Cramer in Forbes.com Piece - Funny Money
Forbes.com has an interesting piece on Cramer up today. Excerpt below.
Regardless of what you think of Cramer, and if you are at this site you most likely look at him kindly, you have to admit that he, like everyone else has his moments. Some say you only need to be right more than 50% of the time to make money. In reality, with good money management, money is made while having far more losers than winners. Take a look at the writings of Gary B. Smith on Thestreet.com for examples of such a strategy.
Jim Cramer sticks his neck out often enough that he is going to have some ugly days. As viewers of his television show, readers of his writings, and listeners of his radio show we owe it to Jim to respect the fact that his decades in the business may have taught him a thing or two. It isn't fair to expect the man to be perfect. All we can ask is that he helps us make money. If I learn of a single stock that otherwise would have gone unnoticed, I'd say my time spent watching the show is well spent. Keep up the good work Jim.
Excerpt:
Last Monday after a weeklong Hawaiian vacation, a bronzed Cramer returned to CNBC's studios as unhinged as ever. He immediately trumpeted his pick of the week--Dick's Sporting Goods (nyse: DKS - news - people ), the athletic-gear and apparel chain.
"This is the best story you've never heard of," he enthused, urging viewers to buy Dick's ahead of its earnings announcement the next morning.
Although Cramer warned his disciples only to buy with a limit order to prevent the stock's spiking, Dick's popped 7% to $41.93, trading 300,000 shares during Mad Money. By comparison, Cisco Systems (nasdaq: CSCO - news - people ), which traded 60 million shares in Monday's regular session, traded only 12,000 shares between 6 P.M. and 7 P.M.
Tuesday morning, Dick's sliced its 2005 earnings forecast, and the stock tanked, closing down 20% at $32.90.
Enraged, Mad Money viewers flooded Dick's Yahoo! message board with anti-Cramer tirades, many of them--there were over 1,800 posts that day--unsuitable for reprinting on a family Web site.
That evening, Cramer--with an "Eating Crow" graphic prominently displayed behind him--issued a mea culpa, repeating five times "I was wrong." But don't dwell on your mistakes, he exhorted: "Bottom line: You have to move on and get back into the game!"
This is hardly newsworthy but I thought it fun nonetheless. Paul Kedrosky admitted today that Cramer is a guilty pleasure for him. More interestingly he also noted that "it's the only non-cartoon, non-Animal Planet show my four-year-old will watch. He literally stops cold in the ... Read
The China Stock Blog cautions readers this morning to Beware advice from Jim Cramer. Apparently in yesterday's show Cramer mentioned that the best way to play the Chinese growth in medicine is to buy US medical companies that do business in China, such as General ... Read
Time.com has a piece on Cramer that is very similar to every other piece that is written on him today. Of note to me is that Cramer now has the network's highest-rated program: "Mad Money has boosted viewership in its 6 p.m. E.T., weekday slot ... Read
Cramer believes that the Bull Market Has Arrived and its time to buy housing, tech and healthcare. He believes this to be the case because good news matters once again. When a company reports good information its responds well. The VIX Jim believes the VIX ... Read
