Jim Cramer Meltdown

[Lavoruis]

Did anybody see this?
This guy is human version of Daffy Duck , but on crack.
I can picture him having fatal heart attack" on the set of his show.

[Space Tycoon]

That guy's a joke. Totally overrated. :shakehead:


Or rather, overvalued, to use the market lingo. :anismirk:







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[Kaeos]

What happened? Did he lose it?.....more so than usual?

Hard to call someone worth that much money a joke. He made it somehow.

[Space Tycoon]

His predictions have frequently been discredited.

In fact, there have been analyses of his positions over the years which demonstrate that one would actually profit more by following the opposite recommendations.

I have no doubt that he knows how to make money. Big deal. So does Larry the Cable Guy. :lol:






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[Trazalca]

I assume you're referring to this meltdown??? (http://www.youtube.com/watch?v=SWksEJQEYVU)

I love how youtube can be SO accomodating. :Smirk:

[spammityspam]

Oh my God, such anger! About stocks!

[Lavoruis]

I assume you're referring to this meltdown??? (http://www.youtube.com/watch?v=SWksEJQEYVU)

I love how youtube can be SO accomodating. :Smirk:
I can be but if you have induced ban.... from You Boob,
its not very helpful

[Still Crazy]

Apparently Bernanke has no idea.

[Kaeos]

His predictions have frequently been discredited.

In fact, there have been analyses of his positions over the years which demonstrate that one would actually profit more by following the opposite recommendations.



So, not to pick a fight, and not towards you in particular, but I finally got to see this segment from CNN today. He happens to be talking about my industry.

He also happens to e absolutely correct on this one.:(

[Lavoruis]

It's well known that 10 corperations own everything.
so no real competition for industry.

[Space Tycoon]

Yeah, I have to admit I am not exactly the world's leading expert on the stock market.

However, I have a great deal of reverence for those who truly study the market, and it is my firm belief that Jim Cramer is just another in a long line of hucksters who tell us that the market can be beaten, if only we follow his tutelage.

Truth is, it takes a great deal of education and experience to really profit from the stock market. I don't claim to be the master. But there are no easy answers or Gurus who can get us there faster. You have to really educate yourself about the firms and industries you are placing your money with.

And that takes time and effort.








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[spammityspam]

I think, in a sense, that there are gurus. They're called brokers, and you have to pay them. And I think that there may be some merit in what Jim Cramer and his ilk say, because that's how they (or at least how they claim they) made their money, right? If it can be done once, it can be done again. The problem is that the more people who follow in their footsteps, which happens en masse after one of them publishes yet another damn business book with a peppy title, the less profit there is to be made in that particular corner. There may have been a gold mine there, but the thing was, Jim Cramer got there, filled his pockets, ambled off, told his friends, and suddenly there were three million miners trying to divvy up a relatively small lode.

Of course I nearly failed both the economics classes I've ever taken, so, you know. Grain of salt and all.

[Space Tycoon]

Ha ha. :lol: I dropped economics myself.

My preferred path to wealth is this: I'd rather start my own small business, work my ass off for about 15-20 years, and retire rich at age 50, like a few people I've known.

Fuck the stock market--unless you are a true expert, of course...



Nothing worth having comes easy.







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[spammityspam]

Oh how I wish I'd known about the drop deadline before I realized how badly I was doing. The missed opportunities... the horrifying GPA.

I really love how I can retain all the concepts from economics, but my inability to do the math is what earned me my D this last semester (agh, agh, it hurts). I totally get everything we learned; it's just making the graph work the right way that gives me trouble. Unfortunately, all of economics is taught that way. Freaking math nerds, ruining the world...

The problem with small businesses is that, depending on your market, you may end up losing everything and dying broke and alone, found three weeks later half-eaten by Alsatians, etc., and generally speaking long-run profits don't last. Generally speaking most industries run at an equilibrium with just enough firms and product so that everyone breaks even, but no one really makes a profit in the long run. If they start making profits, entrepreneurs see the profits and muscle in; if they start losing money, a few firms leave, they break even again. The more competitive the market, and most markets are extremely competitive, the more this holds true. FYI: never become a wheat farmer. I learned it from a book. Same to owning organic apple orchards. The more you know!

[Space Tycoon]

Not everyone gets to be Bill Gates. :OhWell:

But, if you stay in an industry long enough you learn all of the inside information that isn't readily available or broadcast openly.

The key is to retain personal private ownership of your firm. Sure, you take all the risks and you may indeed end up eaten by Alsatians. But, in the long run you see most of the rewards.

The problem today is that people want everything now, no waiting. That's how stock market snake oil salesmen get rich, by feeding off of the naivete and ignorance of the general public. Some of their advice may be good, but you have to read the fine print. The house always wins.







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[spammityspam]

To me it looks like the real trick is to be the house, then.