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  • one_dogydog one_dogydog Feb 2, 2013 10:46 AM Flag

    Cramer explain how he plays his game.

    One of the basic strategies of Cramer’s fomenting, he said, was, that in the situation a hedge fund (such as his own) was holding a short position in a company which reported excellent quarterly news, the fund would call up brokerage houses and either feed them bad news / blatant lies, or order a huge set of short sales — suggesting that investor confidence in the company was falling. The slew of bad news would create a temporary fall long enough for the manager to resolve his short position and conclude a tidy profit.
    Cramer refused to talk about some of his techniques, saying he was “not going to say it on TV.”
    Overstock CEO Patrick Byrne, said the CNBC reporters used this technique to spread lies and rumors about his company, combined with a slew of bad / false financial reports and analysis around the Internet and otherwise.
    Many analysts are suggesting that much of the CNBC enterprise and Jim Cramer’s specifically success came from a strong understanding of how to control the system — control the news, you control the stock.
    “We had it down to a science in 1992: my wife would pick stocks that technically looked ready to go up, or she would keep track of merchandise to see what was down to tag ends. She would then generate a list of stocks that could move quickly on good news. Jeff would then go to work calling the companies to try to find anything good we could say about them [...] we would load up with call options and common stock and then give the good news to our favorite analysts who liked the stock so they could go do their promotion. That would get the buzz going and we would then be able to liquidate the position into the buzz for a handsome profit,” said Cramer in his 2002 book Confessions of a Street Addict

    Sentiment: Strong Buy

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    • coffeebook1@ymail.com coffeebook1 Feb 2, 2013 12:36 PM Flag

      And they continue today..with CNBC being the bully pulpit. it's all jEWcoersion and until people stop investing with these ajEWpigs, they will continue stealing from America until there's nothing left. They're parasites....always have been.

    • That was before the internet era..now you got bloggers full of pumpers and bashers . That is why there is no faith in the analysts and no reaction to them. They are long gone and they have no edge and not allowed to get inside information like they used to. Their research is as good as yours probably yours will be better because your are putting your money at risk. All the big companies have presences around the world and these analysts are local and no brokerage firm is going spend money to send these analysts around the world to research.

    • Bummmmmmp

 
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