A Brief History Of Jim Cramer's Opinions On "Pillar Of Strength" Best Buy

Tyler Durden's picture




 

You really can't make this shit up. From the funniest person on financial comedy TV (whose most memorable TV appearance will always be roaring that Bear Stearns is fine days before its collapse), here is his "opinion" on Best Sell Buy, entirely in his own words.

November 20: Jim Cramer opines on Best Buy:

Pillars of Strength in Retail

 

The homework doesn't dovetail with the shares. That's how I felt about the way Best Buy (BBY), Home Depot (HD) and Dick's (DKS) traded in the wake of the earnings calls -- because all three were basically in all-systems-go mode for suppliers.

 

Regarding Best Buy, it looks as if the tablet is the standout. I know that Apple (AAPL) has become a hated equity, but I keep hearing good things, so I can't join the nitpicker mob. You did get a nice Chrome call-out for Google (GOOG), but that's just icing on the Google lovers' cake.

 

All three chain stores -- Home Depot, Dick's and Best Buy -- are pictures of strength, not weakness. All three stocks should be bought, not sold, on share weakness, despite whatever the "action" says about how well the companies performed. They have performed superbly against both their fields and against retail in general.

Then the next day, November 21, just in case the message was lost:

Best Buy Co. Inc. Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on November 15, 2013. The news about tablets also bodes well for Best Buy, a company that has turned around its ailing retail position to once again become one of the stronger names selling technological products to consumers. Cramer said that retail stocks were especially well-positioned at the moment, and he did not neglect to mention Best Buy near the top of his list of retail all-stars.

Fast forward to today, following a 30% collapse in the stock price in one day. From TheStreet:

It really makes you wonder what went wrong when you see a company down 30% in a single trading session, TheStreet's Jim Cramer said of Best Buy.

 

The co-portfolio manager of the Action Alerts PLUS portfolio said most analysts had been bullish on the stock, all the way into the upper $30s.

Uhm, just the analysts?

Those expectations were way off, Cramer said. The company reported sales fell 0.8% for the nine weeks ended Jan. 4, while analysts had expected growth and no real degradation in gross margins.

 

Cramer advised investors who want to buy the stock to wait until Friday because these types of violent moves tend to pan out over a two-day period.

So buy, buy, buy Best Buy at $40, but wait at $26? Gotcha.

And the piece de resistance comes from CNBC this morning:

Cramer said the electronics retailer needs a "big reset," and that analysts erred in thinking the company could compete with online shopping outlets. He said the holidays were an "Amazon quarter."

...

 

A steady stream of positive analyst notes before the busy holiday season helped set up Best Buy for its huge 30 percent drop Thursday, CNBC's Jim Cramer said.

 

"Each day one came out and then another came out," Cramer said Thursday on "Squawk on the Street." "If they had all come out at once, the stock wouldn't have been pumped to where it was. It was a serial rollout of positives."

Wait a minute. It was precisely the "steady stream of positive analyst notes" that Cramer used to pitch as the buying catalyst in Best Buy just back on November 19 and as the reason why people should not sell the stock!!!

The people who are selling [Best Buy] don't realize the power of the reiteration of [analyst] recommendations we are going to get in the next few days.

 

But... but... less than two months later it was this very reason that Cramer used as an excuse why the company sold off! It really isn't... it doesn't... it can't... it makes no...

Aghhhh #Ref!

Summarizing it all below:

 

And now we eagerly await the sequel: "Get Poor Instantly"

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Thu, 01/16/2014 - 18:39 | 4339124 lizzy36
lizzy36's picture

Get poor QUICKLY

Thu, 01/16/2014 - 18:47 | 4339150 The Gooch
The Gooch's picture

<----------It would be great to knock that motherfucker out.

<----------It would be great to knock that motherfucker out.

Thu, 01/16/2014 - 18:53 | 4339168 MillionDollarBogus_
MillionDollarBogus_'s picture

Tyler...Tyler...Tyler....the noisy ads here are bogus.......

Thu, 01/16/2014 - 18:58 | 4339180 Yardfarmer
Yardfarmer's picture

get adblocker (ABP) for god's sake!

Thu, 01/16/2014 - 19:08 | 4339209 krispkritter
krispkritter's picture

And a proxy and a Google anal-ytics killer...

Thu, 01/16/2014 - 19:19 | 4339250 Fredo Corleone
Fredo Corleone's picture

Is Cramer's latest, unusable tome, "Get Rich Carefully," on the remainder rack at Sam's Club of yet ?

Thu, 01/16/2014 - 19:32 | 4339292 kaiserhoff
kaiserhoff's picture

Cramer is a rare individual.

There aren't many of us who would look better wearing a pullover penis mask.

On the other hand, would he really look that different?

Thu, 01/16/2014 - 20:00 | 4339402 nope-1004
nope-1004's picture

Pisani is no different.  That channel is a media outlet for the lies of the current economy.  Fully 90%+ of all who are in business are in small business, which that channel doesn't relate to, and it's those people that don't give a shit about Buffet, Weins, Grimaldi, Cuban, etc....

