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Why Jim Cramer's Mad Money Makes Me Mad!

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July 22, 2009 – Comments (17) | RELATED TICKERS: WYNN , LVS , ATVI

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". 

You think?!!!

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.

17 Comments – Post Your Own

#1) On July 22, 2009 at 1:03 PM, ReadEmAnWeep (50.59) wrote:

What was the stock they said would let you cash in on the high speed internet for smart phones last night? I missed it.

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#2) On July 22, 2009 at 1:20 PM, motleyanimal (88.67) wrote:

Cramer has a strong bias against any stock trading under $10. So yeah, he missed the big run on BAC and will miss many others.

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#3) On July 22, 2009 at 1:49 PM, caterpillar10 wrote:

he tends toward the 18 month & up timeline w/relative safety (especially after bear-stearns) unless an event trade is specified......in the end he is 1 of many 'analysts' so if u feel different about something he's trashing then u gotta grab the ol'sackeroonie and weigh in ahead of him....:-)    

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#4) On July 22, 2009 at 1:59 PM, mikecart1 (98.83) wrote:

#1 I missed it but you can probably look up his recap picks on his webpage.

#2 Yeah but I see him recommending these mining and mineral stocks all the time - especially EGO, which was around $8-9 last time I saw him recommend it as a HUGE gainer like 3-4 months ago.  Guess what it is still under $10 LOL. 

#3 Agree, I just really hate him or anyone using technicals in a way to predict future share price by looking at what it has done recently WHILE at the same time preaching that PAST PERFORMANCE DOESN'T HAVE ANY INFLUENCE ON CURRENT PRICE.  Seems like a loophole in his thinking to me.

What I find even more funny or sad for those that follow his picking:

He has recently sold CAT and COP that he has preached for months weekly were "solid picks during this recession".  I mean what a hypocrite!

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#5) On July 22, 2009 at 2:16 PM, portefeuille (99.59) wrote:

If this "caps" game player trackjimcramer is a decent indication of his "stock picking" then he appears to be doing pretty much the opposite of what I do and that would be really nice since I think he is rather "uninspiring" and I have no idea why so many believe he is intelligent.

 

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#6) On July 22, 2009 at 3:21 PM, russiangambit (29.24) wrote:

I can't really judge Cramer objectively. I turn him off on the first Bouyaaaa, it gives me a headache.

But to criticize him for not recommending LVS , that is too much. They are a gamble, even now they are a gamble and his audience is an average Joe. The problem with Cramer and shows like that is that average Joe has no business picking the stocks by himself most of the time, and sometimes he should be out of stock completely. But don't expect to hear that on CNBC. "There is always a bull market somewhere", I disagree with that. During massive deleveraging there cannot be a bull market anywhere.

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#7) On July 22, 2009 at 3:56 PM, Schmacko (63.47) wrote:

I really think the "trackjimcrammer" account is poor representation of his picks.  I'm not trying to defend cramer but I really wouldn't judge him on that.

Also most of the casino stocks on a fundamental basis are still pretty risky plays.

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#8) On July 22, 2009 at 5:23 PM, TMFJake (74.28) wrote:

Schmako, I'm not sure why you think TrackJimCramer is a poor representation of Cramer's picks. Each night the MadMoney team publishes the picks that are mentioned on the show.  We take all of the Strong Buy and Strong Sell recommendations and enter them into CAPS.  We ignore the more ambiguous "Postive Mention" "Negative Mention" recommendations.

I think its a pretty good representation of his Mad Money calls.

 

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#9) On July 22, 2009 at 8:05 PM, portefeuille (99.59) wrote:

 

watch at least the cramer parts of that video!

 

 

 

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#10) On July 22, 2009 at 8:07 PM, portefeuille (99.59) wrote:

the best part starts at 5:24/10:00.

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#11) On July 22, 2009 at 8:14 PM, portefeuille (99.59) wrote:

another protagonist

 

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#12) On July 22, 2009 at 8:43 PM, portefeuille (99.59) wrote:

 

more great cramer footage at the start of this video.

 

 

 

 

 

"the motley fool headquarters"

 

 

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#13) On July 22, 2009 at 11:00 PM, TMFJake (74.28) wrote:

portefeuille, we have more grey hair, or less hair now. ;)

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#14) On July 23, 2009 at 6:32 AM, TMFBabo (100.00) wrote:

Cramer's advice is pure garbage.  You need to stop watching.

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#15) On July 24, 2009 at 1:15 AM, mikecart1 (98.83) wrote:

#9, That was some sad stuff at the end of the video.

"I don't even know the name of the stock, the letters are AMLN and double by Aug 1997"

Amylin Pharmaceuticals Inc (AMLN)

From Jan to July of 1997 ~ $13/share

August 1997 ~ $8/share

Mar 1998 ~ $2.50/share

Half their life savings in 2 stocks with this being one of them.

Let's just hope they didn't keep it for another 6 months Jesus!

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#16) On July 24, 2009 at 1:32 AM, portefeuille (99.59) wrote:

Buying AMLN in 1996 (1997 ?) and selling last year would actually have been a pretty good trade ...

 



enlarge

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#17) On July 24, 2009 at 1:40 AM, portefeuille (99.59) wrote:

The all-time low was $0.28 in October 1998, the all-time high was $53.25 in August 2007.

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