I like Jim Cramer. I didn't always, but...
This blog is about why I like Jim Cramer. It may be a good idea to begin such a blog by observing alot of the criticisms that are frequently aimed at Cramer.
-hes a momentum guy
-he's a shill for hedge funds, working to screw over his viewers by helping hedgies pump and dump
-he's a criminal
-he flops too much
-he is a mean, bad man
I realize that TV is TV and one should never assume that what one sees on TV is real. But he claims that the "lightning round" is never rehearsed. Kass has claimed the same thing on RealMoney Silver. And lets face it, his knowledge of stocks is absolutely epic if that is true. If the lightning round is not staged, and he has comments on 98% of the stocks people ask about which is absolutely amazing. If thats real, that alone is evidence that he is clearly wildly intelligent. I know some wildly intelligent people that are into stocks and I'm reasonably smart, and I can't even remembereverything htats in my own portfolio... But, then, I can't remember to not lock myself out of my house or where I parked or when my girlfriends birthdays are or how old I am, so thats not a very good comparison. Its true, I frequently mis-quote my own age by +/- 1 year. Ex girlfriends always know and correct me when I'm wrong, which is annoying when I mis-quote to the downside and happy when I accidentally told someone I'm older than I actually am. lol
And his columsn on RealMoney Silver ... folks, IMHO, Cramer is a momentum guy. Not htat there isn't any thought or experience to the momentum, but he is a momentum guy IMO. But some of his articles are very good, very well thought out.
And while Cramer rarely gets credit the way that, say, Doug Kass gets credit for calling the March bottom, Cramer has made a variety of extremely good calls on broad macro type things. That C and AIG were big systemic risks (i saw that in a youtube video), his much-ballyhood "they know nothing" rant which was recently rec'd by no less than Tim Geitner, his call that housing would drop up to 40% (house prices), his call of the housing bottom (assuming it holds, he called +/- 1 month long ahead of the apparent bottom) and so forth.
And he had a fairly remarkable performance record as a hedge fund manager. I think i've seen 28% for 10 or so years somewhere.
Now, mind, I don't ever buy or rsell based on Mad Money. He has thumbs-downed far, far, far, more stocks that I was holding or buying that he's thumbs-upped. DOW, MTW, LVS, MGM and more come to mind. But thats a style difference, he likes momentum and I like catching falling knives.
Porte, Awall, if you read this, I added some ATPG options today though not many (its a falling knife the last couple days, I like that alot better). If it hits 10 i'll back up a truck. I refuse to do any due dilligence on it, its all on you guys. :)
But enough ATPG chatter, I've come to enjoy cramers commentary and respect that while his perspective and style is greatly different than mine, he is, in my opinion, clearly a very smart guy very able to offer some interesting commentary.