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awallejr (84.39)

I Swear Cramer Should Stop BSing his viewers

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January 30, 2012 – Comments (16) | RELATED TICKERS: ARCC , NLY

Time of the month for me paying my bills and I happened to have MadMoney on.  Usually I watch NCIS reruns or American Pickers  but I didn't change the channel.  Cramer is doing his lightening round segment, a segment I despise, and the stock questioned is ARCC.  My ears perk up since I happen to own it.  And what does he do?  He compares a BDC (ARCC) with a Mreit (NLY), 2 completely different companies in completely different sectors.

No one can possibly know all the companies in all the industries.  No one.  And I wish Cramer would stop the BS with the pretention that he does.  He doesn't.  He looks at cursory stats on his little computer screen and makes a judgement call without ever doing any detailed HOMEWORK, a concept he urges his viewers to do. 

Please Cramer, stop doing the damn lightening round.  While you might think it is entertaining, what you wind up doing is misinforming.

16 Comments – Post Your Own

#1) On January 31, 2012 at 12:00 AM, truthisntstupid (83.48) wrote:

Ha. What's Cramer advocating now, awallejr? Dividends? Momentum? Charts? I don't even know. I saw a few of his books once in a second-hand bookstore. I thought about picking one up out of curiosity.

Then I thought, absolutely none in my collection that are worth having would ever wind up in a second-hand bookstore. That saved me a couple dollars.

 

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#2) On January 31, 2012 at 12:08 AM, awallejr (84.39) wrote:

Irony is many pundits are touting what I did with my very first blog.  I kind of amuse myself when I opened an account with Fidelity in March of 2008.  I told my broker that the market will crash now.  He asked me why.  I said because they are waiting for me to invest.  And what happened?  We had the greatest crash during my lifetime ;/  Man talk about about bad timing.

Right now I like my portfolio.  I have a great income stream with potentially nice speculative payoffs down the road.  But as for Cramer, I swear the guy thinks entertainment is more important than giving good advice.  I admit he does make me laugh, but in the end there is nothing funny about people losing money.

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#3) On January 31, 2012 at 12:56 AM, goalie37 (96.09) wrote:

In honor of Cramer, I will not add anything insightful.  Instead I will type BUY BUY BUY and SELL SELL SELL with maybe a BOOYAH thrown in.

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#4) On January 31, 2012 at 1:19 AM, Acesnyper (< 20) wrote:

Anything taken on TV as fact and not entertainment, well all I can say is Caveat emptor.

 Did anyone see Southpark spoofing him? It was spot on.

I think he went from making a ton of money the hard way working to the easy way being a entertainer.  

 

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#5) On January 31, 2012 at 2:10 AM, BearishKW (< 20) wrote:

I think his track record is affords him the ability to make these judgement calls in the lightning round, but I agree the segment is really annoying.

What is supposed to be a rapid-paced segment is taken up mostly by mouth-breathers who need to "buh buh BOOOO YA" and give Cramer a synapsis of their meaningless existence...that is all in turn reinforced by them asking what they should do with AAPL.

It is painful to watch. 

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#6) On January 31, 2012 at 12:07 PM, motleyanimal (99.23) wrote:

The worst part of his show must be the "Are you diversified?" segment. If you are asking that question you really shouldn't be in the market.

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#7) On January 31, 2012 at 2:58 PM, eldemonio (99.15) wrote:

Jim Cramer's about as intelligent as a lobotomized Forrest Gump.  I'd follow the investing advice of a blindfolded monkey before buying or selling his picks. 

If you're interested in outperforming the S&P almost 45% of the time, then he's your man - TrackJimCramer.

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#8) On January 31, 2012 at 6:00 PM, awallejr (84.39) wrote:

H didn't red thumb ARCC, he simply compared it to a company in a totally different sector.  It is like being asked about buying VZ and he tells you to buy F.  The fact is he didn't know what business ARCC was really in.  That is why I hate his lightening round, he is passing judgment on companies with cursory knowledge.  It really is a disservice to his viewers.

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#9) On January 31, 2012 at 8:11 PM, kdakota630 (99.93) wrote:

awallejr

Your best line - "I told my broker that the market will crash now.  He asked me why.  I said because they are waiting for me to invest."

LOL!  I know the feeling.  It's why I can't buy Apple, and Apple continues to be a good investment.  Hey everyone who owns Apple stock, thank me for not buying it, because the day I do, they'll declare bankruptcy.

This is actually the first time I've heard anyone talk about Cramer since about a week after his Jon Stewart appearance.  Does anyone know what happened to his ratings after that?  I'm ever so curious.

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#10) On January 31, 2012 at 11:10 PM, Valyooo (99.91) wrote:

Cramer is the most understood guy out there.  Look at his average annual returns, they are sick.  He plays with an open hand.  When a stock he likes starts to act bad, he says sell...and people call him a flip flopper.  Why stay in a stock when it goes sour?  You have to know when to sell.

 

He looks at how money managers act, he doesnt need to know every detail about every company, even though he knows more about a broad range of companies than anybody else.  I didnt see your particular clip but if money managers treat BDC's and MReits the same, then it makes sense to own them.

 

Lightning round is garbage, as is his analysis of Mreits.  His analysis on sector rotation, market fundementals, sentiment, and managerial moves however is SPOT on.

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#11) On January 31, 2012 at 11:29 PM, dmawhinney (< 20) wrote:

Can we at least get the word LIGHTNING correct. Lightening is what happens to the sky in the morning and has nothing to do with a bolt from the blue or Cramer's segment.

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#12) On February 01, 2012 at 12:04 AM, awallejr (84.39) wrote:

dmawhinney you have to realize that many of my posts are scotch imbued, hence I make plenty spelling mistakes.

But Vally I don't think he is misunderstood.  He is a trader.  That is what he did for a living.  I don't challenge whether he was successful at it, but the past is the past. 

He threw all the pharma companies in the graveyard early last year, for example, and now he touts them.  The smart time WAS to buy them last year when they were selling lower than now.

He will tout companies at their high, yet miss his show when he changed his mind and you are screwed.

He will tell people to never buy and hold yet then he tells people to do exactly that when concerning dividends.

I am sorry, I respect his knowledge and experience, I just challenge his show where I think he hurts people more than he helps.

 

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#13) On February 01, 2012 at 12:21 AM, Valyooo (99.91) wrote:

hes not against buy and hold, hes against buy and forget...he just says it differently

if you are not around to see when he changed his mind and you get screwed, you deserve it for not having your own strategy

 

plus hes an openly admitting ke$ha fan I mean come on now.

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#14) On February 01, 2012 at 12:47 AM, awallejr (84.39) wrote:

Sorry Vally he has said that time and time again.  Don't buy and hold.  And then he tells people after  they make say double their money to sell half and buy and FORGET.  I am not lying.  he actually said that several times.

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#15) On February 01, 2012 at 12:56 AM, Valyooo (99.91) wrote:

he says buy and homework....buy, and keep doing research, and holding until the homewok says sell.   not like the people who guy "i am going to buy this with a 10 year horizon".  well what about those who said that about rimm in 2006? should they hold for another 4 years?

he says play with the houses money after a double...i dont like the strategy but it works sometimes.

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#16) On February 01, 2012 at 1:03 AM, awallejr (84.39) wrote:

When you start saying "house's money" then you are talking gambling not investing. I try to give people INVESTING ideas, no charge, for the love of the game.  Cramer does not.  Forewarned is forearmed.  I said this elsewhere.  Applicable here.

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