Why Jim Cramer's Mad Money Makes Me Mad!
Yes Jim Cramer has way more experience. Yes Jim Cramer knows a lot more about the market and its history. Yes Jim Cramer is much more richer than I am.
However, this has to do with what I read last night on his Mad Money recap and his ideas of the casino/gambling stocks. For months and even back to early 2008, he has had callers call in and ask about the notorious WYNN and LVS stocks as well as others less well-known. All this time he has said how they are so bad and risky and have horrible charts, etc. Well we all know where LVS was a few months ago at under $2 a share. So he seemed smart. Although I felt skeptical and have been following LVS for a long time. I have always felt it was way undervalued despite it having a badly negative EPS.
Well the callers kept calling and it just didn't make sense what Jim Cramer was saying - even when LVS was at $4!. He seems to ignore stocks like this or talk down about them like he has with ATVI for a long time too. (You can see both LVS and ATVI as thumbs DOWN from him going back to 2008 and still today). Not going to go into either stock but looking at them logically, they are solid forces in their industries and have huge potential in the future. I mean he is dissing ATVI, the undisputed leader in video games today with future epic releases at the end of 2009 and during 2010.
Yesterday 7-21-09, suddenly now that LVS is at $10/share - and probably not much more room to go this year at least, he says: "yada yada LVS, misleading, potential,... oh Fitzpatrick thinks LVS is a buy based on the technicals".
Now this is where I get to my point and what I have seen Cramer do for a long time. He won't recommend stocks that are down in the dumps with huge potential for uprising even though it seems logical they do. We aren't talking about companies approaching bankruptcy, we are talking about companies that are hit just like every other stock. What he does is wait until the stock will OBVIOUSLY show good technicals by relying on recent TRENDS and by the time he says anything positive, the stock has already made its big move and stops because it is valued correctly for the time being.
Just look at when he finally said BAC was a good buy when it was around $10. That's over a $6/share loss for those relying on him to give you the go.