Cramer Says Sell Sell Sell!

writing a few books legitimizes people somehow.

It's almost unbelievable how often that guy is wrong and how he simply trades with sentiment like the rest of the lemmings. Having said that, he is a walking financial encyclopedia and is constantly put on the spot to make all his calls in a public forum. We've all been wrong with our investments at one time or another but can do so in the privacy of our PAs. Bad enough I lost money, don't need all my friends thinking I'm an idiot as well. =)

branding. He's a name.

"Bad enough I lost money, don't need all my friends thinking I'm an idiot as well."

Ditto me, but I don't have a show.

He was recommending Google and Apple at their highs, as well. Did I mention RIM, as well?

I agree. I started building positions in BAC starting two weeks ago. I will be buying more today, and if it dips more, I will buy more. I am looking for this company to crush in 5-10 years along with WFC, which I am also building positions in. The time to have gotten out of stocks was around 15 months ago, right now is the time to start building positions in companies that have been beaten down and are well positioned to be benefit from all of the activity by Fed/Treasury.
Steve, are you at all concerned that the Merrill deal will fall through?

"are you at all concerned that the Merrill deal will fall through?"

No. They preannounced because they basically had to to raise capital. Depending on who gets what of Wachovia, we're looking at 3 national banks - JPM, BAC and.... The government wants it that way because they can then regulate them and control systemic risk, since they're too big to fail.

The time to have gotten out of stocks was a year ago - agreed. I didn't, got hurt, but am rebuilding. Everything is way, way oversold right now, and whenever Cramer says to do something, I know in my heart that it's right to do the opposite.

BAC will severely dilute your shares with an additional 10bln of equity being sold. However, the Fed's programs going forward highly benefit them and will see the MER deal go through.

"Ditto me, but I don't have a show."

touche

"are you at all concerned that the Merrill deal will fall through"

also remember that arbs have probably not been very aggressive closing the "spread" in the MER/BAC deal since you can't short BAC stock. maybe that gets alleviated tomorrow when short ban is lifted?

Going forward, banks can't not make money.

Hate the double negative, but there's no other way to say it.

And the Fed is now buying unsecured commercial paper. Watch interbank interest rates fall. They're finally stepping up to the plate after a year of dawdling. They're finally figuring out exactly how serious this matter is. Now if they'll just stop worrying about nonexistent inflation when faced with collapsing asset prices, the world will be a better place.

Still, Manhattan has 50% to fall as we're behind the curve. Especially here and now, property prices are way out of whack with incomes, which have fallen precipitously because of the demise of Wall Street. And under the commercial bank model, with the Fed now bankers to the world, we're not going to see those excesses ever again.

You can't short MER, either.

O spunky, spunky! wherefore art thou spunky?
Deny thy market and refuse thy fortune;
Or, if thou wilt not, be but sworn my Merrill shares,
And I'll no longer be a homeowner.

He's hiding in the hedges.

"Ditto me, but I don't have a show."

But Steve, this board has sort of become your show. "stevejhx" also has brand recognition here.

malraux, dropping some Shakespeare - I love it (though Steve must have forgotten the meaning of "wherefore")! Let's try another:

"Here I am spunky,
Yet cannot hold this visible shape, my knave.
I made these wars for Tribeca, and (not) Queens,
Whose heart I thought I had, for they had mine,
Which whilst it was mine had annexed unto’t
A million more, now lost—she, malraux, has
Packed cards with stevejhx, and false-played my glory
Unto an enemy’s triumph.
Nay, weep not, gentle malraux. There is left us
Ourselves to end ourselves."

Agreed Cramer is an idiot, and I usually bet against him.

But I believe he was saying that specifically to anyone who will need the money in the next few years, not all investors.

That sentiment is pretty much always true. You shouldn't be putting into the market what you have short term needs on....

"though Steve must have forgotten the meaning of "wherefore""

No - just it wouldn't have been funny had I stuck to it. So if I be wicked, woe unto me, and if I be righteous, yet will I not lift up my head. I am full of confusion, therefore see thou mine affliction.

Woe is me, woe is me, woe is me.

Well done, Steve.

thx.

D-Day: War's over, man. Wormer dropped the big one.
Bluto: Over? Did you say "over"? Nothing is over until we decide it is! Was it over when the Germans bombed Pearl Harbor? Hell no!
Otter: Germans?
Boon: Forget it, he's rolling.
Bluto: And it ain't over now. 'Cause when the goin' gets tough...
Bluto: the tough get goin'! Who's with me? Let's go!
Bluto: What the fuck happened to the Delta I used to know? Where's the spirit? Where's the guts, huh? "Ooh, we're afraid to go with you Bluto, we might get in trouble." Well just kiss my ass from now on! Not me! I'm not gonna take this. Wormer, he's a dead man! Marmalard, dead! Niedermeyer...
Otter: Dead! Bluto's right. Psychotic, but absolutely right. We gotta take these bastards. Now we could do it with conventional weapons that could take years and cost millions of lives. No, I think we have to go all out. I think that this situation absolutely requires a really futile and stupid gesture be done on somebody's part.
Bluto: We're just the guys to do it.
D-Day: Let's do it.
Bluto: LET'S DO IT!