October 13, 2008

Say what you will, Cramer was spot-on

22 comments:

Ron said...

You say there is Panic, this is a short view of Euro style panic.

http://tiny.cc/LFfRf

USA panic will be neither orderly or quiet.

jim said...

Would th fact that bond trading is closed have anything to do with the rise in the dow?

Anonymous said...

Whooooot!!! Unlimited dollar free for all!!

It's time to party!! The Bubble Man is baaack baby!!!

Fed, central banks offer unlimited funds

Oh yeah, this is really great guys. This is really something to get excited about and have a big rally over.

Has anybody heard of hyperinflation?

DOPES!!!

Lost Cause said...

It ain't over till it's over, and it ain't over. Good point about percentages upside vs. downside. Light day today, banks are closed -- often see a rally on a day like this. But the month is not over.

Remember what happened in October of 1929. Huge swings before the ultimate fall. But then again in 1987 things went right back up, but that was kind of a one day event, same with 1997.

He could have made the point that the pricing of these stocks are using old data from the end of the bubble economy. I still don't think there are many bargains out there. Wish upon a start, and catch a falling knife.

jaws said...

I used to be a 401K believer, back in the 90's when I worked at a traditional job, and even preached it to colleagues - and made the maximum contribution for many years.

I don't think it's the way to go now. Having been self-employed for over a decade, I see the difference between traditional employment and self-employment. I've made a lot more money on the self-employment side than any 401K ever made me.

I think we're smarter to be self-sufficient to a certain extent and to think for ourselves. It seems to me that those who are more self-sufficient are better able to time events and avoid the land mines. Maybe that's because they're out on the street feeling the beat vs. rotting in a cubical.

keith said...

And to think all it took was a few trillion to save the banks

PARIS - Europe put $2.3 trillion on the line Monday to protect the continent's banks, a figure that dwarfs the Bush administration's $700 billion rescue program, in its most unified response yet to the global financial crisis after a stumbling start.


Where were the auditors?

DOPES 2 said...

H2's FOR EVERYONE!!!

GAS IS DOWN!!!

MY BUDDY TANGILO HAS SENT MY JINGLE MAIL BACK!!!

DOW UP 900+!!!

HP'ERS ARE SO F'KED!!!

ENJOY YOUR 1% CDS!!!

HYPERINFLATION COMING, INCUR AS MUCH DEBT AS POSSIBLE!!!!!

TOOLS!!

DOLTS!!

DOPES!!!!

brenda stevens said...

it's sort of funny that cramer didn't mention that many companies are expected to lay of employees after the election.... but maybe they won't....

if this happens, people will be made that they didn't listen to cramer "before the election."

personally, if the market gets back up, I'm shifting some funds before the next one.

Anonymous said...

Suzanne must have researched this for the Fed.

Crisis over.

Yee Haw.

Time to buy a Hummer.

eric in vegas said...

So what happens when the entire world starts printing money like crazy?

Anonymous said...

Cramer called a bottom on 7/30/08 at DOW 11600, funny he never mentioned that again. You're an idiot to listen to that idiot.

http://www.youtube.com/watch?v=UfVM2nvzzck

Anonymous said...

Investors are betting big on 3rd quarter profits! Without profits corporate loans can't be repaid.

Even if the banks get bail-outs this won't help unless consumer spending ramps up big time.

Now if the fed starts paying off everyone's credit card that would help.

chslaxcoach said...

There are days when Cramer is spot on and there are days when he is dead wrong. In other words, he is no different than a gambling addict picking football games every Sunday.

http://tinyurl.com/3jvug2

I think the one honest broker on CNBC is Rick Santelli. I think he feels trapped there.

theloknesmonster said...

Go ahead and sift through all the horseshit advice this idiot has given out over the last year or two, and you'll find out he is batting right around .000.

Cramer's advice literally tells you how to lose your life savings. "Buy high and sell low".

If you had not already gotten out of US stocks and you sold during this bloodbath because Cramer said so, you deserved that ass kicking from which you may never recover...

Paul E. Math said...

Oh, Keith, now you're really pushing my buttons. Cramer is the blind squirrel who finally found a nut.

Listen to him gloat about getting that call right. He's not legitimate, never was, never will be. Pure snake oil salesmen almost as bad as David Lereah. For real.

Did Cramer call the 11% rally today? No? Then I guess he is NOT a reliable source and NOT to be trusted.

les said...

I don't like Cramer. But, how can anyone make a prediction on the market when the Central Banks are constantly interfering with it.

In time like these, you would think that cutting back on borrowing and restricting lending would be prudent. Not according to the central banks. They want to guarantee the commercial paper and any new securities written by the banks. It's like the Central Banks are saying, "Go back to what you were doing. Just give loans to anyone and everyone. We got you covered."

It seems awfully reckless and dangerous.

Anonymous said...

Cramer asked a good question, why doesn't he go back to being a money manager?? Must be better money than in media.... Kind of like those guys that want to sell you a book or course on how to turn 30k into 1 million. Why sell books if you have a system to do that?

gee, i hope he told everyone that got out to get back in this morning....

What an idiot.

Charlie said...

How do you know he was "spot on" at this point.

What if the market goes right back up to higher than it was when he said get out?

Then what.

Then, those people 401Ks will have less than they would have if they didn't listen.

I don't see how you can make any conclusion about any stock forecaster until they have a track record.

From what I've seen, entire websites have listed his wrong calls.

Stock forecasting is like palm reading or card reading or any other. You're going to be right just often enough to fool the ignorant masses.

john mellon said...

"What if the market goes right back up to higher than it was when he said get out?"

I think it's doubtful. Obama wants to let folks pull money out of their 401k's penalty free to pay down debt. So we'll see who's going to be buying equities-- maybe just the US Taxpayer.

Happy4LA said...

Keith, why does a con artist like Cramer continually fool you? This is the guy who said CEOs at Goldman Sachs, Merrill, Lehman, etc. weren't being paid enough money because they were about to make even more money for their companies. Ooops! Sign up for a free trial of his website, someone nailed it above. He's a blind squirrel. His portfolio was down 40% as of Friday and he called this crash?! He contributed to it but creating more panic because people give him a forum to spout is inanities. He's worthless. Trust me, I've paid my dumb money for his website for the last 8 years. Maybe I'm dumber than Cramer, but I'm not a crook making 100 calls and calling myself a genius when I get one of those 100 calls right. He's a fraud ... there's no debate.

Anonymous said...

jaws, it's all about risk. The guy burying his money in mason jars in the back yard has 0% risk, 0% gain. The guy with a business has the highest risk and the highest gain. All that means is you're willing to blow it all to get more. Good for you. Not good for everyone. Especially people who aren't concerned with material things.

And don't get ahead of yourself, pal: "I think we're smarter...feeling the beat vs. rotting in a ***cubical***."

Yeah, smarter. That's it.

Anonymous said...

Dead Cat Bounce