• Steve H. Hanke
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Company With "No Equity Value" Is Most Actively Traded Stock In The Market, Cramer Recommends You Buy It Now, "Likes Worthlessness"

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Tue, 04/13/2010 - 15:52 | 298772 buzzsaw99
buzzsaw99's picture

risk is dead

Tue, 04/13/2010 - 17:06 | 298894 Jeff Lebowski
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Mr. Cramer draws a lot of water in this town. You don't draw shit, Durden. Now we got a nice, quiet little ponzi community here, and I aim to keep it nice and quiet. So let me make something plain. I don't like you sucking around, bothering our citizens, Durden. I don't like your jerk-off name. I don't like your jerk-off face. I don't like your jerk-off behavior, and I don't like you, jerk-off. Do I make myself clear?

Tue, 04/13/2010 - 17:25 | 298923 ExistentialSkeptic
ExistentialSkeptic's picture

you forgot the /sarc tag.

But then again, was it really necessary?

Tue, 04/13/2010 - 17:42 | 298949 spekulatn
spekulatn's picture

That's fucking interesting man....

http://www.youtube.com/watch?v=zcv6fPszAZY&feature=related

 

Tue, 04/13/2010 - 20:34 | 299157 Problem Is
Problem Is's picture

"I'm sorry... I wasn't listening..."

Tue, 04/13/2010 - 17:26 | 298925 mule65
mule65's picture

Maybe, but I'm still buying Puts as insurance.

Tue, 04/13/2010 - 15:57 | 298773 hedgeless_horseman
hedgeless_horseman's picture

Banks buying their own shares: masturflation.

Tue, 04/13/2010 - 16:18 | 298820 Captain Obviousness
Captain Obviousness's picture

::standing ovation::

Tue, 04/13/2010 - 16:22 | 298828 Hephasteus
Hephasteus's picture

Oh that one definitely won the most humorous thing on the internet today award.

Tue, 04/13/2010 - 18:58 | 299048 Rainman
Rainman's picture

YES.....I would copyright that term NOW !! Then charge TD for its future use.

Tue, 04/13/2010 - 15:53 | 298774 Mongo
Mongo's picture

*blip* *blop* bzzzzrk

Tue, 04/13/2010 - 15:53 | 298775 carbonmutant
carbonmutant's picture

400% Short Squeeze

Tue, 04/13/2010 - 15:54 | 298778 Divided States ...
Divided States of America's picture

Tomorrow is another Bernie speak. We all know what is coming out of his mouth. Rates will be low indefinitely. Time to ramp up the markets at the close.

Tue, 04/13/2010 - 15:56 | 298783 Sudden Debt
Sudden Debt's picture

Whenever a company seems to be going bust... what do you do?... BUY IT!

Really, I've been watching a lot of crappy stocks when they plummet down with very good reason, and without reason they rise back up like phoenixes.

Tue, 04/13/2010 - 16:00 | 298790 GlassHammer
GlassHammer's picture

Its like reverse value investing where I find the something devoid of value and bet on that.

Maybe get some options on something totally worthless.

Tue, 04/13/2010 - 18:21 | 299010 E pluribus unum
E pluribus unum's picture

Think like Cramer"

 

If the stock is "worthless" than it can't go any lower than that. What if AMBIC hits the lottery over the weekend.

Tue, 04/13/2010 - 16:00 | 298792 lsbumblebee
lsbumblebee's picture

"Ouch. That's painful to write. But my bosses over at Goldman Sachs ordered me to do it. You see, I have no conscience. It's what they call 'sociopathic'. Go figure."

Tue, 04/13/2010 - 16:05 | 298798 Captain Obviousness
Captain Obviousness's picture

If Cramer is going to recommend retail investors put their savings in bankrupt financial companies because the stocks are gamed by computers, he damn well better shout from the rooftops when it's time to get out.  Somehow I doubt he will.

Tue, 04/13/2010 - 16:08 | 298801 Internet Tough Guy
Internet Tough Guy's picture

Jump on the bus to Crazy Cramer town, because the dot com ride was not enough.

