Watch out Jim Cramer: Wall St. Cheat Sheet is cranking up the heat!
Last week, WSCS wrote a widely-circulated post explaining that according to Jim Cramer’s own investment rules (as published in his books), TheStreet.com (TSCM) stock should be sold immediately.
Here are some of the details:
In his books, Cramer says to dump stocks when executives depart suddenly or companies miss their filings. Therefore, once The Street “failed to produce their 10-Q filing for the second quarter” and executives started jumping ship, an honest Cramer would have been forced to “Sell, Sell, Sell.”
Harsh stuff, and Jim fired back, asking the Cheat Sheet to apologize and remove the post. That only served to fan the flames, because WSCS is back again lampooning Cramer for his recommendation of CIT (CIT), which declared bankruptcy over the weekend and now trading at 28 cents:
As you can see in the chart above, Cramer recommended to buy CIT at the exact top. Thus, if “In Cramer You Trust” (like the CNBC commercials tell you to do), you are probably going to have lost 90+% of your investment by the open on Monday.
When Jim reads this he will probably email me again and ask me to remove the post and apologize to him. I suggest his remaining viewers email him and ask him to remove his stock picks from Mad Money and TheStreet.com as well as apologize. If Cramer was an honest guy and didn’t pathologically believe his own spin, he would add himself to his Wall of Shame.
As a highly visible member of the financial media, Jim’s is wide open to these types of attacks. Whether or note you agree with them, there’s no doubt that it comes with the territory – especially when wacky penny stocks like CIT are in the picture. The Jon Stewart encounter was a total disaster, and Jim would be wise to ignore these types of attacks.
To Wall St. Cheat Sheet’s credit, this is very effective marketing, and the more Jim fights them, the more visitors they’ll get.
Will Jim Cramer fire back? It would be entertaining if he did, but also potentially disastrous.
4 comments:
Its a very nice post and i hope that you will continue writing the good post in future!
Thanks for sharing!
- J.
Web Designing
I'm wondering why you are wasting your time watchiing what liars and idiots do like Cramer, Kass and other media liars instead of following the real experts.
In particular, one guy has been banned by the media despite his world-leading track record, Mike Stathis. I predicted everything in his 2006 book America's Financial Apocalypse and has since nailed every major market move, most were published in the public domain.
www.avaresearch.com
He is also offering a $50,000 reward to anyone who can prove the existence of anyone who can match his track record.
I've made a ton of money listening to him which is probably why he has been banned by the media.
HI
Good information about this book and there are many information in this book.
Most of people likes to buy this book online and so webmaster are making some Web Solutions for selling this.
Wih a 20% loss in TTWO...
A short in Sony before it went up 10%...
And a sale of ATVI minutes before it surged 10%...
Me thinks Cramer isn't the only one who should be looking after his track record.
Sorry bro but at this point I don't think anyone should trust any predictions around here.
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