Black Swan Wrote: ------------------------------------------------------- > memalos Wrote: > -------------------------------------------------- > ----- > > > Judging people by their bank accounts is just > > wrong. > > > > Whoever says that money can’t buy happiness… > > Doesnt fukcing have any. > > Look at the smile on my face, ear-to-ear baby. > > > Firstly, even if that were true, it still sucks as > a judging criteria. > > Secondly, you sound like some drunk juvenile that > just made his first $100 dollar bill. Stow the > swagger there Sally. You’ve never seen Boiler Room? You should definitely check it out.
comp_sci_kid Wrote: ------------------------------------------------------- > To be fair, real random events are extremely rare > and very hard to come by Huh?
JensensalphaMale Wrote: ------------------------------------------------------- > Black Swan Wrote: > -------------------------------------------------- > ----- > > memalos Wrote: > > > -------------------------------------------------- > > > ----- > > > > Judging people by their bank accounts is > just > > > wrong. > > > > > > Whoever says that money can’t buy > happiness… > > > Doesnt fukcing have any. > > > Look at the smile on my face, ear-to-ear > baby. > > > > > > Firstly, even if that were true, it still sucks > as > > a judging criteria. > > > > Secondly, you sound like some drunk juvenile > that > > just made his first $100 dollar bill. Stow the > > swagger there Sally. > > > You’ve never seen Boiler Room? You should > definitely check it out. Yep!!! Busted. I love this group interview scene. In fact I can recite it from memory. As you can see my fellow AFers, the only skill I picked up in college is plagiarism. I also use it in my job, when I look at what other brokers are saying bt my stocks under coverage. I think Einstein said that a genius is somebody who can hide his sources, somethin like dat.
Cramer has been very solid for the last 12 months during the collapse. He has made some brutal calls but who hasn’t during this period. I would like to see anyone do an hour show every single weekday and come up with (A) relevant and interesting material and (B) be accurate 75% of the time. I am not ashamed to say that I “dvr” his show and watch the first 15-20 minutes every single day. His macro calls have been solid and his CEO interviews are decent (he asks somewhat hard questions and probably wants to ask tougher questions of the CEOs, but he can’t insult too much or else they would not come on the show). When he gets to the Lightning round and “Am I Diversified”…DVR gets to rest and delete the rest of the show. “Am I Diversified” might be the single dumbest show segment in any genre, period. I feel very confident making that statement.
Who even cares if Cramer is wrong 75% of the time. For those who do, I recommend you read “Market Wizards”. Many of the best traders are wrong up to 80% of the time. The difference is they make much, much more $$$ the 20% of the time they are right than they lose when they are wrong.
Cramer rulez… Booooyahhhhhhh
dzmfntz Wrote: ------------------------------------------------------- > Cramer has been very solid for the last 12 months > during the collapse. He has made some brutal > calls but who hasn’t during this period. I would > like to see anyone do an hour show every single > weekday and come up with (A) relevant and > interesting material and (B) be accurate 75% of > the time. I am not ashamed to say that I “dvr” > his show and watch the first 15-20 minutes every > single day. His macro calls have been solid and > his CEO interviews are decent (he asks somewhat > hard questions and probably wants to ask tougher > questions of the CEOs, but he can’t insult too > much or else they would not come on the show). > > When he gets to the Lightning round and “Am I > Diversified”…DVR gets to rest and delete the > rest of the show. “Am I Diversified” might be the > single dumbest show segment in any genre, period. > I feel very confident making that statement. I understand Cramer’s show is only an hour and he doesn’t have time to run through a portfolio of 25 stocks but why does he try to pass off the idea that you can be diversified with only 5 stocks. His diversification decision is purely arbitrary. Cramer only really looks for sector overlap. p.s. i love cash cab
former trader Wrote: ------------------------------------------------------- > Who even cares if Cramer is wrong 75% of the > time. > > For those who do, I recommend you read “Market > Wizards”. Many of the best traders are wrong up > to 80% of the time. The difference is they make > much, much more $$$ the 20% of the time they are > right than they lose when they are wrong. I read market wizards. Typically the payoff structure you’re referring to occurs with strategies that use an option blend, not straight equity as Cramer plays. Give me evidence of how his 20% right have a bigger payoff, or even how this would occur in a straight equity strategy and I’ll go for it.
It would be hard to get up there and opine on stocks and the market for a few hours everyday. . . his need to be entertaining makes his focus way too short which is a disservice to people who aren’t equipped to assess his ideas and recommendations with a bit of skepticism.
Black Swan Wrote: ------------------------------------------------------- > former trader Wrote: > -------------------------------------------------- > ----- > > Who even cares if Cramer is wrong 75% of the > > time. > > > > For those who do, I recommend you read “Market > > Wizards”. Many of the best traders are wrong > up > > to 80% of the time. The difference is they > make > > much, much more $$$ the 20% of the time they > are > > right than they lose when they are wrong. > > > I read market wizards. Typically the payoff > structure you’re referring to occurs with > strategies that use an option blend, not straight > equity as Cramer plays. Give me evidence of how > his 20% right have a bigger payoff, or even how > this would occur in a straight equity strategy and > I’ll go for it. I’m guessing the “cut your losses and ride your profits” philosophy. How you actually do it is another story.
Using stops to cut losses does create a bit of an option-like payoff, although with options you can wait for things to turn around before expiration. On the other hand, using a stop doesn’t require paying a premium.
Mad Money is a very entertaining show I saw Cramer speak at a public event and the guy is brilliant, its just very difficult to give detailed advice and views when your doing it for the masses. He has to boil it down to buy or sell within 20 seconds, if anyone takes it as a recommendation they are crazy. He makes people understand (by telling them repeatedly) the need to do DD and he informs people who are not in finance. He tells people to only invest after they’ve set aside for expenses etc. its just entertainment and you take what you want from it based on your knowledge of the markets. He presents some excellent themes though and ways to think about certain events. booya