Today the market (the whole market... more or less) took another beating at the hands of the DREDED Subprime lenders. The Dow was down a bit at mid day, but the mortgage delinquencies number, that was reported at noon ET, was higher than expected, and the market has been in a selling off since. At the close, the Dow had dropped over 240 points for the day.
Today on Jim Cramer's Mad Money, in a segment called Subprime Strikes Again Cramer reminds us that one sector does not make an entire market, and while the market took a hit today we as "home gamers" can take the opportunity to pick up some great stocks at bargain prices
...don’t damn the whole market. This is a subprime problem only. The Street is wrong to be so indiscriminate in its selling, but that’s how the game is played... Bottom line, every sector got trashed today, and that’s just plain wrong. You’ve got a chance to pick up great merchandise at low prices. -Jim CramerBottom line: The subprime market will continue to be a train reck for the foreseeable future, but there are bargains to be found in the other sectors and the market WILL recover.
3/02/2007 - VICE vs. NICE
In the closing segment of Jim Cramer’s Mad Money this Friday, Cramer sais that when it comes to stocks "Nice guys finish last". To illustrate this point Cramer reviewed the two funds; the Socially Responsible Stock Fund, and the Vice Stock Fund.
"You can take your stocks from evil companies and invest them in good causes, but you can't do anything with your non-profits from companies with good-guy behavior" - Jim Cramer
Socially Responsible Stock Fund:
Starbucks Corporation SBUX 29.88 -0.51 (-1.68%) 22.44B
General Mills, Inc. GIS 55.50 -0.62 (-1.10%) 19.16B
NIKE, Inc. NKE 103.86 -1.43 (-1.36%) 26.17B
Advanced Micro Devices, Inc. AMD 14.18 -0.61 (-4.12%) 7.78B
Motorola, Inc. MOT 18.64 -0.19 (-1.01%) 45.06B
The Timberland Company TBL 26.51 -0.35 (-1.30%) 1.65B
Intel Corporation INTC 19.22 -0.37 (-1.89%) 110.84B
Agilent Technologies Inc. A 30.72 -0.72 (-2.29%) 12.44B
International Business Machines Corp. IBM 90.90 -1.37 (-1.48%) 136.85B
Green Mountain Coffee Roasters Inc. GMCR 56.05 +0.08 (0.14%) 432.73M
Vice Stock Fund:
Altria Group, Inc. MO 83.48 -0.86 (-1.02%) 174.96B
Diageo plc (ADR) DEO 77.01 -0.99 (-1.27%) 52.18B
British American Tobacco (ADR) BTI 60.80 -0.85 (-1.38%) 62.70B
Reynolds American, Inc. RAI 59.66 -0.73 (-1.21%) 17.64B
Imperial Tobacco Group PLC (ADR) ITY 81.04 -0.81 (-0.99%) 27.45B
Las Vegas Sands Corp. LVS 84.41 -3.50 (-3.98%) 29.91B
MGM MIRAGE MGM 69.16 -2.52 (-3.52%) 19.64B
Wynn Resorts, Limited WYNN 93.63 -3.40 (-3.50%) 9.51B
International Game Technology IGT 40.45 -0.51 (-1.25%) 13.68B
Constellation Brands, Inc. STZ 19.49 -0.57 (-2.84%) 4.57B
over the last year the Socially Responsible Stock Fund fell by 4%, while the Vice Stock Fund increased by 30%. Wow lets hear it for addiction!
On tonight's MAD MONEY on CNBC, Jim Cramer changed his position on Google (GOOG) calling it a don't buy. Instead Cramer recomended 3 other Internet stock to replace Google.
Cramers #3 Internet stock to replace GOOG is Yahoo! (YHOO).
Cramers #2 Internet Stock to replace GOOG is IAC/Interactive (IACI).
Cramer's #1 Internet stock out there to replace your GOOG is eBay (EBAY). Cramer believes that EBAY is the best Internet stock play now. He sais that EBAY isn't being held back by decelerating revenue growth like GOOG. He defended his position by stating that he thinks EAY has a large loyal customer base, public mindshare, great culture coverage, and that he thinks the new search feature is going to pay off. He also said that Skype is doing better than anyone expected, and that PayPal is potentially worth the current value of the rest company. Cramer even mentioned that PayPal is beating Google in payments space.
James J. "Jim" Cramer (b. February 10, 1954, Wyndmoor, Pennsylvania) is a television personality, former hedge fund manager, and author.
He is currently CNBC's Mad Money host, director of TheStreet.com and hosted the radio show Real Money with Jim Cramer, which was syndicated by Westwood One/CBS Radio
Jim Cramer grew up in the town of Wyndmoor, Pennsylvania, outside Philadelphia. He went to Springfield Township High School in Montgomery County. He learned the value of a dollar by selling ice cream at Veterans Stadium during Philadelphia Phillies games.
Cramer graduated magna cum laude from Harvard College in 1977 where he was an editor and the President of the Harvard Crimson. After college, he worked as a journalist at the Tallahassee Democrat and later the Los Angeles Herald Examiner. He went back to school to get a Juris Doctor degree from Harvard Law School and, after graduating in 1984, went to work in Goldman Sachs' Sales & Trading department.
In 1987, he started his own hedge fund company, Cramer & Berkowitz. (now Berkowitz Co.,) working out of the offices of hedge fund pioneer Michael Steinhardt's Steinhardt, Fine, Berkowitz, Co. It was to be the beginning of a career on Wall Street. After the tech bubble burst, Cramer retired from the hedge fund business, turning the company over to his long-time partner, Jeff Berkowitz.
He co-founded TheStreet.com and is the Markets Commentator and Advisor to the CEO, Thomas Clarke, Jr., and went on to work at CNBC, where he was a host on America Now and Kudlow & Cramer with Lawrence Kudlow. He now has his own television show focused on stocks, Mad Money with Jim Cramer.
He exhibits his knowledge of equity securities during the Lightning Round segment on Mad Money where he rapidly delivers brief analyses of stocks suggested by callers. One of the popular catchphrases on Mad Money is "Booyah," which seems to have taken the form of a greeting as well as an enthusiastic celebration. Also popular is his ritual of throwing his chair across the studio before the Lightning Round, as well as throwing his book -- Jim Cramer's Real Money--Sane Investing in an Insane World or any of his other works -- whenever a caller mentions it on air. Thanks to his energetic rhetoric, his analysis of stocks, and his off-the-wall antics, Mad Money has become CNBC's most popular show.
In 1988, Cramer married Karen Backfisch-Olufsen, who was a professional trader who stopped trading full-time after the birth of their first child. According to the January 27, 2006 episode of High Net Worth on CNBC, Jim Cramer has a net worth of over US$100 million.
Some have taken to calling Cramer "madbull" because of his TV show Mad Money and his now well-known line "Remember, there is always a bull market somewhere." The nickname could have resulted from his highly energetic style and intensity. Some would say that the nickname resulted from Cramer's hot temper.
Cramer also hosted a radio show, "Jim Cramer's Real Money," in a similar but slightly more laid-back style to Mad Money TV show. Cramer's final radio show was December 1, 2006.
Despite Cramer's lofty claims for his hedge fund's returns, there has never been any independent audit of those returns.
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