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alstry (35.44)

Cramer Ripped a BIG ONE....and deserves it!!!!!!!!!!!!!!!!!!

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August 25, 2008 – Comments (2)

Dear Mr Cramer,

I am upset at the story you put out over the weekend regarding housing and yet another prediction  of a bottom, this time in seven months.

I believe you are intentionally deceiving people. Calling the bottom to housing using a variety of bad indicators and rampant speculation is wrong. I am giving you the benefit of the doubt by saying you are ‘deceiving’ people because there is no way you are this naive about the housing and mortgage markets.

But of course, due to my distaste for much of your shotgun-approach research that costs so many so much, I thought I would spend a couple of hours and prove once again that these problems are very deep and throwing out a quick-read story citing a couple of low-level statistics is absolutely worthless when trying to dissect the future of housing and mortgage finance.

 

To read the full analysis, I strongly suggest clicking on the link below.

 

http://mrmortgage.ml-implode.com/2008/08/24/cramer-calls-another-housing-bottompuh-leeeze-enough-is-enough/

 

Mr. Mortgage's work is clear and comprehensive.  A must read for those who like quality work and exposing BSers.

2 Comments – Post Your Own

#1) On August 25, 2008 at 10:19 PM, nuf2bdangrus (< 20) wrote:

Cramer is trapped in the same paradigm that most wall streeters are....They live in a paper economy that has always made profits from other people's production.  The problem is, Easy Al and Bucks for all Ben kept pumping more easy $ into the system. It's over.  And it will end the way it always does.  Tears.

 

Booyah 

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#2) On August 25, 2008 at 11:08 PM, ChrisGraley (29.87) wrote:

Actually, I pretty much agree that the bottom in housing hasn't occurred yet. There are still plenty of bad loans that have yet to default. Banks have used a little accounting magic to preserve stock price in the last quarter. That can't last for long. Fannie and Freddie are both doomed. In fact Freddie is already bankrupt in any  real accounting evaluation.  Builders are still hoarding inventory because any significant sale would show how liitle the properties are worth. I might of missed it, but has anybody seen demand for homes on the rise? Especially since a lot fewer people will even qualify under the new lending guidelines. I got agree with a ex-hedgefund manager, when he's talking about the blood still being in the water.

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