Jim Cramer

[wildcat]

I suppose some of you have watched Jim Cramer's 'Mad Money'. This guy is all over the place. One week it is buy a stock the next week it is sell the stock. Seriously!! For example, the guy hated Starbucks just last week but Starbucks came out with some report and boom he likes it again. The guy is giving such bad advice. If you followed his advice, transactional costs alone would eat up all of your gains. I suppose he is entertaining at best.

[Michael]

He is entertaining. Sometimes I will leave him on in the background while I surf the net.

[cute fuzzy bunny]

I have TWO "threstreet.com" tee shirts autographed by jim cramer from when he was as big as a rock star in the late 90's.

Any buyers before I put them in the wash with a LOT of bleach?

[BUM]

I like Cramer but a hour is too much. He's gotta calm down. My opinion - no second season for Cramer.

[ex_CFO_now_RVer]

I enjoy watching his show and rarely miss, (my wife does not care for him).* Bought Google on his recommendation at $190. His analysis of viewers stock selections is interesting but, you need to do your own due diligence before investing.* BTW, I am a diehard indexer and only buy individual stocks on rare occasion.* I also watch Kudlow!!!

Dave

[windsurf]

I am a recent subscriber to his service, Action Alerts.* Many burns and a lesser number of marginal home runs.* Kmart was a good one but it's about one in five that hits.* I am doing this in a taxable account that is about 15% of my stash.* I appreciate his denigration of Street crooks but feel like a chump in the flock of his sheep lately. When the index spikes, his accolytes jump in with kudos for some individual home run. I am most turned off by his shameless attempts to capitalize on the Iraq debacle (Haliburton, et al) and so-called energy plays.* "Peak oil" is not in his vocabulary.*

[BUM]

I dunno. Was it T. Boone Pickins last week who said we'll never see $45/barrel again? Also said worldwide demand is 86 million bl/day and supply in 84 million with US/India/China increasing. Dosent sound like a peak to me.

BUM

[hydroguy]

Cramer is the subject of a tell-all book; I can't recall the name but he's supposed to be a complete horses-ass to work for.

I always wonder about these "stock pickers" who want to sell you advice. If I was making a killing in the stock market I wouldn't waste time trying to teach others to do the same. I'd be focussed on trading 100% until I had enough socked away to retire in style. It's like Wade Cook, his income was mostly from his classes, not from his investing. He turned out to be a phony.

[wildcat]

I can almost guarantee Cramer did not make his money from his stock picking ability and it probably came from a big salary, street.com & his crappy books. Cramer basher

[haha]

Quote:

Originally Posted by BUM I dunno. Was it T. Boone Pickins last week who said we'll never see $45/barrel again?* Also said worldwide demand is 86 million bl/day and supply in 84 million with US/India/China increasing. Doesn't sound like a peak to me.BUM

I don't really understand this statement. Peak is a function of reserves and production rates. Nobody has said that demand is peaking. Though obviously price will have to do some real demand rationing if we are nearing peak. Not enough above ground storage to have a supply shortfall for long.

Peak oil presumes a finite resource. When half of it has been produced, we will be at peak. There are lots of ideas as to when that might occur, and what the total resource(and thus also half of the total resource) is.* Even a few think oil and NG are being renewed from deep within the earth.

Boone has believed in peak oil for a long time, though he has only started talking about it lately. Way back in 1980 he carved Mesa Royalty out of Mesa Pete, because he felt that exploration in the areas that were open to non-state companies had become a loser's game.

Along with Warren Buffet and Charlie Munger, Boone is a man who I at least have never heard put forth an irrational or poorly thought out idea. Once he was trading cattle and there was* a very bullish consensus in the market. Boone flew around Oklahoma and the Texas Panhandle, looking and doing a rough count of cattle on feed. He decided that there were more than the market was accounting for, went short and made a killing. None of this efficient market pablum.

If you want to be rich some day, buy oil sands.

Mikey

[Martha]

Quote:

Originally Posted by mikey If you want to be rich some day, buy oil sands. Mikey

DH bought into (in a small way) in a Canada "oil sands" company a while ago. We shall see. It seems too soon, too speculative, to me.

[wildcat]

As long as you guys didn't bet the house...why not

[haha]

Quote:

Originally Posted by Martha DH bought into (in a small way)* in a Canada "oil sands" company a while ago.* We shall see.* It seems too soon, too speculative, to me.

Like Don Coxe says, you make your money on page 16 stories, not page 1.

BTW Martha, I think we have have a* number of investments in common. I have Suncor. I put about 3% of my port into it a little over 2 years ago, and although it has backed off recently, it is still more than a double. If we get a recession and oil prices (&Suncor stock) go down meaningfully, I'll get more. 50 years of reserves is hard to find, and they have that.

Anyway, I view financial risk as a partial substutute for physical risk. I'd rather lose some money than get buried in an avalanche for example. If this crap is in your blood, there really isn't a lot you can do about it.

Mikey