What is Digg?195 Comments
- duckkg5, on 10/06/2008, -7/+74OMG WTF Jim that's like yelling fire in a crowded theater
(yeah i guess digging it wasn't a good idea either. My b) - dppgroup, on 10/06/2008, -5/+60You're selling, he's buying MUAHAHAHAHA
- punchinelli, on 10/06/2008, -9/+50Some food for thought: the last time Cramer went ***** over the market, he was RIGHT.
http://digg.com/business_finance/CNBC_Cramer_goes_ ... - CaptainShaun, on 10/07/2008, -0/+38Most people are only listening to half of his message. What he's saying is that the market is low now, so don't sell (hold onto your assets) except for what you are depending on in the next few years, because as low as the market is now, it's going to get even lower (haven't hit bottom yet). He's right too.
Any money you feel you need in the next few years take out of the stock market, because it'll only shrink. Anything else you can spare to keep in there for a longer-term, keep in there, because even if the market's going to keep falling for a bit, it will rise higher than it is now.
It's not enough that you read what he says, you must understand. Don't panic and keep a clear head and you'll minimize your losses. - sheeplescareme, on 10/06/2008, -17/+52cramer is a moron. he is always wrong and much like a meteorologist, he shrugs it off and still gets paid ( i am not saying that he is right or wrong here, i'm just saying that he has a ***** record).
- rv361162, on 10/06/2008, -5/+39THIS IS WHY THE ***** BAILOUT WAS NOT NEEDED!
Thanks Washington, you just made my money worthless and did absolutely NOTHING in the process to help the stock market.
http://www.700billiondollarparkinglot.com - nickstang, on 10/06/2008, -9/+35Don't just get out of the stock market, get out of the dollar. Invest in ETFs.
- TheTaoOfBill, on 10/07/2008, -1/+26You guys are not understanding what he is saying. He is not telling you to get out of the stock market. That's retarded. Even in depression times there is money to be made. In fact that's the best time to invest.
What he is saying is if you are planning on retiring in 5 years or you have plans in general to use your money on within 5 years it would be stupid of you to invest in a bad stock market.
If, however, you are making a long term investment there is no better time to invest. - Solstice, on 10/07/2008, -0/+22Money that you need in the next 5 years shouldn't be in the market anyway. The best investors are not short term investors. Good companies with strong fundamentals will always be sound investments. I'm glad that I scraped and saved so that I could dump as much as I could into stocks and mutual funds in 2001. The gains that I realized 5 years later paid for my house and fattened my retirement account.
Go ahead and panic and pull your money out of stocks - the calmer folks will be able to pick up a bunch of good ones at rock-bottom prices. I'll bet that's what Cramer is up to as well. - protonone, on 10/07/2008, -0/+20I'll never listen to this man after he said to sell Stark Industry stock.
- zenerdiode, on 10/07/2008, -1/+18Wow, that's great advice. Do you mind telling which ETFs to pick? I mean it's not like ETFs are as varied as stocks are or anything. It's not like there are ETFs in the financial sector that are dropping faster than Palin's poll approval. It's not like there are emerging market ETFs that have tanked harder than the S&P 500 ETFs. So pray tell, which ETFs do you recommend.
And to cut the sarcasm...man if you're taking financial advice from Cramer and/or Digg...*****, I feel sorry for you. Look, no one person can time the market...not even the great Warren Buffett or Carlos Slim. Trust no one...do your own research, and at the end of the day, understand that you're just gambling. - ZogDog, on 10/07/2008, -2/+18Porkchop Sandwiches!
- seddyei, on 10/06/2008, -5/+21It's a bad sign when highly-optimistic Jim Cramer tells you to get out of the market. A very bad one indeed.
- samard2002, on 10/07/2008, -2/+16 But, on March 11, Cramer told an e-mailer not to sell the beleaguered investment bank’s stock on his show’s Web site:
“Dear Jim: Should I be worried about Bear Stearns in terms of liquidity and get my money out of there? --Peter
Cramer says: “No! No! No! Bear Stearns is not in trouble. If anything, they’re more likely to be taken over. Don’t move your money from Bear.”
