I'm losing any respect I had for Cramer

[bobwatford123]

I saw a show last week, can't remember the date. Most of the first portion of the show was him pretty much saying "Buy overvalued stocks". That was this morons shtick. Buy overvalued stocks. Don't worry about valuations etc etc just go out and buy something. What an irrational boob. The markets dropping these last two days makes him look even more like an idiot. I really used to respect what he had to say for the most part, after wading through all the usual crap, but that just floored me. I really think he has lost his touch or is now even full of bad advice. A victim of his own foolishness, and just trying desperately to come up with something...anything. Talk about unsound financial advice. Sure I'll still watch him every now and then but his game is getting so old and bad.

[TYLER]

The thing I dislike about cramer is he doesn't practice what he preaches. He explained that good traders worry about making too much money and vise versa. Then hes crazy enough to recommend Nastech Pharmaceutical! The stock has lost about 50% since he had the CEO on the show a few days ago.

[Niketennis1]

nothing against you guys, but Cramer can't always be right. Even he says to not buy everything he says. You do the HW and then buy. You just don' t listen to Cramer and buy everything he talks about.

[TonyM]

I have much respect for Cramer, just not for his advice on a gimmicky channel like CNBC or anyplace else for that matter. No, my respect lies in the fact that he is a self-made millionaire. He gets paid and apparently he is getting paid to do something he likes, kudos to him. Now, if you want tips...become a waiter. If you want to become fabulously wealthy, take note of how those before you have acomplished the feat, follow the money not the sales pitch.

[bobwatford123]

Regardless, a guy like that giving advice to his Mad Money audience, many of which are probably morons to "Buy overvalued stocks" in a blanket statement is beyond idiotic and goes against everything he should be doing. It wasn't just that statement it was a bunch of other things he said, I can't really remember. If anyone else saw it I would think they'd agree with me. And no, I'm not looking for tips, I've never bought a stock recommended by Cramer in my life. I've read his book and watch his show periodically and think he is a smart guy. This was one of his idiotic moments and from what I could tell goes against everything he has ever said. Talk about irresponsible. I seriously was thinking when watching it that he had totally sold out and really had no business advising anyone on investing. I know it's just a gimmicky tv show but I really thought that even in that venue he wouldn't be that irresponsible.

[TonyM]

I think maybe you've missed my point, but that's ok. Let's just say that I thank JC for bringing the type of traders to the table that will take my bid or ask. Fresh blood is always in need of resupply.

[BuyOnDips]

The best thing Cramer does is he gets new investors into the game. I wish I would have started investing sooner. A lot of his college student audience will retire much wealthier because of his advice to invest in the stock market.

Cramer makes good picks and bad picks just like everybody else. Just try to cut your losers quickly and let the winners run. It sounds easy, but it's not.

Just because he mentions a stock, doesn't mean you should buy it. Do a little research first. Maybe even wait a Qtr to see how the stock trades and to hear a CC. Then decide if the pick is worthy of some of your money.

[bobwatford123]

Trust me I'm not one of those guys ragging on a bad stock pick from Cramer. Of course he is going to pick some good ones and bad ones and can't update 'Cramerica' every time he changes his mind on a stock. I'm just saying it was idiotic to do a segment on 'buy overvalued stocks' at the peak, or almost anytime. And the guy couldn't have timed it more wrong.
And no, it wasn't just "buy this certain stock, I know it's overvalued but it's going to keep on running"
It was "I don't care what it is or if it's overvalued just go out and buy something....anything" sort of blanket statements. It just goes against any of his teachings and could not have been said at more of an idiotic time. I don't ever hold the guy to his individual picks but think it is irresponsible to give his 'Cramaniacs' such idiotic advice on a macro basis. And as it turned out it was the worst advice he could have made.

[TonyM]

JC did have a show with Kudklow before didn't he? Surely they can't both be permabull sellouts, can they?

I don't see how this is so complicated; a corporation pays a man to say whatever it takes to get the herd to buy their product, said man makes money.

These are your equities...these are your equities on Cramer:lol:

[bobwatford123]

LOL

[TopsyTurvey]

I don't think I'll be looking at his program very much any more - some but not like in the past. I too have lost some respect for him - mainly for his wishy washy, changing in the middle of the stream, advice. Good examples are: Auy, RAD, NSTK, and to some extent NYX. I bought NYX when he recommended it at $96.00, then it proceeded to fall to $66.00 in which he started recommending a sell. I sold and lost many thousands of dollars but did keep some - thank god. He needs to encourage small investors like myself to stay the course and not panic. If he had done so, it would have saved me a lot of $. Same thing with Auy (Yamana Gold). For the better part of a year that is all he could talk about. I remember one guy called in from Calif and asked advice (on Yamana) as he was frightened and discouraged. Said that he had his entire retirement in Auy - and it was dropping like a rock at that time. As I recall, JC advised him to sell in increments until he was out. Well that guy probably did sell, and then what happens. Yamana goes up over $15.00 (it was $10.00). Now Rite Aid (one of his picks of the year) is on his s - - t list. I'm sticking with it.

