What is us up with Cramer bad mouthing NYB, twice today? It is amazing how negative Cramer is and continues to be on NYB, as a bank and a company!
Cramer is a smart man, well-educated and made buckets of money as a hedge fund manager, for his own firm. I respect all of that and I don't "take lightly" his negative opinion of NYB. It has me perplexed and confused and somewhat worried. I am not worried enough to sell my stock but it certainly gives me pause to want to look into his disdain for the company.
Anybody have any background history on Cramer relative to NYB stock?
Cramer made another comment yesterday (1-11-10), about NYB, saying that the FDIC "gifted" the Am Trust Banks to them (NYB), and to now look at how NYB stock is flying.
To me, it now becomes quite obvious, that Cramer holds a grudge that the FDIC did not "give" this transaction (Am Trust) to one of Cramer's anointed banks, like Hudson City, First Niagra, etc...and is making in know, by inference.
Cramer is smart but I would love to know where his "aversion" to NYB comes from or was initiated from.
Cramer is a legend in his own mind. His batting average is not spectacular. I cited his astounding "blown call" on DRYS. There was also DSX. Take note of the fact that he does not move stocks in "after hours" like he did three or four years ago. Folks woke up and realized that he is not omniscient.
You should do quite well, if long on NYB.
Yes,Cramer did make a slighty negative comment regarding NYB. He said something about their secondary offering in a sarcastic way. And he always calls New York Community Bank "New York Bank". That is why people get confused.Don't forget he still need to take medication every day to function, and some times he forgets.But it makes for a good fun show. Im not saying he is not intelligent,But if it were not for his wife he would still be living in his car.
New York Community Bancorp is NYB
Bank of New York Mellon is BK
I guess I wouldn't be surprised if he took a shot at NYB, even if TheStreet.com considers it a "buy". He does not strike me as very stable; extremely intelligent but with "issues" in my opinion. (When I have seen Cramer and Erin Burnett together on CNBC, it's a train wreck.)
I bought DRYS @ 15.94 and sold it approximately one year later @ 119. Never once did he speak well of it.....talk about blowing it.
I laugh at Cramer.He was pumping Hudson City for months ,then he said not to buy it because it was too conservative and then he pumped it again.He pumped NYX when it was over $70 and now he says to sell it in the 20s.
The dumbest thing of all was when he said on his show last night was that the economy is now booming.
Sales were anemic for December despite the better profit picture.Sales were horrible last December and many stores couldn't show more than a 2% increase in sales.Booming?I don't think so.
Is it possible that you have your financial institutions mixed up and are confused about which bank was being discussed?
What is quite inconsistent and questionable with what you are claiming is that Cramer's outfit (TheStreet.com) reaffirmed its "buy" rating on NYB this very afternoon.
They stated, "The numbers: Third-quarter net income soared 70% to $99 million, or 28 cents a share. Revenue climbed 9% to $412 million. Its gross margin widened from 43% to 54%, and its operating margin extended from 24% to 36%. The company holds $154 million of cash and liquid securities, and nearly $14 billion of debt. Its 3.2 debt-to-equity ratio indicates considerable leverage. The stock: Our model rates New York Community Bancorp "buy." The stock has jumped 26% during the past year, beating the Dow Jones Industrial Average and keeping pace with the S&P 500. The shares are cheap compared to those of other thrifts and mortgage companies....."