Market Corrections are fun

[Fnord]

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

Fuck Bush, his stupid war and bigger government.

[dsaxton]

What does any of this have to do with Bush?

Also, Jim Cramer is a lunatic.

[Fnord]

Yeah, this is bigger than just him.

Just re-enforces what I'm seeing in California. When I came 2 years ago the housing market was buy high, sell higher; and loans were dirt cheap. It doesn't take a historian to know where that leads and I pretty quickly signed a lease. Throw in a weakening dollar, a real rise in the deficit between the war + other spending, inflation, etc. I'm not in a very Bullish mood for the US right now.

[dsaxton]

I owned shares of a company that one day Jim Cramer decided he didn't like, and the stock immediately plummeted. All he said was "I don't like their business model," and people started selling. It's as though his listeners assume his views are correct simply because he says them loudly and throws in a lot of economic and financial jargon that they don't understand half the time anyways.

[Fnord]

Yeah, there is a lot of BS that goes on at all levels with pumping + dumping individual stocks.

[Alexos]

Jim Cramer is entertaining, lol hahahah just seen the video so sick

take his advice for what its worth, but dont hate the guy

[stevedonel]

Cramer is a bit nutty, but his general concepts are valid. Following what advisors say to "buy now/sell now" is a pretty stupid investment strategy, because you'll always be behind the people that do their own research and beat the masses to the big scores.

I cashed 90% of my mutual fund and put it in CDs a couple months ago (I'm a complete nit with my retirement fund), the markets gonna get pretty nasty soon. Happens every 8-10 years.

[Fnord]

I cashed 90% of my mutual fund and put it in CDs a couple months ago (I'm a complete nit with my retirement fund), the markets gonna get pretty nasty soon. Happens every 8-10 years.

Given what's happening to the dollar, I think that's pretty terrible.

Gold, Silver (etc.), foreign curency and really boring companies is a far better way to go.

[gabe]

I owned shares of a company that one day Jim Cramer decided he didn't like, and the stock immediately plummeted. All he said was "I don't like their business model," and people started selling. It's as though his listeners assume his views are correct simply because he says them loudly and throws in a lot of economic and financial jargon that they don't understand half the time anyways.

its so sick what cramer can pull off. hes always talking about how hes only interested in fundamentals, then one day a few months (middle of january i think, its easy to look up) he claims he doesnt like where technology is going and to SELL SELL SELL. the nasdaq dropped over 1% the next day. did he predict the relatively big drop?? no, the fucker caused it.

[Harry]

I'm not worried... most of my portfolio is in foreign companies or US companies that have a lot of international revenue.

[Alexos]

gabe- the nasdaq dropping 1% is really not that big of a deal..at all

but your example still stands for individual stocks, even some mid caps can have 10% swings after being bashed or recommended by him

As for recession protection, you guys with US$ portfolios should follow Harrys advice. A good example would be 3M, I think over 60% of revenues come from outside of US. Dividend paying companies are also a better bet. Mix in with quality 5-10 years maturity bonds and you should do aiight.

[gabe]

gabe- the nasdaq dropping 1% is really not that big of a deal..at all

its a big deal if one person alone can make it happen

[Alexos]

um, no..since these 1% swings can happen every other day then u have no argument saying "Cramer did it"..

if there are no other economic news and market drops more than usual then we might point a finger at him..

[ensign_lee]

Wow, talk about overreaction F*$&.

Sometimes you've just to bite the bullet and pay the price. He'll be the same person bitching about inflation later because the fed unleashed the gates of low interest rates on the US economy again.

Go go Bernanke; KILL INFLATION WOOH!

[gabe]

um, no..since these 1% swings can happen every other day then u have no argument saying "Cramer did it"..

if there are no other economic news and market drops more than usual then we might point a finger at him..

lose the dismissive bullshit plz. introducing a point by saying 'um,no' is weak, and although you might think it gives you some psychological edge by talking down, its lame.

here are the facts
-cramer only focuses on fundamentals of companies, so he says. he says he bases all of his info on this and none on anything technical.
-in january he had been pushing a group of big time tech stocks because he thought they had great fundamentals. among these were huge companies like EMC and RIMM (two 40 billion dollar companies).
-all of a sudden, with no bad news from these companies, and for that matter no news of significance at all, he urged people to sell these companies (what happened to fundamental analysis???). he instructed people to sell a variety of tech stocks and the companies prices subsequently dropped.
-there was no fundamental reason for changing his rating on this group of tech stocks. he lied. he hurt a bunch of industry leaders because of this and hurt the nasdaq too. what would happen if he didnt say anything? you dont know and neither do i. i do know however that he DEFINITELY influences markets and i feel bad for people that only invest in what he prescribes.

*note: this all happened on the day before options expired. he obviously knows this (anyone swing trading companies would). im sure he had friends make some money off those.

[|~|ypermegachi]

markets dropping now suck...considering tuition fees are coming up. why didn't it drop next month????

[Alexos]

gabe take it easy, i didnt mean to be dismissive or wtv...sry

As for your point, idk man, I'm really skeptical in believing Cramer can influence the stock of a 40B cap company, I cant see how he has enough reach to do that. And people that listen to him are average joes, and generally not investors that own millions in shares and can influence the stock of large caps.

As for Research in Motion I think the stock has tripled up in the last year, lol at people that followed his advice.

[Trashcona]

As for Research in Motion I think the stock has tripled up in the last year, lol at people that followed his advice.

Although Cramer had nothing to do with it, I know a number of people that literally went broke after shorting Research in Motion and dabling in the options market based on it going down. Sucks to be them.

[IowaSkinsFan]

This video is awesome, im pretty sure Cramer is an idiotsavant.

[Alexos]

he's on crack, right?

[Harry]

He is def not 100% fundamentals. In his books he talks a lot of macro-events (sell this industry when rates are here, buy when they are here, etc...)

[Alexos]

thats still fundamentals no? Rates going up hurts banking stocks, etc etc..although its still market timing, i wouldnt necessarily put it in the same category as trading. It's just top-down instead of bottom up...or am i wrong?

[gabe]

yea im pretty sure that counts as fundamentals. anything that cant be explained in charts is, i think.

[Warpe]

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

Fuck Bush, his stupid war and bigger government.

Colbert is showing this clip and is interviewing Cramer tonight.

[gabe]

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

Fuck Bush, his stupid war and bigger government.

Colbert is showing this clip and is interviewing Cramer tonight.

i was going to watch this but just missed it...anyone catch it?

[zook]

Watching it now:

http://tinyurl.com/2dq4dc

edit: This link might not get the right clip to play, but it will get you close enough.

2nd edit: Hilarious!

[givememyleg]

I'm not worried... most of my portfolio is in foreign companies or US companies that have a lot of international revenue.

but how much did you lose