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

Top 62. Sep 6, 2005 6:43 PM

» allancoleman - Re: "Buy a good index fund and watch him for entertainment"

In response to Re: Re: "Buy a good index fund and watch him for entertainment" posted by retiredinprescot:

nice post retiredinprescot . i don't always care for Jim's style , but i doult he is dishonest . i have often heard Jim correct himself on later shows and say he has made mistakes . and i have respect for those who continue to stick their neck out and attempt to predict this crazy market . i feel that Jim adds value cause he makes you think about what he's saying - even if you disagree . and this present market definitely requires alot of thought .

-- posted by allancoleman

Top 63. Sep 6, 2005 8:49 PM

» Happy_2 - Re: Re: Re: "Buy a good index fund and watch him for entertainme

In response to Re: Re: "Buy a good index fund and watch him for entertainment" posted by retiredinprescot:
As you suggested, I did do a Google search on Cramer. After looking at the first fifty entries or so and after trying several different searches, I could find no reference to his hedge fund record? Perhaps you could refer me to one of the many financial reports you said were done on his hedge fund record.

Also, could you refer me to the article where Spitzer states Cramer made 24% per year for 15 years for his account.

-- posted by Happy_2

Top 64. Sep 6, 2005 9:07 PM

» allancoleman - Re: "Buy a good index fund and watch him for entertainme

In response to Re: Re: Re: "Buy a good index fund and watch him for entertainme posted by Happy_2:

hello Happy_2 ,

suggest you try " jim cramer hedge fund " on google or start with : ( http://www.booyahboyaudit.com ) .

not sure how easy it's going to be to get a ticker symbol for a hedge fund that's no longer in business . but there's plenty of stuff on Jim Cramer if you're interested .

and i still doult that Cramer is dishonest . if he were , he'd a been caught by now i'd think . smile .

-- posted by allancoleman

Top 65. Sep 6, 2005 9:30 PM

» Happy_2 - Re: Re: "Buy a good index fund and watch him for entertainme

In response to Re: "Buy a good index fund and watch him for entertainme posted by allancoleman:

Thank you for your suggestion. In fact, the first search I did was "jim cramer hedge fund". Nothing there of a study of his hedge fund performance. Although, some of his PR flacks repeat what seems to be the ledgend of his 24% per year for 15 years hedge fund record.
No investigations or studies of his record, that I could find.

I did go to the sight you suggested. However, it is only concerned with his current record on CNBC.

You said, "... and i still doult that Cramer is dishonest . if he were , he'd a been caught by now i'd think . smile .."

I have to laugh at that dolt.

You need to be a lot more questioning concerning these undocumented, unaudited, uncertified claims.

The record on his CNBC picks I am sure will be well documented. But as far as his unpublished, unreported hedge fund results from the past, need I say more?

-- posted by Happy_2

Top 66. Sep 6, 2005 9:32 PM

» allancoleman - Re: "Buy a good index fund and watch him for entertainme

In response to Re: Re: Re: "Buy a good index fund and watch him for entertainme posted by Happy_2:

also suggest if you have the additional time to read " Trading with the Enemy : Seduction and Betrayal on Jim Cramer's Wall Street " by Nicholas W. Maier . going to amazon.com will give you a quickie review by several readers too .

and i agree with retiredinprescot that i doult Jim could produce those same results in this present market . what was done in the secular bull market of the 90's probably can't be successfully duplicated now in this secular bear market year after year after year . Jim was interviewed after his show today and he explained that he didn't really understand what was holding up the present market or why it was so high now .

like i said , there's alot of stuff out there on Jim if you're really interested . like Jim says on his show every day , he doesn't care about making friends , he only cares about making money . and if you don't want to follow his advice , i'm sure it won't bother him . let us know what you find .

-- posted by allancoleman

Top 67. Sep 7, 2005 3:17 AM

» azxcvbnm - Re: Re: "Buy a good index fund and watch him for entertainme

In response to Re: "Buy a good index fund and watch him for entertainme posted by allancoleman:

Frankly, I don't see why so many people are negative on Cramer. He's just another commentator giving his opinions on stocks, except that he actually has the balls to make predictions without covering his ass with multiple scenarios. He's more honest than most, tells you when he owns a stock, and frequently talks about his bad calls.