On Jan. 17, 2007, Bear was trading at its high of $171.51 a share. Since then, it has been racked by the mortgage turmoil. On March 11, when Cramer posted the e-mail and his response, the stock closed at $62.97. As of 10:00 a.m. on March 17, the stock was trading at $3.72 a share. - Seldon2639, on 10/07/2008, -1/+14Uh... That's a bit of a self-fulfilling prophecy. If there's a fire-sale to dump any and all stocks, the prices are going to plummet. It's one thing for a crash to happen at the end up a bubble (investors becoming more sane after their irrational exuberance), but it's another for a crash to happen because people have been told to pull their investments by a television personality. If people believe him in any great numbers, it'll be a disaster for the market. Though, admittedly, it'll have three benefits. First, he'll be able to prove himself right when the market plummets due to the selloff. Second, people who short sell the markets will reap a return. Third, I'll be able to buy good stocks on the cheap. Actually, I take it back, digg this up. Everyone, sell everything.
- cuevas4711, on 10/07/2008, -0/+12He is telling people if you need money for retirement or for their children within 5 years then take that out, its pretty general advice not to risk money that you are going to need soon but you just don't hear it from this guy.
- ruforealz, on 10/07/2008, -1/+11Wait, isn't that a good thing if the theater is on fire?
- Angostura, on 10/07/2008, -0/+9Precisely, in fact it's probably wise advice at the best of times. The people going round saying the advice is akin to treason should get a grip.
- rkzda, on 10/07/2008, -0/+9How many ***** times does it have to be said! HE said SAVINGS(100k or less) in sterns was SAFE. ***** moron, that youtube clip edited out the important part. He wasn't talking about the stock!
- deterministic, on 10/06/2008, -8/+17Great.
Next week, I'm buying after all the people that listen to Cramer get out.
Thanks, Jim. - kelway, on 10/07/2008, -0/+8Because you'll never be able to call the bottom; market timing is fool's game.
- mistamoose, on 10/07/2008, -4/+12Irresponsible, ignorant, and just plain bad advice. While most financial advisors recommend investing for the long haul, Cramer apparently advocates for the buy-high, sell-low investment strategy ...
- sheeplescareme, on 10/06/2008, -1/+9and what had he been saying in the six months prior? hmmm? he's generally good at calling the inevitable.
- NCSD, on 10/07/2008, -2/+10Jesus christ digg is depressing these days.
"Get out of the Stock market!"
"Human evolution is at an end!"
"Global Warming will kill us all!" - daakone, on 10/07/2008, -1/+9Cramer has a history of buying all the way down, and then panicking at the botttom. It's a relief to see him finally flip out.
- browntiger, on 10/07/2008, -0/+8Granted Cramer is an idiot. But I would not completely shrug off what he is saying.....
Look at US fundamentals. Millions of baby boomers retiring... They are requesting distributions, closing off 401k and other investments and converting them to distributed payments. Normally it is not such a big deal except this time too many baby boomers and new generations that is not capable of investing: because low salary growth, combined with high inflation. I think we will be in some turmoil for few years. - dn11, on 10/07/2008, -2/+9Seriously? do your fantasy conspiracy theories have to be that elaborate? Cramer is a shill for the almighty dollar, that is all.
- elshizzo, on 10/06/2008, -0/+7Video
http://www.youtube.com/watch?v=uoSLVCEGKko - narfizzle, on 10/07/2008, -0/+7NO ONE ftw.
- Jeez, on 10/06/2008, -4/+10well he has been right most of the time he was calling for Dow 8200 couple mths ago post people shrugged him off.
Right know his advice of buying industrial with good dividend is pretty solid advice. - halftank, on 10/06/2008, -7/+13I wonder how people do by doing the exact opposite of what Cramer says to do - ie. short what he recommends, and buy when he says sell. I think they'd do pretty well.
He seems to be consistently wrong - see his recent recommendations on Lowe's, Sirius, and Wachovia. - DCMacHead, on 10/06/2008, -0/+6he learned well from being on the buyside. he sounds like a sellside sales trader.
- TheTaoOfBill, on 10/07/2008, -3/+9/CrazyPeopleThread.
- inactive, on 10/07/2008, -0/+6Yes, I joined digg in the hopes of finding intelligent discussion on financial markets. I am sadly disappointed. I don't know what many people on here have going for them but it's certainly not intelligence. It all seems very homogenized and immature. Like a bunch of kids screaming at once about subjects in which they know very little.
- dext3r, on 10/07/2008, -0/+6You forgot Poland.
