Posted on 10/27/2022 1:09:39 PM PDT by montag813
by Jim Clayborn | RNN
META-Facebook shares were down more than 24% Thursday on a weak Q4 forecast and earnings collapse.
“Meta Platforms Inc. shareholders are paying dearly for its spending on the metaverse: The Facebook parent’s market value has collapsed by a whopping $677 billion this year, forcing it out from the ranks of the world’s 20 largest companies.” Bloomberg News reported Thursday morning.
Mark Zuckerberg’s fortune took a huge hit.
“Mark Zuckerberg’s fortune plunged by $11 billion after his Meta Platforms Inc. reported a second-straight quarter of disappointing earnings, bringing his total wealth loss to more than $100 billion in just 13 months.” Bloomberg News reported.
CNBC’s Jim Cramer recommended META stock right before it collapsed.
Cramer held back crocodile tears as he apologized for leading people off a cliff by recommending META stock.
VIDEO:
This isn’t the first time Cramer led investors off a cliff.
(Excerpt) Read more at rightnewsnow.org ...
I’m smarter than Cramer on stocks.
I new from day 1 that thing was a total stinker.
Its called Max Headroom from thet 80s.
Whole concept is stupid.
The Inverse-Cramer ETF has got to be making a killing.
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If that’s not actually a thing, it should be.
“5 year old Chevy”
My vehicles are older than that. And paid for.
One should consider placing your investments into index funds spanning the asset classes and ignore fools that try to time the market. Invest no more than 5-10% in individual stocks.
One should consider placing your investments into index funds spanning the asset classes and ignore fools that try to time the market. Invest no more than 5-10% in individual stocks.
It’s simple. Do the opposite of Cramer.
He bought into the “metaverse” - too funny.
You can add Paul Krugman to that “Monkey with a dart” list.
He’s a brokerage/big bank pimp. Their ads keep him there so they can take positions opposite of the morons that follow his advice. That about sums up the majority of market news & interviews. People have other motives than giving you free advice.
I’ve made a lot of money by doing the opposite of Kramer’s predictions. The surer he is the more I go in/out.
Cramer cried over Elliot Spitzer too.
Ain’t that the truth. He was bashing oil a year ago and touting Tesla. Next day I bought Exxon. Cha Ching!
I arrived early for my monthly bridge playing session.
The host was watching Jim Cramer. His wife asked me if I watched Cramer, and I said no. He should be shunned unless you did the opposite of his recommendations.
The host was still perturbed with me, 3 hours later when our bridge playing session was over.
I just sent this to our friends wife.
She printed it out for her husband to read and mope over.
True. You would think he was LOSING money for the network, being that he’s always wrong.
The guys is a fraud and always has been a fraud since his boiler room days in his youth. The fact he has a show on Bloomberg tells you the quality of Bloomberg TV.
I tend to agree with you, it is probably mostly random. But a look at the outliers may tell the tale. He is paid to be on TV and cover his opinion of the big stock market stories. So when he is wrong he is spectacularly and dramatically wrong. It is also much easier for a stock to drop 20% than to jump 20%. You would need inside information to get in on a stock a day before it jumped 20%. You just have to miss earnings a small bit for it to drop 20%.
This doesn’t factor whether Cramer is taking money or trading favors to tout a particular position. It doesn’t have to be obviously corrupt either, for example maybe he has a friend who has a massive short position and that friend whispers something in his ear and Cramer then poo-poo’s the stock citing some “authority”. It is the “news business” after all they get their information from “sources” who aren’t altruistic.
Krugman, unlike Cramer, is always wrong on his economic prognostications. You would think he never took economics 101. I would not be surprised if he advised this administration to sell their Build Back Better spendfest as the Inflation Reduction Act. So, unlike chimp Cramer, Krugman has a value to me in that I can be comfortable taking positions in the stock and interest rate markets in the opposite direction of his predictions.
Yup. He did his job by helping big Wall Street money safely offload their shares to the unexpecting public.
Always do the opposite of whatever Cramer says.
He touted the horrid jabs, too.
No, thanks, Cramer.
It’s called front-running.
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