He seems to follow the market too much. In other words if it's a tough day he is in the "get defensive" camp - things are looking bad. If it's a good day, he in the "buy and don't listen to the naysayers" camp - things are looking good.

To be fair, I have made money on some of his recommendations, but lost much more. I should have put $ in one of those lazy funds and I would be way ahead at this point.

Well enough rambling, it's just so dam frustrating and discouraging for a small investor like myself.

As a person, I like JC a lot, but I'm through thinking he is the "gru"

[munjalm]

I think the well-being of his picks are in the results... I'm currently using a small amount of money and trading $2500 in a Zecco account using advice that seems to follow logic for me... rather than blind following...

Also, I'm working on a project that is tracking Cramer's picks. I'm not too far along... but you can see what I have so far...

http://www.stocktiptrader.com/index.php?option=com_content&task=view&id=13&Itemid=31

The sub-links at the left will let you see it month by month.

[munjalm]

Overall he's not doing too bad... look at my project (in my sig) and you'll see that his picks are going with the market or better.

[BuyOnDips]

I thought his RAD pick was a big mistake. They have too much competition and too much debt. I thought that was a very risky pick to be touting(Maye he was just too early). Of course his show is called mad money. Everybody has bad picks. Warren Buffet invested in Pier One Imports and lost big bucks. I couldn't understand that investment either. Like Cramer says, one year his hedge fund lost $300 million bucks on picks, but his other picks that year made $400 million.

[Rich]

I think maybe you've missed my point, but that's ok. Let's just say that I thank JC for bringing the type of traders to the table that will take my bid or ask. Fresh blood is always in need of resupply.

TOO FUNNY !!! LOL

"""Another approach is to short Cramer's picks after they're announced."""
Here's the full story :-))
http://www.fool.com/investing/high-growth/2007/08/20/nobody-wants-cramer-to-lose.aspx

[freakscene]

I enjoy Cramer's TV show for his entertainment value. And if for nothing else, his zaniness is enough to keep my children somewhat interested in something most of their peers may not pay attention to their entire lives.

But as for his advice, during a show last week he actually said this:

paraphrasing;

"When I say sell a stock, I dont really mean sell" and
"When I say buy a stock I dont really mean buy"

he went on for what, 10,15, maybe 20 minutes rambling on those 2 points.

I feel badly for his "fans" that may have missed that show, and wait around for his next picks.

[Rich]

"When I say sell a stock, I dont really mean sell" and
"When I say buy a stock I dont really mean buy"

he went on for what, 10,15, maybe 20 minutes rambling on those 2 points.

I feel badly for his "fans" that may have missed that show, and wait around for his next picks.

What the heck??? What was he saying then?

[freakscene]

What the heck??? What was he saying then?

If memory is correct, and again paraphrasing:

"When I say buy a stock, I dont mean to "buy" it. What I mean thats when you should start paying attention to it. Do your homework. Watch it. Wait. Confirm. Then make a decision. And don't buy all at once. Buy 100 shares 25 at a time."


pretty much the same thing in opposite for sell.

it left me wondering if he knew what "buy" and "sell" meant. Of course he does, and knows far more about this than I ever may know, but the 20 minute segment left me wondering how many people he just confused.

[Rich]

I agree with you. But I also understand what he's saying. I remember seeing that show but missed some of it.

Lately he's been saying not to buy right away but wait a few days/week (s).

I like Jim, but he leaves too many things hanging.

Jim, heres a suggestion since you ignore the good ones many people try to send you.

1. your show is getting stale.
2. take some time like 10 minutes and ACTUALLY teach some REAL wall street lessons, not on how to trade but how to read charts, what terms mean, and USE VISUALS
3. Continue building on these classes every day.
4. Examine a company WITH VISUALS and disect the stock your suggesting with both technical and fundamentals.

If Jim did this, the show would explode! Instead we get the same worn out music, yelling, throwing things, camera movement that makes one dizzy. This new style would also take pressure off of him so he wouldn't have to pick several stocks for each show.

I would LOVE it if they get into a little basics and build upon them.

I won't hold my breath, but if Jim doesn't do something fast he's not going to be on very long, scroll down on this link and you will see that the Neilsen stats reveal his shows audience numbers are not that great, , he's really not being watched that much. http://mediamatters.org/items/200608080009

[BuyOnDips]

I thought his RAD pick was a big mistake. They have too much competition and too much debt. I thought that was a very risky pick to be touting(Maye he was just too early). Of course his show is called mad money. Everybody has bad picks. Warren Buffet invested in Pier One Imports and lost big bucks. I couldn't understand that investment either. Like Cramer says, one year his hedge fund lost $300 million bucks on picks, but his other picks that year made $400 million.

I scratched my head when Cramer was pumping RAD. I'd never bet on a company like that with so much debt and better competition. Anyway, the stock got boot stomped today. Nobody can pick all winners, but I thought RAD was a no brainer loser pick.

http://www.thestreet.com/_yahoo/newsanalysis/retail/10395479.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA