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Administrator
Group: Administrators
Last Login: 11/14/2008 6:21 PM
Posts: 275,
Visits: 703
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I remember when the internet stocks crashed in 1999 and Jim Cramer ran a mutual fund that lost millions because he kept on buy stocks on the way down. His share holders of that run road down with him losing all money hand over fist.
Recently he recommended that people keep their money in Bear Sterns. Even if you do not follow the stock market you probably heard that Bear Sterns went from $80 a share to $2.00 recently. Now JP Morgan Chase is going to buy the company for "pennies" $2.00 a share.
Well Jim Cramer tells a caller (before the crash) of the stock to keep their money in Bear Sterns. His recent stop picks for callers over the last few weeks of this post have been losers, some more that 20%.
This guy has written book after best selling book on stock trading, has a show on MSNBC, part owner of TheStreet and RealMoney.com, and makes millions. This guy does not even need to try to make money in stocks but he sure can lose it for the people that take his advice.
Click Here to see his comments regarding Bear Sterns on You Tube and what he recommended to a caller on Mad Money Lightening Round.
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Elite Member
Group: Moderators
Last Login: 8/25/2008 7:47 AM
Posts: 465,
Visits: 268
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| Grins MAD money is what I find in the washing maching from someone elses pockets other than that No spare change for stocks I wish I did it would be fun for me to dabble in but it would be just that a dabble...
Located In Rockford Michigan
Hand fed baby Lovebirds and cockatiels
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Administrator
Group: Administrators
Last Login: 11/14/2008 6:21 PM
Posts: 275,
Visits: 703
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| This is one of those "injustices" we see around us. A guy making millions a year, recommends things to people, they take the advice and lose. I never did anything on this guys recommendation, plus I remember the bad news about him in 1999. People forget and so does the networks.
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Forum Member
Group: Forum Members
Last Login: 9/23/2008 4:53 AM
Posts: 14,
Visits: 42
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| This is really sad. I know there are a lot of people with money who continue to look for ways to help others and make the best use possible with the money they have and still manage to live good lives themselves. However, there are those like this guy you are referring to Patrick ... I have not heard of him, but, I wish people like him could look around and see all of the hurting human beings - families, all around them everyday! Families who are striving in a day-to-day existence ... parents not being able to know if they can get to their job, because they need car repairs, or maybe don't even know if they are going to have a job, because the company is threatening to leave the state! Or, the mother trying to raise 2 or 3 or more babies, on her own, because she had an abusive husband who put her in the hospital one to many times and she got smart and left him before he killed her or started on the kids! Or a Grandmother raising her grandkid(s), because the parent(s) are too immature or are on drugs and in no way concerned about their children and she doesn't know how she is going to make it until they are grown ... Too bad these men like him don't see how much good they could do if they just weren't so greedy! I ask for help for people in my group who are struggling so ... one gal who is cleaning horse stalls for $25.00 a day, just so she can keep a roof over hers and her babies heads and still stay out of site of her abusive husband who is a government official ... I SO wish I could touch the heart strings of someone like him! Someone who could do some REAL GOOD!  Unfortunately, the ones who end up helping, usually are the ones who are struggling themselves ... So, I was thinking, since I myself have thought more than once, about maybe investing in some stocks, (of course, I would have to go with the cheap ones) , he would be the type of person I would fall into a trap with and lose my money. Lord knows I did it too many times on Internet Schemes! Well, I was one of those Grandmothers, raising a Granddaughter, who is now one of those Mothers, fighting to get her son back ... I think there is enough hardship in this world without people like that adding to it! I just wonder why so many people can't see through people like him ... It is a good thing there are people like you Patrick who ARE on the ball and are willing to put people wise, at least those you can reach who will listen! Thank you! 
We can create a better world, one word, one smile, one step at a time ~ Make friends, not war!
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