thanks to j. cramer (mad money), today all my savings vaporized. i thought his recommendations were honest and forthright. how wrong i was. he said to buy GS at $250 cause it was going to over $300. Buy google as $700, it was going to $1000. wellpoint at $70 was a screaming buy. now that i have blown my savings my wife is processing divorce papers and forcing sale of the home so she can get her share.
lawyer advised me, if possible, sell my equity to wife and move to amsterdam to avoid paying off the creditors.
What I've learned about Jimmy C is his timing is usually off. Lately I've noticed that he is being a pig with some of his holdings. Like he was all in SHLD around $60 then it runs to the $190's and he doesn't sell it and look at where it is now.
He got way too greedy there and told Cramerica that it was going to $300. Then he loaded up on GS at $140 but when it ran to $250 he did nothing. Now it's all the way back down to where he bought it a year or so ago.
Who am I to say this and that as I don't have millions of dollars but he does flip flop like crazy from day to day on his picks. I tune in from time to time but not at all like I used to.
I'm watching to get ideas and maybe an IPO or something I missed in the news. Thats about all. Like someone just said before my post he is not about making friends so if you lose your azz he could care less and thats the truth.
You're forgetting that Cramer is also a lawyer. He can give you advice on how to settle your divorce! If he got you into it, let him "help" you get out of it. Just give him a call and he'll personally put all of your assetts on the Sell Block. You think you're in the poor house now? Hey, you gotta give the man SOME credit......he never said he wanted to be your friend.
Let's see, your name is playfulchic, Female, Chicago, Il & you have a male avatar.
In your post you talk about your wife divorcing you..
My friend (or my dear) looks like listening to Cramer & losing $$ is the least of your problems.
Tell ya what, stop watching Cramer & start watching Jerry Springer...
Cramer also told people weeks ago to buy Bear Sterns in the 80's as it was a good stock at that price to be bought out. Well Bear Sterns crapped out today in the friggin 20's closing at 29.
Not to mention his stock of the year call here for last year when NYX was trading in the 95 to 110 range. Saying that it would get a 12 EPS goto $240 by end of 2009.
You can't make this stuff up. I also feel bad last month when some woman called him up and said she had everything she owned in yahoo. It was at 18 and he said to sell it because a buyout wasn't coming. Then afew days later MSFT put an offer for yahoo sending it upto 30.
He is more concerned with self promotion and being popular with college kids than making little people money.
AND anyone buying a stock without doing their own homework deserves to lose. If Cramer said Jump into the fire--Hurry--It's hot--WOULD YOU? His show is very educating---you can learn a lot without
investing a dime!!!!!!!!!!!!!!!!!