lol: Cramer's AGNC calls are about as accurate as his Bear Stearns call...
Jim Cramer on October 10 (lightning round): "There are issues involved in these mortgage REITs. They might not do as well in this environment. The dividend could go down a little bit. But you stick with these kinds of stocks through thick and thin. I'm not backing away from it."
AGNC Price: $33
Jim Cramer on January 15 (lightning round): ""I used to fight this tooth and nail, because the dividend was a red flag. I now believe it can handle this yield. The dividend might not always stay this high, but I would buy it."
AGNC Price: $31
Great advice right? No wonder we saw so much volatility in AGNC this year with retail taking advice from the mentally handicapped like Jim Cramer, who were pumping the stock to avg. Joe investors.
But seriously, don't you guys just love this double-speak? As the stock was coming off the highs 3 months ago he was sticking with AGNC "through thick and thin" and wasn't "backing away from it".
Now it turns out he apparently (at the same time?) used to fight AGNC bullishness "tooth and nail" and apparently always knew the dividend cut which never came (way to confuse retail #$%$!) would be a "red flag", BUT now, 3 weeks after the ex-date confirmed there would be no Q4 div. cut and the stock has safely made a technical bottom from panic selling, NOW Cramer is bold enough to tell retail he's apparently done "fighting" it and they can get back in...