As the US economy sinks into fascist serfdom in an attempt to keep the thing from imploding by ever increasing central planning, that channel will follow suit.

 

Thu, 01/16/2014 - 23:24 | 4339970 Cdad
Cdad's picture

As J. Cramer tries to wiggle out of the Best Buy catastrophe, he is doing the very same thing on the computer peripheral companies right now.  Just last night, he told folks to buy WDC.  WDC has been upgraded six times in the last seven trading days.

Just saying.

Fri, 01/17/2014 - 00:23 | 4340070 StychoKiller
StychoKiller's picture

Curiously, I bought two WDC 1TB hard disks ($70 each!) from Best Buy on Jan-13-2014.

I'm doing my part to keep the economy going, where is everyone else?

Fri, 01/17/2014 - 18:32 | 4342365 Keyser
Keyser's picture

Cramer is my favorite clown. All he needs is the big red nose and clown shoes. 

Fri, 01/17/2014 - 00:51 | 4340112 TheRideNeverEnds
TheRideNeverEnds's picture

As someone who has been trading WDC from the short side since it hit 65, it is trading like 100 is a given....   Been going up like 1-3% every.single.fucking.day it feels like.  I hope that stock gaps down limit on earning this week and doesn't have an uptick till 2016.

 

That said I am sure they will announce on the call that despite poor sales they plan in the next quarter to have solved world hunger, cured cancer and discovered the meaning of life so it will be up another 30% because why the fuck not, just buy everything, buy it on margin, fuck selling into strength and taking profits, don't want to miss the next 100% of upside; the ride never ends... 

Thu, 01/16/2014 - 20:24 | 4339500 Freddie
Freddie's picture

I don not favor book burning but Cramer's shit would be a good place to start.  Maybe wait til in hits the dollar store because it might help people keep warm in winter.

Thu, 01/16/2014 - 21:53 | 4339769 TheFourthStooge-ing
TheFourthStooge-ing's picture

Wait to buy Cramer's book until the dollar store bundles it with Greenspan's book and is selling them per cord.

Thu, 01/16/2014 - 19:10 | 4339214 Richard Chesler
Richard Chesler's picture

Another Obozo class charlatan.

Thu, 01/16/2014 - 19:43 | 4339329 The Shootist
The Shootist's picture

I heard he was step brothers with James Clapper.

Thu, 01/16/2014 - 19:27 | 4339220 TruthInSunshine
TruthInSunshine's picture

The best way to use Cramer the Clown's advice to make a small fortune is to start trading on his recommendations using a ginormous fortune (i.e. 147x whatever you wish to be left with at the end of the day based on his 'Winners of The New World' strategy).

Does anyone know if the former Team Cramer star "trader" Lenny "Nails" Dykstra is out of prison yet?

Thu, 01/16/2014 - 19:40 | 4339316 DollarMenu
DollarMenu's picture

Thanks Yardfarmer, you made me do it.

I was so tired of that Allstate guy playing Big Brother everywhere I go, I just went under your goad to install it.

He's gone!

Thu, 01/16/2014 - 23:16 | 4339952 TeMpTeK
TeMpTeK's picture

"get adblocker (ABP) for god's sake!"


Vote up

And if everybody gets ad blocker Zerohedge goes to paid subscriptions....Ads are what make the internet go around.. nobody will provide quality content if they cant make money from you viewing it...

 

Fri, 01/17/2014 - 00:26 | 4340077 StychoKiller
StychoKiller's picture

Just HOW would the advertiser "know" if you're using adblocker or not?

Fri, 01/17/2014 - 02:42 | 4340203 Jadr
Jadr's picture

It isn't the same zerohedge owners anyway.  If it were the original crew I wouldn't mind, but then again I don't think they would have ever have had self running video ads which are pretty much the most annoying form of internet advertisement.

Thu, 01/16/2014 - 19:00 | 4339183 Yes We Can. But...
Yes We Can. But Lets Not.'s picture

Cramer has his cake on the way to the bank, and he eats his cake when he gets there.  Every single time.  None better at it than him.

Thu, 01/16/2014 - 19:32 | 4339290 brombones
brombones's picture

I'm a representative of Noizy Ads©, and I see that you're interested in one of our products. What is your ideal billing address?

Thu, 01/16/2014 - 19:37 | 4339304 The Gooch
The Gooch's picture

33 Liberty

NY NY

Thu, 01/16/2014 - 23:33 | 4339989 MontgomeryScott
MontgomeryScott's picture

250 Greenwich Street

New York City, NY

http://wtc7.net/

 

Thu, 01/16/2014 - 22:14 | 4339816 Wait What
Wait What's picture

MDB, start here if you're not one who spends his time searching titles like "Dogorama" or some such untoward topic.

https://www.ghostery.com/

otherwise you'll have to learn abt proxies and offshore data havens to cover your tracks.

then again, by the looks of things we're all going to have to learn that stuff sooner or later, might as well learn it now.

