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Jim Cramer- good or bad for business?

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Aug 6, 2005 7:44 pm

Yep, it sure is.  My clients get all the direct benefit and I get all the referrals.

Aug 7, 2005 2:51 am

[quote=Greenhills]

So, I'm an investor and I also happen to be a long term trader. I could give a darn what Wall Street says about a stock.  And don't even get me started on mutual funds which are the biggest rip off, junk in the world. 

[/quote]

When you assemble stock portfolios for your clients, you're pretty much setting up miniature customized mutual funds for each client.  I'm pretty confident that you're not outperforming the entire mutual fund universe with your professional stock picking, so to generalize and call all mutual funds junk just shows your ignorance.  Prove to us that you've beaten the 20-year performance of say, MPGFX or DODGX and I'll concede.  Until that point, I'll tell you that you're doing your clients a disservice by not considering professional portfolio management for your clients.

You've got a long way to go to convince me that your way is best.

Aug 7, 2005 5:06 am

[quote=Indyone][quote=Greenhills]

So, I'm an investor and I also happen to be a long term trader. I could give a darn what Wall Street says about a stock.  And don't even get me started on mutual funds which are the biggest rip off, junk in the world. 

[/quote]

When you assemble stock portfolios for your clients, you're pretty much setting up miniature customized mutual funds for each client.  I'm pretty confident that you're not outperforming the entire mutual fund universe with your professional stock picking, so to generalize and call all mutual funds junk just shows your ignorance.  Prove to us that you've beaten the 20-year performance of say, MPGFX or DODGX and I'll concede.  Until that point, I'll tell you that you're doing your clients a disservice by not considering professional portfolio management for your clients.

You've got a long way to go to convince me that your way is best.

[/quote]

Big difference between mutual funds and an individualized stock portfolio, trust me.  You should go back and learn more, sir!

XOXO

Aug 7, 2005 5:09 am

[quote=Greenhills]

Hmmm...trader v's investor.  So how do you define investor?  Someone who waits for the analysits to tell us what is going to happen with earnings two years down the road and then extrapolate how that will affect the growth in stock price?  Boy that sure is a successful way to throw away your money and your clients.

In my opinion most persons who call themselfs investors are actually speculators and many of the true investors are the technical traders.  Charts dont lie.  Analysists do all the time.  

So, I'm an investor and I also happen to be a long term trader. I could give a darn what Wall Street says about a stock.  And don't even get me started on mutual funds which are the biggest rip off, junk in the world. 

More traders are investors than these fools throwing away their money by following what Wall Street and their broker who knows next to nothing usually is telling them.

[/quote]

You sound like a guy I know by the name of Dorsey....

Aug 7, 2005 5:18 am
Starka:

Good thing you know more than the rest of those poor, benighted fools…

Aug 8, 2005 2:56 am

[quote=joedabrkr]

Big difference between mutual funds and an individualized stock portfolio, trust me.  You should go back and learn more, sir!

XOXO

[/quote]

Joe, I'm getting older and frankly, I'm tired of all this learning...makes my head hurt!  I'll grant you that there are differences related to tax efficiency and customization.  At the same time, I'm a believer that in the end, it's ultimately about performance.  Sure, past performance is no guarantee of future results, etc., but a consistently good manager has a better chance that I do of consistently picking winning stocks.  Frankly, if I could consistently beat the best fund managers, that's what I'd be doing for a living.  Until then, I believe that fund managers, carefully chosen, have a place at the table for me and most of my clients.

I finally came to this realization after closing out losing positions in both Enron and Worldcom in my IRA.  While I chose some winners, it's pretty painful to close out losing positions in an IRA where you can't even get a tax break for your mistakes.  That was when I decided to let the pros manage my IRA while I played stock picker in a smaller taxable account where I at least get a tax break for my mistakes.  If you can beat a top drawer fund manager in picking stocks, then bully for you!  By all means, go ahead.  My guess, though, is that most of us can't, and many who think they can are only kidding themselves.