Most of all, he's entertaining, which is the #1 reason I listen! Those who buy and sell every stock on his advice alone deserve to lose all their money. What's that old saying? A fool is quickly parted from his wealth? Even if Cramer were banned for life, the same people would jump on another bandwagon, like the whole silver going to $1000 an ounce camp. Now THAT's irresponsible.

Nonetheless, if there's any evidence of his dishonesty, I'd like to hear it. So far, all I've heard are rumors. When a guy has this many opinions, he's bound to offend someone.

-- posted by azxcvbnm

Top 68. Sep 7, 2005 5:49 AM

» allancoleman - Re: "Buy a good index fund and watch him for entertainme

In response to Re: Re: "Buy a good index fund and watch him for entertainme posted by azxcvbnm:

smile

-- posted by allancoleman

Top 69. Sep 7, 2005 11:47 AM

» Happy_2 - Re: Re: Re: "Buy a good index fund and watch him for entertainme

In response to Re: Re: "Buy a good index fund and watch him for entertainme posted by azxcvbnm:

Regarding Cramer's honesty, in Oct. 2002, when the markt was at the very bottom, I heard Cramer on the radio say, "..Get out now!, the market is going to crash..". Two weeks later after the market had staged a huge rally, I heard Cramer on the radio saying. "..I am sure glad I got my people into this market before it took off..".

I have continued to look for a critical evaluation of Kramer's alledged 24% for 15 year hedge fund record, but have been unable to find it. I have seen this record mentioned several times. I have never seen or heard Cramer make the claim.

Also, I have read that Spitzer was a client of Cramers, but have not read where he reported his actual performance.

-- posted by Happy_2

Top 70. Sep 7, 2005 2:46 PM

» azxcvbnm - Re: Re What Is Cramer's Actual Record for 2000?

In response to Re What Is Cramer's Actual Record for 2000? posted by Kirk:

I also heard Cramer being negative at the bottom in Oct. 2002. He said that he expected the DOW to fall to 6500 which never happened. The thing about Cramer is that he changes his opinions as market conditions and new information arise. Since information and conditions change constantly, it should be no surprise that his opinions change constantly too; I don't think this is dishonest, but rather a reflection of his days as a hedge fund manager. One good habit he has that investors should learn from is that he becomes more negative as a stock goes up because the stock becomes less of a value. He's often said that he recommended a stock when it was 20% cheaper, and he cannot recommend buying the stock at current prices, though people just assume that the buy (or sell) recommendation stays in place regardless of what the stock price is.

I've heard that his hedge fund closed sometime in the first half of 2000, and that's what he uses to come up with his total returns. Exactly when is much more of a mystery.

Kirk, he did make those tech recommendations in March, but he also told people to get out when the tech market started to decline drastically. Buyer beware.

By the way, I've made money by listening to Cramer and modifying his advice with my own objectives and thoughts. I sold Charter (CHTR) well before he told everyone to get out because I just thought that there was no way the company could dig itself out of its huge debt load in light of performance. In retrospect, I should never have gotten in, as I usually don't like companies with huge debt. I gained with AT&T Wireless (ATW), Kerr-McGee (KMG), and I held on to BP (British Petroleum (sp?)) when he told people to sell, as I bought it for its dividends and for a long-term play. I also held on to Conoco (COP) and didn't sell when he recommended that people lighten up on oil and energy. I found Chesapeak Energy, and Marathon Oil (MRO) by doing my own research on the sector, but the ideas were generated from listening to his reasoning on energy, and from other callers (which often give good ideas). The point is that people have to do their own research and never make decisions on their money by blindly following one person's advice. By the way, these trades are in my "play" portfolio, which represents less than 10% of my investments in the market. I have the majority of my stock assets in index funds in many different sectors (my advice to the common investor). I'm currently 60% in stocks, 40% in bonds/cash.

-- posted by azxcvbnm