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| Dave Rathbun |
 Posted: Tue Jan 10, 2006 10:09 am Post subject: "Official" Cramer tracker |
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CFO
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http://madmoney.thestreet.com/index.cfm
I found that earlier today while clicking through some links. Looks like they track a stock from the time Cramer mentions it on the show and list how they do. Don't know if anyone else knew about it, or if this is a duplicate post I apologize. |
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| stockmarkettips |
| Posted: Tue Jan 10, 2006 1:26 pm Post subject: |
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Investing Manager
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| Dave Rathbun |
| Posted: Tue Jan 10, 2006 2:42 pm Post subject: |
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CFO
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I personally don't subscribe to Cramer... not because he's "Cramer" but because I don't subscribe to any of the talking heads.  He's paid to put on a show. The fact that stock picks are included is incidental in my opinion. I didn't spend a lot of time looking at his picks and his performance because - frankly - I don't think it's worth my time. Please note that I didn't say he's worthless  just that I don't want to spend my time becoming a Cramer disciple.
Anyway, hope the link proves to be useful and/or interesting. Essentially since it looks like we don't need to actually track his stock picks if someone else is doing that already. Now all someone needs to do, I guess, is verify that the tracking people aren't missing anything. |
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| frusnak |
| Posted: Tue Jan 10, 2006 3:45 pm Post subject: |
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CFO
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I have checked this site a few times and it seems to be accurate.
Cramer has motivated me to be more involved with investing, to look at stocks in a slightly different light and helped me break out of some bad habits that I was in.  |
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| stockmarkettips |
| Posted: Tue Jan 10, 2006 4:24 pm Post subject: |
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Investing Manager
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| frusnak wrote: | I have checked this site a few times and it seems to be accurate.
Cramer has motivated me to be more involved with investing, to look at stocks in a slightly different light and helped me break out of some bad habits that I was in. |
Well put. He is getting people involved with and thinking about their finances instead of relying on their pension. He also teaches general investing stategies that newbies make and need to break out of. I had some bad habits that he has spoke about as well. |
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| geb9696 |
| Posted: Tue Jan 10, 2006 5:26 pm Post subject: |
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Investing VP
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| Do you guys mind to elaborate on the bad habits? I am curious if I have any of these. |
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| frusnak |
| Posted: Wed Jan 11, 2006 12:24 am Post subject: |
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CFO
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1. not doing enough research
2. holding a stock too long either when it's going up or down
3. Timing the buy in wrong...at or near the top price
4. too many stocks in the same business
Since I have changed tatics there has been a big improvement in the returns. |
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| Dave Rathbun |
| Posted: Wed Jan 11, 2006 4:38 am Post subject: |
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CFO
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One of my bad habits was related to #1, not doing enough research. I have implemented a "manditory two-week waiting period" before buying a stock now. I may miss out on some opportunities, but I can say that an overwhelming percentage of my "bad moves" were related to buying a stock too quickly after hearing about it for the first time.
So now when I hear about company X, and it sounds really awesome, no matter how tempting the opportunity is I do not allow myself to buy it until two weeks have passed. In many cases that has saved me, and in a few it has cost. But the savings far out-weigh the costs. It's a good rule for me. |
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| Benjamin |
| Posted: Wed Jan 11, 2006 6:01 am Post subject: |
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Administrator
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| Dave Rathbun wrote: | | One of my bad habits was related to #1, not doing enough research. I have implemented a "manditory two-week waiting period" before buying a stock now. I may miss out on some opportunities, but I can say that an overwhelming percentage of my "bad moves" were related to buying a stock too quickly after hearing about it for the first time. |
Very good post. Never jump into anything just based on what you've "heard". Take some time and research. The internet is an amazing tool for investors. |
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| Dave Rathbun |
| Posted: Wed Jan 11, 2006 6:11 am Post subject: |
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CFO
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It's not just research, it's thinking about the company.
Here's a case in point. Years ago there was an awesome communications program called ProComm. It started out as shareware and went mainstream. It was awesome, even had an incredible scripting language. There was an application written in ProComm that would allow you to connect to Compuserv and download a bunch of news postings for you to read / respond to offline. That way you avoided tieing up your phone line and modem, and running up lots of minutes (connection charges).
Now how many of you have I lost by talking about modems?  That's an important part of the story.
You see, ProComm was privately held for many years. I loved the product, and would have happily invested in it, but it was not available. Fast forward a few years, and I see that Quarterdeck Software (at the time a publicly traded company) had just acquired privately held ProComm. Wow! Here was my opportunity. I turned around and bought several hundred shares of Quarterdeck.
A month later the stock had been cut in half. Woo hoo, an opportunity to get more shares! So I got several hundred more.
To get to the point, I ultimately lost 3/4 of my investment. Why? Because ProComm was yesterday's news. Nobody used Compuserv any more. Heck, some people (those early adopters I talk about in another topic) were not even using modems anymore. And the other products from Quarterdeck were tied to DOS, not Windows. In short, I was buying a product that I knew and loved, and if I had thought about it, that I hadn't used in months. That should have been a good signal.
I lost several thousand dollars on that particular transaction. At least it has value as an educational story.  |
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| Im Not Warren Buffett |
| Posted: Wed Jan 11, 2006 11:00 am Post subject: |
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CFO
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| frusnak wrote: | 3. Timing the buy in wrong...at or near the top price
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My main objection to Cramer is the whole market-timing idea he pushes on people. I think he has a reputation for being able to do this because he tells you to get in, everyone buys, it goes up in after hours, he looks like a genius, etc.
You cannot time the markets. If he put more substance and less showmanship, maybe he would tell people that 25% after hours leaps are irration and have probably quickly overvalued the stock. |
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