Tue, 04/13/2010 - 16:09 | 298805 BlackBeard
BlackBeard's picture

Do you believe in magic?

Tue, 04/13/2010 - 16:12 | 298811 emsolý
emsolý's picture

such a shame the "Trade Now" hyperlinks are not active - i totally would have bought some, just to get that destined feeling of it "happening".

Tue, 04/13/2010 - 16:12 | 298813 Mitchman
Mitchman's picture

this is the best goddammed blog on the web!n  let's float the thing!

Tue, 04/13/2010 - 16:12 | 298814 fuggetaboutit
fuggetaboutit's picture

for anyone thinking the market is anything but a screaming, raging bubble of no volume positivity - go pull what this dufus wrote in 2000 and lay it side by side with the above

Tue, 04/13/2010 - 16:44 | 298866 Hugh Janus
Hugh Janus's picture

along with his "new tech" special on commodity stocks in the spring/summer of 08.

Tue, 04/13/2010 - 16:14 | 298816 Hugh Janus
Hugh Janus's picture

so he recommended it at 2.60 ish and it just closed at 1.67.  another perfectly timed call by the maestro.

Tue, 04/13/2010 - 16:17 | 298817 ZackAttack
ZackAttack's picture

Bwah! The conspiracy to keep Cramericans broke and stupid.

Gapped up to 2.95 at the open, from 2.25 close yesterday.

After hours: 1.63 -0.62 (-27.56%)

Brings back fond memories of Gasparino feverishly attempting a stick-save with the rumor-du-jour into the close, as it fell from 65 to 1 over a little more than a year. I caught it twice on the short side for a decent chunk out of the middle. But the time for these games was many months ago. Now, you would be playing against SkyNet.

 

Tue, 04/13/2010 - 16:18 | 298818 Cheeky Bastard
Cheeky Bastard's picture

I buy shiny stocks. They so purty. 

-Jim Cramer 

Tue, 04/13/2010 - 16:20 | 298824 ghostfaceinvestah
ghostfaceinvestah's picture

Any doubts now we are experiencing another stock market bubble?

 

Thanks, Bernanke, for the continued destruction of our country.

Tue, 04/13/2010 - 16:40 | 298856 Thunder44
Thunder44's picture

Everything is TBTF no risk, everything must go up.bankrupt or not.Have to restore normal.

Tue, 04/13/2010 - 16:23 | 298830 Dr Hackenbush
Dr Hackenbush's picture

once they hunt your stop, the algos just continue to shrug off all bad news. 

 

Tue, 04/13/2010 - 16:26 | 298836 Prof Gulliver
Prof Gulliver's picture

Meanwhile, INTC blew the door off earnings, so it's Dow 12K, probably before the end of the month. By the summer, we'll be halfway to Tyler's Dow 36K.

Tue, 04/13/2010 - 16:28 | 298840 godfader
godfader's picture

The sad truth is a moron like Cramer has been right for the last 4000 Down points and 1000s of anonymous bloggers have lost all the money that they made shorting in 2008 and then some in this ridiculous short squeeze.

Then again most of these bears probably aren't trading for a living, they'd rather be right than make money so I bet they don't really care if they got their head handed to them on a plate.

Tue, 04/13/2010 - 16:56 | 298880 Cheeky Bastard
Cheeky Bastard's picture

I have not lost one single USD/EUR/AUD/CAD in the timeframe that you speak of. Actually, couple of mil. landed into my bank account.

No, im not a genius.

I just DON'T play a RIGGED FUCKING GAME that has no support in reality.

Tue, 04/13/2010 - 18:21 | 299012 ghostfaceinvestah
ghostfaceinvestah's picture

I just bought oil last March when it was clear Bernanke was going to kill the dollar.

Who needs to worry about earnings and the like?  Just bet on dollar destruction.

Tue, 04/13/2010 - 16:31 | 298843 buzzsaw99
buzzsaw99's picture

You ever see a squids's eyes? He's got lifeless eyes. Black eyes. Like a doll's eyes. When he comes at ya, doesn't seem to be living... until he bites ya, and those black eyes roll over white and then... ah then you hear that terrible high-pitched screamin'. The market turns green, and despite all the buyin' and the hollerin', they all come in and they... rip you to pieces."