- vikingstad, on 10/07/2008, -4/+10This is the same guy who said Bear Sterns was safe and sound the DAY BEFORE it crashed and burned. Don't believe anything coming out his mouth!
- inactive, on 10/07/2008, -0/+5yes, movies can distract from real life in a bad way sometimes.
- str0bot, on 10/07/2008, -0/+5Alternatively, they could have simply returned to a more accurate approximation of true value from an overvalued position. Many assets were overvalued for a long time
Although I'm not fully arguing your statement - because I agree there are many undervalueds out there, but also plenty of the alternative - missedmyexit, on 10/07/2008, -2/+7Jim's just setting himself up to snap up the deals when everything hits rock bottom. Don't believe a word that crook says... regardless of what the media whores want you to believe, NOW is the time to buy.
- TheJimid, on 10/07/2008, -1/+6Fire in a crowded theater?
That's like Yoda saying The Force is gone. - Chirp08, on 10/07/2008, -0/+5Most likely his plan, get all the scared idiots out, buy a bunch of cheep stock in solid companies, 20 years from now = massive profit.
- emotu, on 10/07/2008, -0/+5Cramer is and was always the biggest moron the stock market has ever seen. reacting on greed and fear rather than sound judgement
- justjoehere, on 10/07/2008, -0/+5You can't hold any analysts to that. Bear Sterns lied in investor calls and on its balance sheet. Ultimately, investors should be able to trust the company; but in the end, the company exists to serve itself, not he shareholders. If you aren't buying or holding on to shares the company loses value. Companies don't like that and consequently, you establish a motive for deception. And in this case, the temptation for Bear Sterns execs where to much to ignore. This is why the FBI is investigating them (they weren't a countrywide that created fraudulent mortgages; they are on the other side of the equation)
- brewvy, on 10/07/2008, -0/+5Am I missing something here? Hasn't it *always* been the rule to keep money you need within the next 5-7 years out of stocks? Isn't this basically Cramer shouting "The sky is blue! Oh my god! The sky is blue!"
*edit*
Others in this thread basically said this before I got around to it. Go digg them instead of me =p - Hangly, on 10/07/2008, -0/+5If it's not good news it's not true!
La la la la la let's get ice cream. - Hangly, on 10/07/2008, -1/+6If he's buying he's a moron.
- elmetald00d, on 10/07/2008, -0/+5the main reason for the bailout bill was to keep banks alive.
simply put, with all these banks failing people are losing trust in the banking system, if we reach the point that people really don't trust them down to the wire that they will not deposit money, that's when we lose.
that's what happened in the great depression, people didnt deposit money, therefore banks couldnt loan money and couldnt make money therefore would fail. who loses in that scenario? Businesses, people wanting houses, consumers, and the goverment.
the savings gap cannot occur right now. the FDIC increase in the bill cannot be afforded by the govt. but that's not why it's there, it's there simply for more re enforcement to trust the banks. we need to trust the banks. DEPOSIT YOUR MONEY. and that's how we can keep the credit lines back to normal. the govt money is there to pay for the bad loans that are losing hte banks money.
once the banks start seeing the money from the bailout bill (could be up to a year) then they will start lending more, and this will all be closer to normal.
do not stop trusting the banks. - DCMacHead, on 10/06/2008, -0/+5The last time the world came to an end was in October of 1998 in the wake of the Asian currency crisis, the Russian debt default, and Long Term Capital Management (run by Nobel Prize laureates) imploding. Cramer said to get out--it was pretty close to the bottom.
- bc289, on 10/07/2008, -2/+6get a grip, few people are right more than 50% of the time in the stock market. Then again, many of them don't give financial advice to others... Even still, you can just as easily point to 3 picks where he was consistently right.
If you are listening to his advice blindly on whether to buy another stock or not, you're not using his advice correctly anyway. His advice is mainly to be used as a starting point for your own research. - ASHTONZANECKI, on 10/07/2008, -0/+4there's no fixing a crashing stock market IMO. like... if a 700 billion dollar supposed bailout couldn't work, what the hell will? I think we have to wait it out until all the stocks have hit rock bottom and everything completely clears up. THEN we should put our assets back in and start to rebuild the economy piece by piece very carefully.
Basically, let the bucket leak until there's no more water, patch it up, and then refill it. It's already been emptied half way. -
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