Jim Cramer:TSCM, Mad Money &amp; The Street.com

Top 22. Dec 7, 2000 9:28 PM

» Steven_Russell - Cramer, always a hoot

Caught him on CNBC this morning. I guess he just can't stay out of the game. He was actually begging Mark Haines, "Gimme the ball, Give ME the ball!"

-- posted by Steven_Russell

Top 23. May 9, 2001 8:38 PM

» morrisgara - Cramer Bullish

I believe Cramer turned strongly bullish in early April, 2001; which was of course good timing.
M

-- posted by morrisgara

Top 24. Aug 3, 2001 9:05 PM

» JenL_2 - RealMoney Talk

Is anyone listening to Cramer's new RealMoney Talk on the radio? We just got it in Seattle on 770AM KNWX Business Radio from noon to 1:00 weekdays - and I've listened a few times in the car. I don't have cableTV so haven't watched Cramer much on CNBC, but have to admit that his 1 hr radio show is pretty good. Too bad you can't listen to the show over the internet, or we could schedule a chat time during the show if anyone was interested......Jen

-- posted by JenL_2

This Year, It's Time to Follow the Hot Hand

Top 25. Sep 6, 2001 7:44 AM

» JenL_2 - Re: RealMoney Talk

I'm not a regular reader of Jim Cramer, nor a subscriber to RealMoney, but lately have been listening to his RealMoneyTalk

It seems all he can do is bash tech these days - he says he's "hated tech" for the last 18 months.....I haven't followed him that closely all along - Did he advise getting out of tech Before the March 2000 peak?

Here's a Cramer column from 12/23/99 TSC:

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.

and here he is on 6/26/01:

Smarter Money: Stampeding Toward the Mutual Fund Exits

These Merrill (MER:NYSE) and Applied Micro (AMCC:Nasdaq) blow-ups couldn't happen at a worse time for America's mutual fund industry.

I think the public views mutual funds the way insurance companies view insurance consumers: We are all entitled to one bad quarter or one accident without any real repercussions, but put two back-to-back bad quarters together and the scrutiny goes way up. Now that these earnings shortfalls are coming with just days left in the quarter, I think that fund consumers are going to start bolting from loser funds, tax exemptions or not. Just as with insurance, you can't have two accidents back-to-back and expect that everything will be hunky-dory.

Is it right to bolt after two bad quarters? Yes, I think, all of last year was bad. That's too much of a pattern to stomach. Look for heavy withdrawals and no new money after people see their statements 10 days from now.

Random musings: One of the reasons the mutual funds get you their portfolio reviews so late is that the NASD Regulatory and Compliance rules often tie up communications with shareholders for four to six weeks. So the industry isn't always at fault.

Also, reader Mike H. has an explanation of why the hedge funds, like those run by Dan Benton, take a lot of heat in the conventional press while the mutual funds pretty much skate, despite the far greater impact those funds have on the public: How much money does Dan Benton (or any hedge fund manager) spend on advertising per year, or per month, with The Wall Street Journal? Zero, zippo, nada. OK, how much does Vanguard (or Fidelity, Janus, Scudder, etc.) spend per year (or per month, week or even day)? Mucho dinero! Face it, the conventional media will never seriously bite the hand that feeds them: advertising revenue. Every now and then they might take a nibble but not much more than that. When The Wall Street Journal, Barron's, Fortune, Forbes, etc., need examples of poor performance or mismanagement, it's usually hedge funds or obscure funds or fund companies that incur the wrath of the financial press. Given the sheer number of debacles that we have witnesses in the last year among mutual funds, you would think that we would be treated to some critical analysis of the industry. Won't happen. As long as the advertising dollars roll in, the media will choose to simply ignore this storyline. Vanguard, Fidelity and the other big advertisers of the fund industry are essentially untouchable.

I can't say I agree with Mike on all of this. Fortune, for example, has just hammered some underperforming funds. In general though, outside of our own regular coverage of this industry, I don't see much rigor in the coverage.

Last week a caller on RealMoneyTalk asked Cramer why he bashes tech stocks now when they are down when he was touting some of these very same stocks right up until the tech sell-off in March 2000. Cramer said something to the effect that he like a lot of analysts got caught up in the tech mania, but he turned bearish on tech sooner than a lot of analysts.....but his goal is to be in what is making money and out of what isn't making money. To his credit he let the caller talk, he didn't cut him off, but the caller was right.

Cramer listener and reader beware.....although entertaining.....his ravings just may be a contrarian indicator, like Mark has pointed out before......Jen

-- posted by JenL_2

Top 26. Sep 6, 2001 8:28 AM

» JenL_2 - Re: Cramer Likes JAGTX

In response to message posted by CaptRon:

Gee Ron - Just saw your question from 12/00. Actually I sold TEFQX for a tax loss in 2000, but still have a small amount (lots smaller now than before) in a non-taxable account. I continued to buy more JAGTX, JAGLX, and JAVLX in non-taxable accounts on the "dips" in 2000......but of course they're lower now than any of those "dips". Just holding now - still have faith somehow in Janus to pull out of this tech debacle eventually......Jen

-- posted by JenL_2

Top 27. Mar 4, 2002 8:04 AM

» KLR - "Quick Profit Cramer"

NEW YORK (CBS.MW) -- An upcoming book accuses celebrity investor and market pundit Jim Cramer of manipulating CNBC news anchors and using his own TV appearances to make quick profits on stock trades, according to Forbes.

