Cramer is an entertainer, but no one should do anything based on his sayso. That said, he first brought LINE to my attention. I did my research and after a while bought in - I've been buying LINE/LNCO ever since and it is one of my biggest holdings. And yeah, I bought more when he said to sell. Thanks Jim! He also once recommended VICEX and had the CEO on. I didn't buy VICEX, but I did buy CHD which at the time was one of their biggest holding. That is the cornerstone of all my accounts.
Too many people want to take whatever they hear from some talking head as gospel and to go the bank with it. With Cramer, you have to consider his audience before you go slapping him around. You can't recommend a company under SEC review when you've got millions of novices listening to your show. Now that the smoke has cleared he feels it's okay for all the newbies to buy in. That's a good thing. You can't take what he says in the same manner as you would someone like the Fast Money guys. Cramer is an educator for new investors, he's always going to err on the side of caution. I've done well listening to Cramer talk about an industry and then researching other stocks in that industry. Don't be buffoons, use Cramer the same way you use other "free" resources.
Well said, Cramer does not recommend to the public stocks that have clouds over their heads. And for good reason. He may have felt that during the "crisis" for LINE/LNCO during mid-year 2013 that things were overblown and it was a great time to buy but he couldn't say that on the air in case things really did go bad. Cramer does give pearls of wisdom but you have to read between the lines sometimes.
Cramer has a disciplined way of investing. He sold in the high 20's because he believes you should sell if a company has accounting issues, which Linn had. He then got back behind the company once the issues were resolved with the SEC.