on CNBC there is a show called mad money hosted by Cramer.
believe 3-4 times a day, anyways I have caught a few minutes of the show a few times the last few weeks. have never watched a full show.
anyways he hits about twenty red buttons in the lightning round when callers call in.
a few concerns is that he really likes Encana ECA, I have also heard Cdn. Natural Resources and Tailsman mentioned.
in most cases it is ussually a sign of top (or close to one) when i hear Cdn. stocks mentioned on a routine basis on CNBC or other US networks.
the senior oils cdn. I own or have options on, ECA, CNQ, TLM, PCA, SU.
the main reason for this thread is that Cramer talked about the $3.5 billion paid in fines by JPM and Citicorp. he believed the fines were excessive and made some points that were wrong about the market 1997-2002
1. investors had just as much information about the stocks as the analysts.
wrong most of the investors only heard about these companies in the media (ie. CNBC) if that. most of these high powered analysts had daily weekly contact with management of these companies. and had all of the information on them.
2. Citi JPM (other large firms Merrill, Morgan) should not be punished if there analysts made a mistake...it was just an opinion.
not sure if Jim has studied much of what happened for the last 15 years. it is one thing for an analyst to make the wrong call.
let us say he or she makes a call on a drug company but the drug does not get approved, fine.
or like a gold mine but the mine after careful study is a bust. or gold instead of rising crashes.
now these items happen and in the report there should the risks mentioned.
however certain analysts sold small investors down the river so there firms could make money off of a banking relationship...ie. meeker. blodget, grubman ect. many people in the firm encouraged anaysts work with the banking team.
it was acceptable to keep issueing buy reports and hyping the stock just to make a few million more on baniking fees. they did not seem to be overly concered about their small retail shareholders.
and all the money they lost.
3. investors beware.
investors are on there own. that is true, no one cares about your money more than you do. however when an investor walks into these firms with their retirment money, they should not be put in a few high risk investments and as a result of fraud.
one last point is that he supports Martha going to jail for what she did but believe these large firms that shaped research to win banking deals is fine.
how many did Martha hurt and how many people lost their savings and the impact on the economy buy some of these firms........
just be carefull it will all happen again...it always does.
a good book on the topic is Blood on the street by Charles Gasparino. a great book, maybe one that more people including Cramer should read.
thanks
selkirk
believe 3-4 times a day, anyways I have caught a few minutes of the show a few times the last few weeks. have never watched a full show.
anyways he hits about twenty red buttons in the lightning round when callers call in.
a few concerns is that he really likes Encana ECA, I have also heard Cdn. Natural Resources and Tailsman mentioned.
in most cases it is ussually a sign of top (or close to one) when i hear Cdn. stocks mentioned on a routine basis on CNBC or other US networks.
the senior oils cdn. I own or have options on, ECA, CNQ, TLM, PCA, SU.
the main reason for this thread is that Cramer talked about the $3.5 billion paid in fines by JPM and Citicorp. he believed the fines were excessive and made some points that were wrong about the market 1997-2002
1. investors had just as much information about the stocks as the analysts.
wrong most of the investors only heard about these companies in the media (ie. CNBC) if that. most of these high powered analysts had daily weekly contact with management of these companies. and had all of the information on them.
2. Citi JPM (other large firms Merrill, Morgan) should not be punished if there analysts made a mistake...it was just an opinion.
not sure if Jim has studied much of what happened for the last 15 years. it is one thing for an analyst to make the wrong call.
let us say he or she makes a call on a drug company but the drug does not get approved, fine.
or like a gold mine but the mine after careful study is a bust. or gold instead of rising crashes.
now these items happen and in the report there should the risks mentioned.
however certain analysts sold small investors down the river so there firms could make money off of a banking relationship...ie. meeker. blodget, grubman ect. many people in the firm encouraged anaysts work with the banking team.
it was acceptable to keep issueing buy reports and hyping the stock just to make a few million more on baniking fees. they did not seem to be overly concered about their small retail shareholders.
and all the money they lost.
3. investors beware.
investors are on there own. that is true, no one cares about your money more than you do. however when an investor walks into these firms with their retirment money, they should not be put in a few high risk investments and as a result of fraud.
one last point is that he supports Martha going to jail for what she did but believe these large firms that shaped research to win banking deals is fine.
how many did Martha hurt and how many people lost their savings and the impact on the economy buy some of these firms........
just be carefull it will all happen again...it always does.
a good book on the topic is Blood on the street by Charles Gasparino. a great book, maybe one that more people including Cramer should read.
thanks
selkirk