"Trading With the Enemy," by a former employee at Cramer's investment firm, says he touted stocks in which his hedge fund had sizable positions, only to dump them shortly after he passed the information on to CNBC anchors Maria Bartiromo and David Faber, according to the Forbes' report.

The book, to be published this month by Harper Business, accuses Cramer of gaining early word from major brokerages of their analysts' upgrades and downgrades, and then taking positions in stocks being affected.

"We were the first firm most brokerage houses told such news [of upgrades and downgrades], and Jim decided to use this early-call status to help the reporters, who all wanted to break a story," former employee Nicholas Maier writes in a passage quoted by Forbes.

Attempts by CBS.MarketWatch.com to reach Cramer for comment on Sunday were unsuccessful. The Forbes report quoted from a CNBC statement in which the network said it stood by the integrity of its reporters. The statement said Cramer denied the accusations.

In its report about the Maier book, Forbes cited only one specific trade. Cramer's firm is said to have told ordered Goldman Sachs to buy 100,000 shares of MCI Group after receiving a call from Faber. Less than an hour later, Faber was on the air reporting MCI was the subject a takeover rumor.

Maier admitted he didn't know what was said when Faber called. "Reporters often called us, asking if we could confirm a rumor in the marketplace," he writes.

Despite paying lip service to stocks he recommended investors hold for the long-term, Cramer would often do the opposite and sell for a quick profit, according to Forbes' account of the book.

"Our real strategy, however, was all about taking profits now," Maier writes in a passage. "Back at the office, we were supposed to dump stocks after a quick half-point gain. On TV, Jim would tout a stock we owned, but if it moved up, we would sell."

Maier, who worked for Cramer from 1994 and 1998 at Cramer & Co., says in the book that the firm had arrangements with investment banks to commit to after-market orders for initial public offerings as a way of "making sure hot deals stayed hot."

Cramer is co-founder of TheStreet.com (TSCM: news, chart, profile), an online financial news service and a competitor to MarketWatch.com, publisher of this report. The two companies have a distribution agreement under which MarketWatch.com carries articles published by TheStreet.com

-- posted by KLR

Top 28. Mar 14, 2002 3:48 PM

» KLR - Andersen Drops TheStreet.com Over Cramer Remarks

Here's a switch, Andersen, who is losing clients like middle-age hair, drops The Street.com because of Jumpy Jimmy Cramer's remarks....

Andersen Drops TheStreet.com Over Cramer Remarks

By David S Hilzenrath, Washington Post
WASHINGTON, D.C., U.S.A.,
13 Mar 2002, 7:06 AM CST

Not too long ago, Arthur Andersen featured a narrative about its relationship with TheStreet.com on its Web site, citing it as a "success story."

But Andersen's feelings for the financial news company turned chilly after commentator James Cramer, TheStreet.com's co-founder and a member of its board, criticized Andersen's Enron audits and its shredding of documents on a CNBC cable program he co-hosts.

When TheStreet.com's chief executive refused to repudiate Cramer's comments, Andersen notified him that it was dropping the company as a client, TheStreet.com said in a report filed yesterday with the Securities and Exchange Commission.

In the March 5 letter, Andersen told TheStreet.com that it was no longer able "to work with TheStreet.com in a cooperative manner" as a result of "inappropriate comments about our Chief Executive Officer and our Firm made by a member of your Board of Directors."

Andersen had conditioned any continued relationship with TheStreet.com on the public repudiation, TheStreet.com said in its SEC filing. In an interview, TheStreet.com chief executive Thomas J. Clarke Jr. said an Andersen partner told him that the demand came from Andersen's chief executive, Joseph Berardino.

"We would think that Andersen, of all companies, would be particularly sensitive to the need to stand behind our professional judgments and not cave to external commercial pressures to modify them," Clarke wrote in a March 6 letter to Andersen.

An Andersen spokesman declined to comment.

Andersen's decision to part company with TheStreet.com after it finishes auditing last year's financial statements came as the news site, like many other companies, was assessing whether it should continue to use Andersen as its auditor. Clarke said his company invited other firms to compete for the job because it was concerned about Andersen's ability to survive "the whole scandal at Enron."

In yesterday's SEC filing, the company said it chose Ernst & Young to replace Andersen, subject to shareholder approval.

Cramer said he makes no apologies for his criticism of Andersen. "I'm not the one who shredded the documents . . . and I'm not the one who can't see right from wrong," he said.

Reported by Washingtonpost.com, http://www.washingtonpost.com

-- posted by KLR

Top 29. Mar 15, 2002 6:57 PM

» vhehn - cramer book pulled.

03/15/2002 06:50 PM EST

HarperCollins Publishers said late Friday that it is recalling the book Trading With the Enemy. The publisher said in a letter that the book written by Nicholas Maier, which alleged improper trading activities at the hedge fund formerly run by James Cramer, the co-founder of TheStreet.com (TSCM:Nasdaq - news - commentary - research - analysis), contained errors.

A letter from James A. Fox, senior vice president and general counsel for HarperCollins Publishers, said the publisher has stopped shipping the book from its warehouse and that remaining inventory from the initial printing will be destroyed.
http://www.thestreet.com/markets/marketf...

-- posted by vhehn

Top 30. Apr 8, 2002 7:07 PM

» netzoid - Cramer Touts GE

I was listening to Cramer's REAL MONEY radio show today and was astonished he recommended GE as his 'stock of the week'.

I realize the circumstances are different, but didn't the fool learn his lesson when he touted TheStreet.Com stock on the old TSCM show on FOX thereby leaving FOX little choice but to kick him and his show off the air?

-- posted by netzoid