Cramer Speaks Again
We have heard all of these over the years. One minute Jim Cramer is your hero, the next, he is blithering fool. This is where the success of Jim Cramer is found. Getting attention from anyone and everyone no matter what his stock calls are. The fact of the matter is that Cramer gets a lot of attention. Some argue that his picks become self fulfilling prophecy simply because he is branding a stock good or bad, and thousands of viewers buy or sell on what Cramer says. Like him or hate him, Cramer garners attention.
A bit over a week after Cramer declared the merger a virtual shoe in, and a Sirius as a double, with minimal downside risk, Cramer reversed course and went against Sirius today citing congress as the stumbling block. The reaction was predictable. The people that loved him last week hate him this week. The people that hated him last week now love him. There is simply no happy medium with Jim Cramer.
Realistically, Jim Cramer is an entertainer that has amassed a following. There are several web sites on line that have tracked Cramer’s picks, and in August 2007, a study by Barron’s found that Jim Cramer’s stock had consistently underperformed the Dow Jones Industrial Average. CNBC responded that Barron’s was looking at the data incorrectly, but Barron’s found that even when the data was measured using CNBC’s metric, Cramer still had not performed better than the market.
So, can Cramer move a stock. Yes. Is it wise to know if an equity you are invested in is on the Jim Cramer radar screen? Yes. Should you follow his picks? Some say a coin flip is just as accurate.
Position – Long Sirius, Long XM
cramer said “That stock has to pull back because I still don’t trust Congress to do the right thing.”
what does congress have to do with this decision? the deal needs approval by the fcc and doj.
is cramer confused or is he manipulating again?
To the Bears:
We need more negative comments about Sirius and XM so their prices will drop. That way I can buy them. You’re really not at the top of your game because both stock prices are ranging about the same. What is your problem.
To the Bulls.
We need more positive comments about Sirius and XM so I can sale a few of my positions.
But don’t make things sound “too good” because if you do, I won’t be able to get back in. Just like the Bears, you’re not doing a very good job of pumping these stocks.
What is your problem?
Why am I riding both sides of the fence.
Well, I owned Apple at 80 and lost out because the bears did such a good job of tearing down the stock a few weeks before I sold.
I owned google in the 100s and sold for the same reason.
I learned my lesson. I don’t trust the Bears or the Bulls! I trust ME…….
Forget Cramer….do your own research….or like they say flip a coin..you will always do better than Cramer. As I like to tell my friends and clients….long ago when I knew so little of how this game is played…I thought Cramer knew his stuff. And in the beginning I bought and held long a few of his picks as he so enthusiastically encouraged us to do. And in those naive days I sat and waited…hoping the stock would find a magical up side to pay me back a wee portion of my lost $$$..(ahh Cramers words of encouragement…”The CEO is a smart guy..doing the right things..blah blah blah..:):):):(:(:(“….but alas I had to sell for Cramer wrong. So here I sit today…a tad bit more aware of the market around me…having felt the pain of bad decisions and felt the joy of the good ones…feeling a need to share with you my agreement with this bit of news albeit it old. Mr. BooolahBullsh-t Cramer is TV…television…NYC-Hollywood…ENTERTAINMENT!!…GO CNBC..(ain’t Erin a cutey :)….a man with a TRUST FUND….that always recommends stocks owned by HIS funds. Only tells you to SELL SELL SELL…a fews days after he’s SOLD SOLD SOLD at a very sweet price…just before that “unexpected drop in price dispite the better than expected earnings report…” HELLO!!! I am ashamed to say I was once entralled by big Jim….but now…I can only sit and laugh…and pity those who trust this man. I still enjoy watching his antics…but I no longer listen to his advice “…opinions expressed by Jim Cramer are solely his own and are not those of CNBC..blah…seek advice from your own financial…” because he is not there to “make you MAD MONEY”…he’s there to make him mad money. Jim worked his butt off as a hedge fund manager…did a bang up job…got in the eye of CNBC because of that magnetic ohhh so outgoing personality…and now is having fun..making a ton for that charitable trust. 🙂 Yep…that’s my definition of a genius too. Stick to the news folks…CNBC is there to show us some of the finest looking female journalist in the industry…and I’m a big fan. Oh…SiriusXM….it’s all up from here folks. I’m a large holder despite big Jim’s insightful wisdom (“geez”) 🙂 Fundamentals are great…XM is great…Sirius is great. Subscribers are down…ok….and how many do we have now…hmmmm….and who else provides such a unique long awaited radio freedom….who…..oh….just SIRI!!
Siriusly folks…given this emotionally influenced market and the added effect of Mr. Cramer to the unfortunate millions of his viewers…SIRI is down…unreasonably down because of Jim……..well before their report of lower subscription rates. If I’m reading this right…aren’t they still a multi-billion dollar company. Now’s that’s a penny stock worth owning.
Still hooked on Jim…try this logic…..pick a stock…say…SIRI…and if we ALL buy a few shares…the price will go up….and we ALL buy a few more…the price will go up….hey….neat….we can all help each other get rich. Or….or I could just put SIRI in my TRUST FUND….and tell you to buy it and you’ll help me get rich…..but remember…I’m here to help YOU make money…MAD MONEY!!!
Have been a Jim Cramer subscriber for about a year and lost, and lost, and lost. 8 out of 10 stop picks lost money this year. Then I figured it out… Since October, I have sold puts or shorted every stock Jim recommended. Up 27% in 3 months/ Go Jim…. kind of.