Jim Cramer:TSCM, Mad Money & The Street.com
- RandeS
- TONYBRIG
- TONYBRIG
- JenL_3
- JenL_2
- JenL_2
- JenL_2
- JenL_2
- JenL_2
- CaptRon
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» TONYBRIG - What did ya expect
A baby coulda predicted a nice pop on this one!What with all the P/R and hype and.............
Who hasnt heard of Cramer and the Street.Com.
Smart move!
Congrats to Cramer and all who got it and who got
in.
Maybe someday they will talk like this bout the
BOWGER?
Maybe its up to us to bring it about.
vbolhh
-- posted by TONYBRIG
» JenL_2 - TSC Drops Fees
This from 1/10 WSJ:Online Publisher TheStreet.com Plans to Drop Fees for Main Site
-- TheStreet.com Inc. will no longer charge for its main site, dropping its subscription fees in a move to compete more effectively with free financial-news publications.
The company will continue to charge for certain premium services, such as real-time commentary from popular columnists, including James J. Cramer, Herb Greenberg and others, but these features will reside on a new RealMoney.com site. RealMoney.com will charge an annual fee of $200.
Charging $99.95 per year, or $9.95 per month, TheStreet.com has been one of the few Web sites that has been able to charge subscription fees. Microsoft Corp.'s Slate magazine, after briefly charging for content, now provides all of its content free. The Wall Street Journal Interactive Edition is the only large newspaper charging for its main content.
"Going free for news is a must if we are to compete world-wide for readers," said Mr. Cramer, TheStreet's co-founder, in a statement.
Earlier this month, Mr. Cramer agreed to receive stock options instead of a $275,000 salary next year, a move TheStreet.com said was "a major vote of confidence in the company's future." After soaring to finish at $60 in their first day of trading in May, shares of TheStreet.com then fell and have hovered around their offering price of $19 a share. Early Monday, the shares added 25 cents to $18.75 on the Nasdaq Stock Market.
TheStreet.com will relaunch as a free site in the second quarter of 2000. It will also include news and analysis from the company's domestic and international partners, including the New York Times/TheStreet.com joint newsroom, the Britain-focused TheStreet.co.uk, and the company's joint news venture with the Ha'aretz Group covering Israeli companies.
.....Jen
-- posted by JenL_2
» JenL_2 - TSC for Sale
This from 2/16 WSJ:TheStreet.com, Exploring a Sale, Seeks Aid of Wasserstein Perella
By JON G. AUERBACH and STEVEN LIPIN
TheStreet.com Inc. has hired investment bank Wasserstein Perella & Co. to explore strategic alternatives, including a possible sale of the company, say people familiar with the matter.
In recent days, TheStreet.com, which offers financial-market reports and commentary, has been shopped to other Internet companies, according to one person familiar with the matter. Another person said TheStreet.com, with a market valuation of nearly $400 million, had been approached by a would-be acquirer.
It couldn't be determined what premium, if any, buyers would be willing to pay for the company, which has been struggling to work out its business model. Web portals and other media companies are considered potential buyers.....
...TheStreet.com went public last May at $19 a share amid much fanfare, with its stock more than tripling on the first day of trading, to $60 a share. Amid stiff competition from rivals such as MarketWatch.com Inc., TheStreet shares have fallen, trading at $16 each Tuesday at 4 p.m. on the Nasdaq Stock Market.
Analysts say part of TheStreet.com's stock weakness is a reaction to the company's strategy to charge a premium price compared with its competitors. Currently, the site charges an annual subscription fee of $99 for much of its information, which analysts say has alienated some users who aren't interested in paying for information they could find elsewhere. Last month, TheStreet.com announced plans to make information on the site free and also start a new, paid site called RealMoney.com devoted to commentary. Those plans are scheduled to take effect in the second quarter.
"Some investors are taking a wait-and-see approach," says Gordon Hodge, an analyst at Thomas Weisel Partners in San Francisco....
...TheStreet.com, founded in 1996 by hedge-fund manager James J. Cramer and Martin Peretz, the chairman of the New Republic, has attracted investments from companies including New York Times Co. and venture-capital firms Flatiron Partners and Oak Investment Partners. One of the site's selling features has been its sharp commentary from writers including Mr. Cramer and Herb Greenberg, formerly a columnist with the San Francisco Chronicle.
Analysts believe the new two-site model will draw more users to the free home page, which will enable TheStreet.com to boost advertising. Mr. Hodge reckons that serious users will pay the $200-a-year fee to access RealMoney.com. He estimates that TheStreet.com's revenue will reach $33.4 million this year, up from $14.3 million last year. The company is expected to post a loss of about $47.5 million, or $1.86 a share, compared with a loss of $33.6 million, or $1.73 a share, last year.
-- Erin White contributed to this article. Subscribe to WSJ & Barron's Online @ http://www.wsj.com
....Jen
-- posted by JenL_2
» JenL_2 - Cramer Likes JAGTX
So far Cramer seems to be right-on with this recommendation in 12/23 TSC:This Year, It's Time to Follow the Hot Hand
By James J. Cramer
All my stock-working life I have tried to take the rational position. When everyone was recommending the hot funds of the previous year, I would always preach, no, wait, let's look who had an off year and give him the money, and see if he can fight his way back. Often that bad year spurs a manager on to greatness.
