIL YOU TOTALLY AND FULLY UNDERSTAND IT, USING ONLY MONEY YOU CAN AFFORD TO LOSE.

Too many people at 2p2 are losers, in a very real sense, who seek only to blame others for their mistakes.

'ZOMG CRAMER told me GOOG was going up and it went DOWN THIS week, 8uxx0rs1!!!!!1111!. He's so dumm LOLzz!'

[crosse91]

no, i know fully cramer's track record and watch his show often. I had the opportunity to attend his taping last month @ UTexas and was astounded in the audience interaction he did and how knowledge he actually was.

I was in no way attacking you, Najdorf

[Jauerback]

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Um, no. You are completely wrong.

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nah dude im right....

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You seem to be relying on a post, one of tens of thousands, Cramer made on TSC about his 10 [not 5] favorite stocks to own on Feb 29th, 2000. We already mentioned this in the thread.

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nope. From one the most important investment books ever, Security Anaylsis, i quote "In February 2002, hedge fund manager James J. Cramer proclaimed that internet-related companies 'are the only ones worth owning right now.' These 'winners of the new world' as he called them, 'are the only ones that are going higher consistently in good days and bad.' Cramer's favorite stocks did not go 'higher consistently in good days and bad'. By year end 2002, one of the 10 had already gone bankrupt, and a $10,000 investment spread equally across Cramer's picks would have lost 94% leaving you with a grand total of $597.44."

To make that a mistake of that magnitude puts Cramer in the hack category. I know a few money managers that believe the same

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You don't have a clue on what you're talking about, do you?

[pig4bill]

Cramer knows his stuff. As noted, he was a successful hedge fund manager. He was never arrested, but he came thisssss close, reportedly for front-running his pumps on CNBC. He admitted illegally manipulating the market on that street.com video and all but admitted it on CNBC. I could hardly believe what I was hearing. Not that he did it, but that he would admit it.

He's still knowledgable and still has contacts, but you can't trust him. I've seen him pump crap that nobody in their right mind would pump if they'd done 10 minutes of fundy research. I think a lot of the time he pumps stock to get friends out that are stuck. So the problem is that on any given stock he recommends, you don't know if it's really good or it's crap that he's pumping for whatever reason.

BTW, he didnt just go to Harvard, he went to Harvard Law. There probably aren't many poor folks that went to that school.