Charles Payne: Cramer’s Never Wrong, and That’s The Problem!

[tmonster]

Charles Payne: Cramer’s Never Wrong, and That’s The Problem!
Published December 04, 2014
FOXBusiness
When it comes to long-term investing strategies, TheStreet.com's Jim Cramer is hard – and potentially hazardous -- to follow, according to FOX Business Network’s Charles Payne.

“My biggest problem with Cramer, is … every single day he changes his mind. Whatever stock is up that day, he likes. Whatever one is down that day, he dislikes ... he’s never wrong,” Payne said Thursday on FBN’s Varney & Co. On Wednesday, the NY Times’ DealBook reported that investment manager J. Carlo Cannell sent TheStreet.com (TST) a letter this week that “brimmed with invective for the media company’s most familiar face.”

“You are 59. When you lie upon your deathbed, how will you reflect upon your legacy? You will have done well, but how has the common shareholder done?,” the activist shareholder wrote directly to Cramer in the letter.

Payne said when it comes to smart investing, volatility is a common denominator, and keeping a longer-term vision is critical.

“The bigger issue is confusing guidance where one day everyone should sell everything because of Ebola, but magically be long when the market is at an all-time high a month later. I know the pressure of both and it’s easy to let the tail wag the dog,” Payne said.

Payne said Cramer’s strategies are too focused on following the day-to-day trends, as opposed to seeing them before they explode.

“I just feel like the man has crumbled under the pressure. And, unfortunately…I don’t see how anyone who watches him on TV can make money,” Payne said.

“There are enough day traders on television giving advice to people looking to build long-term wealth for the future.”

 

[Domingo Halliburton]

yeah the format of the show is kind of antithetical to long term investing. If you're a beginner you should probably look what's in his trust and buy some of those.

People clown him on wall street but if you're new to it he's not bad. Like the article says though he has to have something to talk about everyday so he has to constantly hype something and when he has CEOs on they make it sound like it's the greatest company in the world.

 

[Futuristic Eskimo]

That segment he has when people call in and ask for tips is ridiculous. He cannot possibly form a meaningful investment recommendation for every fukking company that is publicly traded. What kind of an a$$hole would bet money on any call he makes?

 

[tmonster]

yeah the format of the show is kind of antithetical to long term investing. If you're a beginner you should probably look what's in his trust and buy some of those.

People clown him on wall street but if you're new to it he's not bad. Like the article says though he has to have something to talk about everyday so he has to constantly hype something and when he has CEOs on they make it sound like it's the greatest company in the world.

The market is too big for that excuse

 

[NZA]

The market is too big for that excuse

some long form, investigational and educational reporting to supplement his rapid fire calls to sell or buy would be good, but i doubt they give the man a budget to do more than what he's doing. he's probably getting about as much money as suze orman.

 

[88m3]

I'm surprised he still has a show but I guess he's more dynamic than any of the other skeletons and tna they've dragged out.