Thank you for finally explaining to the idiots...I mean the masses out there that stocks like Netflix, Tesla, and Amazon trade at ridiculous valuations FOR RIDICULOUS(you say cult/experience) reasons.
See, there are potentially millions of people who approach the market on an INDIVIDUAL basis. Not likely, but potentially.
Now as different people, like everything in life, people can approach things in life stupidly/carefree with disreagrd for the rules(fundamentals) and then there are more disciplined people who approach things fundamentally.
The problem is for years, you the clown have continued to approach the market and your explanation of how the market should be viewed/approached in the same way you ran your hedge fund; like a gmabling schmuck.
Sure, you had good years(though you've openly stated in your own book that there were times where you came this close to going bust); people who come close to going bust generally are not following the rules.
How you still have a show and how people believe)people actually calling in to thank you is just shocking) the show is helpful to people and EVEN TO SOCIETY is beyond me,
But at least for two minutes, at the end of your show tonight, finally took two minutes and explained irrational behavior for what it is regarding certain companies and their values; irrational.
Warren Buffet has not made money in everything because warren buffet stuck to FUNDAMENTALS.
Could he have made more money GAMBLING with things not trading off fundamentals and things he didn;t understand? Sure, but we all know what that is and in the long run....there is no way to know.
But a company trading cheaply(low PE, lots of cash on hand or ability to make cash) well, that is the secret. Pure and simple. Go out and figure out where people are going to spend their money, look for the companies that are not being appreciated for whatever reason, and get greedy....then just wait.
But that isn;t exciting enough for cramer and CNBC who need bro
Here is a question I have; when was the last time you ever heard cramer talk about a company's cash flow/production?
Seriousy? You only hear him become a fan of a company AFTER they make tremendous returns be it Netflix, Under Armour, Tesla, Amazon even.
But when have you ever seen him take a company like Deckers, which for those who don't realize over the last 11 months is in the top 100 of stocks with a 100%+ return, and discuss how much cash it makes, what management will be doing to make MORE cash and increase revenues in the future and why it is a bargain?
No, he takes a company like best buy with a business model that is proven to be DYING despite the stock being suped up and pumping it because of "great execution" by management.
Warren Buffet always states "I won't invest in something unless I could predict it would still be a winner 10 years down the road".
With online sales increasing by double digits every year and clearly becoming the main form of shopping, how does Best buy become something good? They completely missed the boat when it came to online distribution and now are very uncomeptetive.
Don;t let Cramer fool you with his "great execution by management" propoganda". There is no way to see how Best buy is alive and a winner 10 years from now. It can;t innovate. Low barrier to entry business. A pure dog as Gordon Gekko would say.
But Cramer is "educating" you. More like continuously making $$$$ up.
Never talks about cash. He is a momo clown. Just a momentum junkie playing the craps table.