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what a fucking douche bag
Incredible Videos . . .: Jim Cramer Told His Audience to Hold onto Bear Stearns
Incredible Videos . . .: Jim Cramer Told His Audience to Hold onto Bear Stearns
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He wasn't referring to the stock, he was referring to the investors that had accounts at Bear Sterns. They're accounts are now going to be owned by J P Morgan... -
wtf are you talking about?Comment
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The guy who wrote in was afraid that if Bear Sterns failed he would lose all the money he had in an account with them. Like what happened during the Great Depression, which is a scary thought.
He was basically telling the guy not to take his money out of what is like a savings account, because if people did that. It would be a run on a major bank and there would have been a lot more panic.
Does that make sense?Comment
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no and i dont care, i think its funny. hes a loud mouth asshole who thinks he hot shot who knows everything and hes full of shit.Comment
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What are you talking about? He was right and he certainly knows what he talking about. That doesn't mean he is always right...Comment
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the run on the bank actually did happen earlier last week. On tuesday, the bank had $17B cash on hand to meet upcoming obligations... Rumors started that theyvwere't going to be able to meet certain margin calls and a run on the bank occurred. Their reserve went from $17b to $2b by thursday. Which is why jp Morgan made the loan.
To be honest, I feel really bad for the empolyees. The company is 1/3 owned by employees who have now had a huge chunk of their value wiped out.
This whole financial mess us scurry.Comment
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There was a strong rally yesterday on Bear Sterns...I would be interested to see if the stock holders over rule this decision...Comment
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I followed this guy for almost 10 years and hes no better stock picker than the average Joe ...
On Tuesday, March 11, 2008, Cramer listed Bear Stearns (BSC) as a "Buy" in his Mad Money Stock Picks.[24]. When asked on his CNBC Show Mad Money whether concerns about the company's liquidity would warrant withdrawing their holdings from the company Cramer replied "No, no, no! Bear Stearns is fine! Do not move your money from there. That's just being silly!" By the following Monday, BSC shares dropped more than 92% in the wake of a bailout necessitated by a critical liquidity shortage. Cramer's recommendation was later parodied by Jon Stewart on the March 17th, 2008 episode of The Daily Show.Comment
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I never saw him tell people to buy BSC, so if he did, I'm sorry. However, he was right about people worrying about Bear Sterns liquidity. JP Morgan came to the 'rescue', unless this gets voted down.Originally posted by INTIMID8OR View PostComment
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haha, Cramerica is coming to your local PSU campus. I got a ticket and everything. Anyone have a question they want me to ask?Comment
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Originally posted by NewbieChris View Post
Ask him if he can explain how in 2006 his recommended portfolio lost money despite nearly every major equity market on earth being up between 15 to 30 percent :dunno:
Or more recent ..
How he can explain On January 22, 2008, He was confronted by Rick Santelli on CNBC for his bullish perspective over the preceding several months and how this contradicted his recent forecasting of a bear market (after significant market drops) and "how things were incredibly dangerousLast edited by INTIMID8OR; 03-21-08, 12:57 AM.Comment
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Will do...
but the reason 2006 was so profitable was because of these bullshit MBS that Cramer has never believe in...Comment
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