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Jules Verne only needed 80-days to travel around the world in 1872. Apparently, things at TheStreet.com (TSCM) are so screwed up, they need half a year to get their books straight and regain compliance with Nasdaq (NDAQ) listing rules.
As I noted in an earlier post, according to Jim Cramer’s own rules you would have to sell TSCM upon learning of such deep rooted accounting problems. Rather than spending time fixing his flagship company, Jim will probably waste time emailing me again and hypocritically asking for me to stop telling people about TSCM’s problems.
If that guy spent less time on TV and hawking books, maybe he could deliver better shareholder value. But hey, he’s busy giving below-average investment advisory to the masses …
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I can’t stop clown cramer from sending his scam emails to me.
keep up the good work. and keep exposing these fraudsters
Thanks, Greg!
For the record, I am not focusing on Cramer because we are trying to put him down in order to sell our Newsletters. This is a matter of journalism and a movement to clean up the mainstream financial media by holding them accountable for their investment advisory.
As I have noted many times before, newsletters are not our core business model. Most people want everything free. So, advertising is going to play a central part in our business model.
If you don’t want to read about liars and crooks being exposed and criticized, there are many other websites for you to read. I, for one, have no sympathy for them and feel they are raping the savings of our citizens. So, I will continue to raise awareness of their lies and horrible track record.
I do not know why TheStreet did not file 10-Q. At the same time, being from Odessa, Ukraine, coming to US with $120 that Soviet Government let me take,and following stock market for past 35 years, I learn to “give Caesar his due”. Cramer ask his viewers to think before make a move. Stock market is like a back gammon – the odds stock in to your favor in the long run, even if you may loose in certain trades. Most of the people is willing to criticize. Very few willing to stick their neck and make a call to buy/sell. It is like being reader verse being writer. Many people is very good readers, but very few can write something that worth reading for the rest. Cramer is intelligent, provocative, and sometimes wrong, which do not make him bad stock picker.
I lost some money with his advise, too. At the same time, day-after-day he stand in front of national audience helping people to make money. Would you be able to do that? I doubt it.
Most of the people do not get that after you listen to his opinion you have to think. Oh my God, some of you never learn to do it.
Jealousy, anger for personal mistake should not be transfer to the man who try to help people, even through he made mistake in his “own household”.
Alex, you are correct: I could not give tens of thousands of stock picks to the public — it’s irresponsible.
Damien,
You are correct. I like Cramer. It is not because he is eccentric, though it helps to teach and entertain people. I would not defend Cramer, if I would not make 70% profit with his advise in the past year.
He always tells everyone that some of his advise like Lightning Round is made on ad hock base with almost no preparation. As I said, “Most of the people do not get that after you listen to his opinion – you have to think. Oh my God, some of you never learn to do it.” Cramer’s audience mostly consist of blue collar and young investors. It is not a snub club. They want to know what to do, think, and make investments. It is a very simple concept.
By the way, his conservative nonprofit trust portfolio outperformed market significantly. How many investor advisers can claim that? Did you checked it recently?
I have checked Cramer’s stats. When the market goes up, he can outperform. When it goes down, he underperforms. Look up his longer term performance. But I find it hard to believe his cumulative performance is doing well when he made strong recommendations for CIT and YRCW.
I too once liked Cramer. And I definitely applaud the idea of the mission to teach the average person how to invest. Unfortunately, I don’t think Cramer has put that mission ahead of his desire to sell books and get TV ratings. For my history with Cramer, read this:
http://wallstcheatsheet.com/breaking-news/sorry-cramer-we-will-not-bow-down/?p=3046/
I appreciate your thoughtful comments! Thanks, Alex. We don’t need to agree to have a good conversation.