Tue, 04/13/2010 - 16:40 | 298857 Dr. No
Dr. No's picture

Im going to need a bigger brokerage account.

Tue, 04/13/2010 - 16:44 | 298863 buzzsaw99
buzzsaw99's picture

I'm talkin' about workin' for a livin'. I'm talkin' about sharkin'!

Tue, 04/13/2010 - 16:55 | 298878 Dr. No
Dr. No's picture

You know that was the time I was most frightened... waitin' for my turn (to get shafted by the market).

Tue, 04/13/2010 - 20:11 | 299075 Crummy
Crummy's picture

Fellows, let's be reasonable, huh? This is not the time or the place to perform some kind of a half-assed audit on a vampire squid. And I'm not going to stand here and see that thing cut open and see that little Kitco buy spill out all over the Comex.

Tue, 04/13/2010 - 22:06 | 299292 Astute Investor
Astute Investor's picture

You got city hands, Mr. Cramer.  You been countin' money all your life.....

Tue, 04/13/2010 - 16:35 | 298847 Racer
Racer's picture

And looking at the after hours markets it seems that they now move more in out of hours than in 'normal' trading!

Dax is also doing the same now too!

Tue, 04/13/2010 - 16:41 | 298859 b_thunder
b_thunder's picture

Down roughtly 45% from the time Cramers' feces were thrown on the air!

 

Tue, 04/13/2010 - 16:47 | 298874 DonnieD
DonnieD's picture

Best Investement Advice Ever: Buy a worthless equity just because "the !@#$% animal spirits have it going".

 

Tue, 04/13/2010 - 17:06 | 298889 Mercury
Mercury's picture

Man... Cramer has really gone off the deep end on this one.  I specifically remember his warning against trading the bankrupt WorldCom (less than a penny I think at the time--2002?) in a similar article on his site.  There's no there there, everyone knows the end game is zero, stay away - was essentially his (correct) assessment.  This time is different? Sure there are circumstances when something near-worthless or worthless can  temporarily be hot potatoed around for a quick buck but to recommend this to retail investors.  What a fuckhead.

It's a shame really.  Back in the mid-late 90's when he was a hedge fund manager, his new Street.com site was very cutting edge, had info you couldn't really get anywhere else and was doing pretty much what ZH is doing now in a more narrow context.

I can't imagine what Cramer's motivation is these days for doing what he does.  He just goes from bad to worse.

Let's just hope Tyler isn't hosting some Bet-The-Rent! type game show and director of the U.S. Mint in ten years.

 

Tue, 04/13/2010 - 17:06 | 298893 equity_momo
equity_momo's picture

How does this guy still have a tv show?

Amazing. Simply fking amazing.

Tue, 04/13/2010 - 17:14 | 298907 stickyfingers
stickyfingers's picture

If it's springtime can the tulip mania be far behind.

Tue, 04/13/2010 - 20:06 | 299112 hettygreen
hettygreen's picture

This Cramer story reminds me of the classic stock offering from the South Sea Bubble:

"A company for carrying on an undertaking of great advantage, but nobody to know what it is."

According to Charles MacKay this unknown man of genius, upon receiving within five hours a 2 pound deposit from 1,000 beguiled subscribers, set off the same evening for the Continent, never to be heard from again.

Tue, 04/13/2010 - 17:23 | 298921 economicmorphine
economicmorphine's picture

Cramer can't be that stupid.  He's selling into it.  No doubt in my mind.

Tue, 04/13/2010 - 18:18 | 299004 Reese Bobby
Reese Bobby's picture

I think Cramer is the black hole of stupidity...

Tue, 04/13/2010 - 18:27 | 299021 ghostfaceinvestah
ghostfaceinvestah's picture

You have to wonder.  One of his writers, Gavin Magor, knows more about that company than the regulators.  Guaranteed he knew damn well it would tank soon.

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