That's my two cents to the debate...it might not work for you, but it's worked well for me over the years...

BTW, you get your 24 done?  Just curious how it was...

Aug 8, 2005 5:34 am

[quote=Indyone][quote=joedabrkr]

Big difference between mutual funds and an individualized stock portfolio, trust me.  You should go back and learn more, sir!

XOXO

[/quote]

Joe, I'm getting older and frankly, I'm tired of all this learning...makes my head hurt!  I'll grant you that there are differences related to tax efficiency and customization.  At the same time, I'm a believer that in the end, it's ultimately about performance.  Sure, past performance is no guarantee of future results, etc., but a consistently good manager has a better chance that I do of consistently picking winning stocks.  Frankly, if I could consistently beat the best fund managers, that's what I'd be doing for a living.  Until then, I believe that fund managers, carefully chosen, have a place at the table for me and most of my clients.

I finally came to this realization after closing out losing positions in both Enron and Worldcom in my IRA.  While I chose some winners, it's pretty painful to close out losing positions in an IRA where you can't even get a tax break for your mistakes.  That was when I decided to let the pros manage my IRA while I played stock picker in a smaller taxable account where I at least get a tax break for my mistakes.  If you can beat a top drawer fund manager in picking stocks, then bully for you!  By all means, go ahead.  My guess, though, is that most of us can't, and many who think they can are only kidding themselves.

That's my two cents to the debate...it might not work for you, but it's worked well for me over the years...

BTW, you get your 24 done?  Just curious how it was...

[/quote]

Passed my 24 with a 86.  It was challenging.  I got the worst of my 'crunch time' work out in the first 2 weeks, and then I would work all day, and study for a couple of hours each night after dinner.  I haven't watched TV in a while. LOL.

I'm not saying mutual funds are evil.  But, there are so many mediocre managers out there, and so much $$ has gone into funds in the last decade or so....many of them are just closet 'indexers'.  Hard to explain this all in one reasonably succint post.

How many funds have CSCO MSFT and GE all in their top 10 holdings.....?

Aug 8, 2005 5:36 am

[quote=Indyone][quote=joedabrkr]

Big difference between mutual funds and an individualized stock portfolio, trust me.  You should go back and learn more, sir!

XOXO

[/quote]

Joe, I'm getting older and frankly, I'm tired of all this learning...makes my head hurt!  I'll grant you that there are differences related to tax efficiency and customization.  At the same time, I'm a believer that in the end, it's ultimately about performance.  Sure, past performance is no guarantee of future results, etc., but a consistently good manager has a better chance that I do of consistently picking winning stocks.  Frankly, if I could consistently beat the best fund managers, that's what I'd be doing for a living.  Until then, I believe that fund managers, carefully chosen, have a place at the table for me and most of my clients.

I finally came to this realization after closing out losing positions in both Enron and Worldcom in my IRA.  While I chose some winners, it's pretty painful to close out losing positions in an IRA where you can't even get a tax break for your mistakes.  That was when I decided to let the pros manage my IRA while I played stock picker in a smaller taxable account where I at least get a tax break for my mistakes.  If you can beat a top drawer fund manager in picking stocks, then bully for you!  By all means, go ahead.  My guess, though, is that most of us can't, and many who think they can are only kidding themselves.

That's my two cents to the debate...it might not work for you, but it's worked well for me over the years...

BTW, you get your 24 done?  Just curious how it was...

[/quote]

BTW I only had 3 clients who owned Enron, 2 of 3 unsolicited.  All sold at 20 or better.

Worldcom I didn't keep my eye on the ball and got hit a little harder there.

Sold all my Lucent at 25, for those who would listen.  Others were blinded by 'the fundamentals', and 'it's a good company'.  Well.....a good company is not always a good stock!

Didn't own a single share of Kmart.

How many of the folks posting on here didn't even have their 7 when this stuff went on? 

Aug 18, 2005 3:04 am

what happened to Larry Kudlow