Jim Cramer- good or bad for business?

Not my business however he's bad for my eyes and ears.  Loud, obnoxious blowhard, sawed off, balding, self important, sweaty stooge.   Yuck.

He’s really interesting to watch if you can get past the yelling and screaming. As a matter of fact, watch the lightning round if you want to get a real chuckle…

Mr. Cramer…a former Goldman Sachs sales/trader.  He doesn’t look like Goldman material, now does he?

He is quite entertaining - if you can look through the hype, he does have some interesting points to make that do make you think

He pumps junk to the inexperienced investing public.  A complete chump and hack for Wall Street theifs in my opinion.  Do the opposite of what he says and you will be better off. 

Malcolm:

He pumps junk to the inexperienced investing public.  A complete chump and hack for Wall Street theifs in my opinion.  Do the opposite of what he says and you will be better off. 

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Good point, Malcolm. Also, check into the hedge fund he blew-up, a few years ago. Usually, one who rants and raves has very little in substance to convey.

He pumps MO. So you are saying that you would sell it?? He also advocates getting out of the smaller energy companies. I fail to see how that advice is bad…

Which smaller energy companies?  If you tell me, then I will respond if I have the time to each company. As far as MO goes, I am not saying every single thing he recommends is bad.  Even a blind squirral will find an acorn now and then.

In general, what I am saying is, his advice is bad.  Generally, when he says buy, the horse is already out of the barn and it is too late to make the trade. 

Are you, as a professional investor actually trying to say on here that this guy gives good advice?  Is this what you are saying??  IF so, I am glad I'm not one of your clients.       

Did you know that over the last ten years, if you tallied the returns of all the buy/hold recommendations by Wall Street firms and compared it to the returns of their sell recommendations the buys would have beat the sells only three years?  Do you actually believe what Wall Street is telling you to sell your clients? 

Get informed.  A good place to start is with Dr. Mark Faber. 

I have been trying to follow his leads. I know a month ago he stated 350 GOOGLE, before others.. It hit 300.

He also stated Amazon and Ebay would not go up like they did. Well both went up like 6 bucks in two days.

He is funny when he says get out of shoes and go into SOX. He also talked about the WalMart killers.. Aisle by aisle they are taking Walmarts profits.

He loves a lot of the biggest and best companies. LU. MSFT, INTL and others.

I do think he brings common sense with economic, supply & demand and other knowledge. He also challenges some CEO's and CFO's daily, but when INTL more or less hinted to a solid quarter he agreed and reccommended. INTL did not have a great quarter. GO AMD!

Some of his stocks reccommendations: C, DNA, MIK, TOL, WFMI, BBY, GME, AAPl, DKS, INTL, UNH, semiconducters, LU and MSFT

If we didn’t realize that CNBC patterns itself after ESPN before, we know it now.

Malcolm- It’s entertainment plain and simple centered around the stock market. I failed to understand what you were trying to say with the buys compared to the sells of the wall street firms. Are you trying to say that Wall Street is interested in making money for themselves?? I find that shocking…

Heres a tip,

Have your clients watch Jim for a week and then have them come back and see you, and guess what , they will take your advice

He will either drive them crazy or they will become traders, either way you won't waste your time, let Jim weed out the ones you haven't.............. 

Noggin

Are you trying to say there is nothing fundamentally wrong with Wall Street research when their buys underperform their sells consistently for the last ten years?

Are you an idiot? You find nothing wrong with this?  It goes beyond wanting to make money.  This is about being a fundamentally crooked industry.  And you're just fine with?

What a dope. 

Greenhills- I was using sarcasm. I had hoped that I wouldn’t have to explain that. I guess I should have. BTW, the name calling was especially funny…

I used to watch that junk a few years ago when I first went Indy and worked (schlepped) from home.  Cramer is a self inflated babboon.  Those people will put anything on their screen just to sell more advertising time to Morgan Stanley.  Ok MSDW people, don't be jumping on me cause I rode a phone over there too.  The people I knew in management were scum sucking a$$ kissers.

This Cramer guy has a website too.  He's just a salesman with friends in high places.  He'll make a killing and kill a lot of peoples lives.  Come to think of it whenever my clients tell me about Joe Kernan or someone that was on that show I always ask them if they ever heard a manager or CEO say to not buy his company?  If they tell me Kernan's not a fund manager and I tell them that's a good thing because if he was, SOMEBODY would be keeping up with his reccommendations.  And if he is so great, I'll bet my paycheck that he'd be keeping up with it AND IT WOULD BE ON THEIR SHOW FOR EVERYONE TO SEE HOW MUCH VALUE he adds.  Yeah right.

Why don't they get a real job on a soap opera?

Well said.  He’s a hack for ignorant, uninformed people. 

Kernan used to be a Pru broker in the 80’s by the way and Cramer…while knowledgable is pure entertatinment.  I like him but am not about to tell people to do what he says.  He is a trader NOT an investor. 

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.

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

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

[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=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

[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....

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

[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=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.....?

[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? 

what happened to Larry Kudlow