But something has gone dead wrong with that thesis. I talk to managers galore these days and the guys who don't get it, well they just ain't getting it. The game has changed. The managers who have missed this move are contemptuous of it. The managers who avoid winning stocks like the plague will not recover this time. They have too much baggage.
That's why I am planning on going with the Janus family for any additional contributions for my kids. Not only that, I am going with Global Tech.
Hold it, wise people, before you criticize me for buying the hottest fund in the universe, before you say I am being reckless and irresponsible, let me tell you a fact of life. The world has changed, and the only ones who are still in denial are the ones who are underperforming and will remain underperformers. Two things have happened during the second half of this decade: Nasdaq won and Janus won. While everyone was so busy trying to mimic the S&P, Janus charted a different, more courageous path. They gave you more than an S&P fund with a brain.
That's why, as an experiment, I am putting any new money for my kids into the Janus family. They are young. They have years to make it back if Janus suddenly becomes a bunch of numbskulls. But I have gone over this issue for a month now, and I keep coming back to the same thing, something that all of the Morningstars and the Lippers are never going to give you with all of their objective ratings. At the turn of the century there were managers who got it, and there were managers who didn't. Janus got it better than anybody.
They get the spoils.
I agreed with Cramer. But on Jan 3 - I put my kids’ cash into Janus Global Tech (JAGTX), Janus Global Life Sciences (JAGLX), Janus 20 (JAVLX), Firsthand Funds e-commerce (TEFQX), and Schwab 1000 (SNXFX):
JAGTX, JAGLX, JAVLX, TEFQX, & SNXFX YTD Chart
We shall see…..Jen
-- posted by JenL_2
» JenL_2 - TSC - Fighting for Survival
Rande posted a link to this article from 11/2 San Francisco Chronicle on the "Internet Stocks" thread:TheStreet.com's Slippery Slope -
Once high-flying financial news site fights for survival
....Jen
-- posted by JenL_2
» JenL_2 - You Are Not Going To Have Cramer To Kick Around Anymore
This post copied from the "BB Discussion" thread:Author: KLR
Date: December 4, 2000 8:03 AM
Subject: You Are Not Going To Have Cramer To Kick Around Anymore
Funny piece..."I can't take it anymore" squeaks Cramer, I have been called to a higher purpose, i.e. rating and grading money mangers. "I think that is a more important calling for me than just writing about my trading. I don't think anybody should be running your money. I want to do something about it. Stay tuned."
And I thought Brinker was the only altruistic money man around. Apparently not so....
Jim Cramer to quit hedge fund
Report says TheStreet.com founder to write book
By Bambi Francisco & Steve Gelsi, CBS.MarketWatch.com
Last Update: 10:37 AM ET Dec 4, 2000 NewsWatch
NEW YORK (CBS.MW) - TheStreet.com founder Jim Cramer is leaving his hedge fund to pursue a TV career, write a book and expand his role at his Web site, Washington Post media columnist Howard Kurtz reported on Monday.
Cramer disclosed in an interview with Kurtz that he is leaving his $400 million Manhattan hedge fund, Cramer Berkowitz, to focus on TheStreet.com (TSCM: news, msgs).
The decision came in part because Cramer was tired of being accused of using his position as a Wall Street pundit to promote or knock down stocks - something he has vigorously denied.
"I can't take it anymore," Cramer was quoted as saying. "I want to be squeaky-clean. I have tried to lead my life with maximum disclosure and it's still not enough to satisfy everyone. I don't want to defend myself 100 times a day. Next time I'm on TV and say I like Cisco, I don't want people saying, 'There's Cramer pumping-and-dumping Cisco.' "
Cramer was not available to comment on the report.
The lighter side
Cramer plans to turn the hedge fund over to partner Jeff Berkowitz. The fund is now up 34 percent for the year, Kurtz reported.
Cramer's reported departure comes amid the biggest fallout in tech stocks in some time. It also comes at a time when money managers, once fortunate to ride a seemingly unending bull market, are now coming to grips with the reality of a bear market.
And there's nothing like a downturn to destroy the credibility of once-hallowed money managers, who played up their stock holdings only to be humbled, time and again.
In Cramer's latest missive, he decried the low barriers of entry to become a money manager and how it fueled the extensive wealth destruction. "Can anybody manage money?" he wrote. "I often ask myself that when I look at the carnage in my mutual fund and I think about the hedge fund world I live in."
Cramer also hinted in his piece that rather than manage money himself, he's called to a higher purpose. "I have become more involved in trying to figure out how to rate and grade managers.
"I think that is a more important calling for me than just writing about my trading. I don't think anybody should be running your money. I want to do something about it. Stay tuned."
Shares of TheStreet.com were up 1/8, or 5 percent, at $2.56 in early trading Monday. CBS.MarketWatch.com competes with TheStreet.com to deliver real-time financial news over the Internet.
-- posted by JenL_2
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