Thu, 01/16/2014 - 19:02 | 4339186 Occident Mortal
Occident Mortal's picture

The guys is clearly off his tits every day.

The real moron is the guy who keeps paying him.

Hell, if I got paid what he does for doing what he does I wouldn't give a shit what any of you think either. He's not the fucking mug here.

He's killing it. A talentless coke addict who makes millions from talking and shouting shit every day? He died and went to heaven.

Thu, 01/16/2014 - 19:40 | 4339312 The Gooch
The Gooch's picture

He's blaring through the doors of a million Hampton Suites© and Mariott Gardens© guest rooms, lobbies and bars right now.

 

Thu, 01/16/2014 - 20:04 | 4339426 Blano
Blano's picture

Clearly he stays at a Holiday Inn Express every night.

Thu, 01/16/2014 - 20:19 | 4339484 The Gooch
The Gooch's picture

Those fuckers don't have a bar.

Thu, 01/16/2014 - 20:26 | 4339508 Freddie
Freddie's picture

The real morons are the idiots who watch Obama TV.  Are you one?

LOL!  ZH has banner ads for White Castle burgers.  ZH must  think I am in ***king NJ or something.  Fooget about it!

 

Thu, 01/16/2014 - 18:51 | 4339161 SilverIsKing
SilverIsKing's picture

At this point, I highly doubt there's anyone with a brokerage account dumb enough to follow him.

Thu, 01/16/2014 - 19:25 | 4339261 TruthInSunshine
TruthInSunshine's picture

There are only approximately 15,000 viewers of cnBSc daily, anyways - mostly bluehairs & the retarded.

Thu, 01/16/2014 - 19:33 | 4339294 Richard III
Richard III's picture

I am told that CNBC is the default channel on the television in the Rec Room at Rikers.

Thu, 01/16/2014 - 19:56 | 4339372 teolawki
teolawki's picture

I'm pretty sure that would fall under the cruel and unusual treatment clause.

Thu, 01/16/2014 - 22:06 | 4339792 Osmium
Osmium's picture

Nice Avatar.  Just hoping that is Bernanke on the receiving end. 

Thu, 01/16/2014 - 20:03 | 4339416 redux2redux
redux2redux's picture

That's cruel and unusual punishment!

Thu, 01/16/2014 - 20:26 | 4339512 rosiescenario
rosiescenario's picture

No, but he is being used by the CIA to break prisoners at Gitmo, none of whom can understand what he is saying, but are driven crazy by the volume, facials, and sponsors ads....in a recent white paper, the operatives report Cramer works 10X faster than a deep water boarding treatment.....and it is politically correct.

Thu, 01/16/2014 - 18:52 | 4339165 czardas
czardas's picture

Jim Cramer qualifies for Mystery Science Theater 3000 (economics version).  He is so bad he's good.   Or as could be said about Bernanke, do exactly opposite of what they say and you're safe.

Fri, 01/17/2014 - 01:40 | 4340155 401K of Dooom
401K of Dooom's picture

In that case, I want Tom Servo and Crow T. Robot to be giving me investment advice.  Better yet, let HAL 9000 handle my investments in da market!

Thu, 01/16/2014 - 19:18 | 4339243 Nothing but the...
Nothing but the truth.'s picture

I reckon Jim Carey has better investment advice.

Thu, 01/16/2014 - 21:49 | 4339756 jerry_theking_lawler
jerry_theking_lawler's picture

I can't stand to even watch this guy.....my note to Jim, we all know you have sold your soul to the devil so.....Fuck you, you fucking piece of shit.

Thu, 01/16/2014 - 21:50 | 4339758 jerry_theking_lawler
jerry_theking_lawler's picture

Deep down I suspected it....but just looked it up. The mother fucking Cramer is a JEW.....his secret to success.

Thu, 01/16/2014 - 18:40 | 4339129 LoneStarHog
LoneStarHog's picture

CNBS - Cramer is the epitome of the BS part

Thu, 01/16/2014 - 18:49 | 4339155 max2205
max2205's picture

And poof....it's gone...again and again

Thu, 01/16/2014 - 18:43 | 4339131 Rainman
Rainman's picture

I like the ShamWow dude a lot more.

Thu, 01/16/2014 - 19:26 | 4339270 brombones
brombones's picture

You're gonna love his nuts.

Thu, 01/16/2014 - 18:43 | 4339132 whisperin
whisperin's picture

Now if he could be just brief history.

Thu, 01/16/2014 - 18:44 | 4339135 dwayne elizando
dwayne elizando's picture

What's Jim think about treasuries for the long term? All time high, definite buy?

Thu, 01/16/2014 - 18:44 | 4339136 Godisanhftbot
Godisanhftbot's picture

 TheSTreet.con is one of the worst performing stocks in the last 20 years.

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