“My biggest problem with Cramer, is … every single day he changes his
mind. Whatever stock is up that day, he likes. Whatever one is down
that day, he dislikes ... he’s never wrong,”
Payne said Thursday on
FBN’s Varney & Co. On Wednesday, the NY Times’ DealBook reported that investment manager J. Carlo Cannell sent TheStreet.com (TST) a letter this week that “brimmed with invective for the media company’s most familiar face.”
“You are 59. When you lie upon your deathbed, how will you reflect
upon your legacy? You will have done well, but how has the common
shareholder done?,” the activist shareholder wrote directly to Cramer in
CW8888: Same to be said to our "Gurus" here.
You will have done well, but how has your followers or disciples done?,”
Payne said when it comes to smart investing, volatility is a common denominator, and keeping a longer-term vision is critical.
“The bigger issue is confusing guidance where one day everyone should
sell everything because of Ebola, but magically be long when the market
is at an all-time high a month later. I know the pressure of both and
it’s easy to let the tail wag the dog,” Payne said.
Payne said Cramer’s strategies are too focused on following the
day-to-day trends, as opposed to seeing them before they explode.
“I just feel like the man has crumbled under the pressure. And,
unfortunately…I don’t see how anyone who watches him on TV can make
money,” Payne said.
“There are enough day traders on television giving advice to people looking to build long-term wealth for the future.”
Last updated : 14 Sep 2019
I am 63 yrs old uncle living in HDB heartland who has achieved financial independence @ 56 and finally retired @ 60 from full-time job as employee on 1 Oct 2016.
Single household income since 1995 with three children.
Currently, two sons and one daughter are working.
I have been doing 20 years of long-term investing and short-term trading in Singapore stock market only since Jan 2000 so I am that so-called Panda or Koala in the investment world.
I am currently executing my Three Taps solution model to maintain sustainable retirement income for life till 2041 @ 85 yrs old.
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