Cramer graduated magna cum laude from Harvard in 1977. He's a showman who has sagaciously put himself in the driver's seat and can legally impact stock share value.
That is no idiot.
I agree with you.....I was looking for an opportunity to average down on NM and Cramer handed it to me on a silver platter....we will see how that plays out a year from now. He seems to flip-flop every couple of months on several stocks.
really i watch his show and he has made me a much better investor although i dont take his stock picks because he is apparantely as good as credit suisse, S&P, thomsons,morgan stanley, etc. When will everyone realize ALL ANALyst are only right 50% ot the time just like your local weather man. If you dont believe me check your favorite ANALyst and back check their recomendations you will see they are right/wrong 50% of the time.
So, "intelligent guy" follow him!
That fits for your profile.
Check your IQ, before your next
trade!..to decide what kind of
business can make you money.
And do not forget, to check the
track record of so called advisers,
before your next nosedive.
Are you a blind loser without any
Than go to a trader school!
Cramer - LOL
Talk to Bear & Stern investors & you'll get a better picture of Cramer. In fact, go back to BSC msg board earlier in the year & read. My advice is do your own DD. Cramer is for people who are lazy & don't know jack about investment. JMO.
Cramer called the Bear Stearns drop 6 months before it went down. He was furious that the feds weren't doing anything to protect investors.
If the link doesn't work, search "Jim Cramer blows a head gasket" on youtube. He KNEW way before the funk hit the fan.
It really depends on your perspective. Yes he graduated with high honors, but just because you have a degree, doesn't mean you can coast. And, it certainly doesn't mean every statement you make should be held with high honor without further evaluation. NM is building a big fleet, with minority states in a number of IPO children related to their core shipping business. With a low P/E and quality clients chartering out their ships, this is a long term play that will continue to pay off 3-5 years from now. If you are worried about volatility, then hedge your bet for now. For now I'll look simply at the facts for judging Cramer's comments regarding the dry-bulking sector.
1) He screamed stay out of the drybulking sector all the while it was experiencing a massive run. He stated that the drybulking industry was uninteresting, which he later apologized to his viewers for missing the boat, sorry for the pun! :)
2) Arriving late to the game he is promoting the wrong dry-bulkers stating his newly formed opinion, which he was so late on, is the supply/demand scenario. He is leading you to high-dividend plays without taking into consideration to growth. Probably because the drybulkers are fairly volatile.
3) He has been out of the hedge fund game for too long, and it seems by the time he mentions a stock, it is too late. The world, which means wall street, already knows about it.
Read the SEC reports. June 25th Oceanic Hedge fund aquired a >=5% aquisition of shares placing a significant bet on NM at these levels. Low P/E, expanding fleet, continued IPO's in a market that seems to be drying up on IPO's, and logisitics operations coming to fruition later this year. Who would listen to Cramer. He should be saying yes, yes, yes to NM.
I like Cramer, but frequently disagree with his opinions (we all do). I agree with his opinion here. I've been in and out of NM twice in the past year. Huge potential, but until they lose the long term contract strategy this company is in trouble. They more than doubled their revenues, but they are currently working at cost.
Would you agree to change to an 80 hour work week without an increase in salary? No, because you make half as much. This is what NM has done to themselves. A doubling of revenue and a decrease in profit is an embarrassing outcome that tells me management lacks the foresight needed to compete.
If they switch to spot rates, this thing could go to $100 by 2011. Right now it's a huge drybulk fleet working for free. Could get worse if the BDI keeps going up.