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Thread: Cramer's suggestions are often wrong

  1. Default Cramer's suggestions are often wrong

    I wonder what happened to those people who listened to him when he announced that the Feds were going to stop raising rates back when GM first anounced their problems. Check out what Chk is selling for now. It wasn't that long ago that he was saying it was what you needed in your portfolio because wallstreet loved chk. I still remember when he got in trouble when he got ratted out by an employee at the hedgefund he was running for telling Maria Bartiroma that certain stocks would be good investments. I've lost a ton of cash by listening to him. Be careful with this guy or you can lose you nest egg. I'm looking for someone out there that would advise me that the Feds probably would keep raising rates back when GM made their announcement. I'd like to find someone that would tell me not to have bought chk back when it was so high because it was oversold and would probably come way back down. He just needs to not try so hard to sell the listener on his bad advice. He needs to advise listeners that there are basic reasons not to follow his advice. I really think he should give the listener the odds of his advise not being good advice and if you follow it you can lose your shirt because he is often wrong. He'll still get paid but when he's wrong and it will be your money that is lost. Trust me only risk a small amt of your portfolio with this guy's risky recommendations.

  2. Default

    Hey guy, if you comb through this forum you'll find others who are in a similar situation.

    Don't ever, ever take anyone's word regarding your money. We don't pay the guy to give us advice. Its free, so you have to be a little suspect.

    It is important to use the information he gives us as that, just information. Some may be good, some may be bad, but ultimately we have to decide if we should follow that advice. I don't buy his reco's on his reco's alone. He gives us the ideas. I have to do my own research and figure out if it is the right investment for me. Other than that its just entertainment.

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    You should never do anything just because Cramer said to, you have to do your own investigating and agree with the reasons why Cramer likes the stock so that it becomes your trade and not Cramer's.

    For example, when Cramer was pumping Chesapeake, I looked up their balance sheet, cashflow, historic prices, insider trading, etc. to see if I thought it was a good enough risk. Then I researched natural gas to see if there was a really a bullmarket in natural gas and I concluded there was. When I purchased Chesapeake, I was making that purchase because I thought that it was a good trade- I didn't do it because Cramer thought it was a good trade. Admited I really don't like a lot of Jim's picks, but like he says you have to do your homework.

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    Is he right or wrong? There are two sides to the argument. He's been pumping some of these energey stocks on his radio show for quite some time so if you were lucky enough to get in when he started pumping them, you probably made a lot of dough. If you were unfortunate enough to get in on them recently because of his TV show when he was still pushing them, you probably lost some dough. It's all relative. I think he can be a bit irresponsible on his TV show at times, but he does ALWAYS warn viewers to do their own homework first.

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    You don√Ę‚‚¨‚„Ęt have to be right +50% of the time to make money; Cramer has said that on his show before. I play penny stocks and if I can get 1 out of 3 stocks right then I am sitting on some nice profits. Most of the stocks on his show are from the viewers who call in, and then he has 5 seconds to make a decision. I don√Ę‚‚¨‚„Ęt know about you but I spend hour√Ę‚‚¨‚„Ęs doing research and might even study a stock for 6 months before I buy.

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