Cramer is good for beginners and getting the background on how the market works. He does pick some winners but also has some real dogs, as do most of us. He tends to forget and gloss over those. From a Macro perspective I respect his views, from an individual stock perspective- do your own diligence. On KMx- I am not sure why KMP and KMR on the "merger" news and went to close to $100 but with Europe teetering and China stalling, I think oil goes lower still. But that is my perspective of course and a very good chance of being wrong. The one lesson I learned this cycle is take the loss, sold VNR calls for a $5K loss back when it was $28.5 and fought the "it will come back...I am not wrong" voices in my head. Just take the loss (5% on stock 10% on options for me) and move on.