Comments on: Revisiting Jim Cramer’s 2007 Prediction for Seattle Real Estate

By: Steve

Steve — Sat, 20 Jun 2009 23:24:44 +0000

I used to be a big fan of Krammer and recently kinda went luke warm on the guy but this week finished my viewing every day. His jumping around saying go buy because the housing bottom is here just made me think "Well the guy is just a shill after all"

Reply - Quote

By: Mike2

Mike2 — Sat, 20 Jun 2009 15:22:18 +0000

Montgomery County Maryland hasn't fared that well either. The nicer / close in areas - Chevy Chase, Bethesda and Potomac are still strong. But there are tons of homes 50% off peak in the outlying/low end areas like Montgomery Village, Germantown, Gaithersburg, Rockville, North Kensington and even Silver Spring (partly inside the beltway).This in an area with an unemployment rate that is half the national average.

Reply - Quote

By: The Dude Abides

The Dude Abides — Fri, 19 Jun 2009 00:59:46 +0000

I watch Cramer nearly every day. You guys are too hard on him. He actually has a good grasp of Wall Street and has been a good commentator on the folly of FAS/FAZ, the machinations of hedgies, and the catastrophic consequences of FASB 157. That said...he is a terrible individual stock picker, changes stances so much as to be dizzying, etc. And, yes, I am the guy who has a hard copy of 'Ten Winners of the New World' ... possibly the worst investment advice ever, and I mean ever, given.

Reply - Quote

By: Teacher_Greg

Teacher_Greg — Thu, 18 Jun 2009 13:48:22 +0000

Long time reader, sometimes poster, patient real estate shopper, former condo owner (sold Oct '06). Now that I have the bio out of the way, I was wondering if you guys could do a post/some analysis of the next wave of mortgage resets. Is this going to be another body blow to the economy? Is this going to be another "if only we saw it coming" style catastrophe coming to a nation near you in Spring of 2010? Or is it more like kicking a guy while he is down and while it certainly won't help things, it will not have the impact that the first collapse -- credit freeze -- etc etc did?I mean Kramer is now calling a bottom in housing, will he look like (an even bigger) a$$ come next summer?

Reply - Quote

By: Kary L. Krismer

Kary L. Krismer — Thu, 18 Jun 2009 04:22:48 +0000

RE: WestSideBilly @ 8 - Most the people who watch CNBC believe CNBC (unless they're looking for contra-indicators).Most the people who watch Fox News believe Fox News. Most the people who watch the NBC 24 hour news channel, believe it.

Reply - WestSideBilly @ 8<\/a> - Most the people who watch CNBC believe CNBC (unless they\'re looking for contra-indicators).\r\n\r\nMost the people who watch Fox News believe Fox News.\r\nMost the people who watch the NBC 24 hour news channel, believe it.',''); return false;">Quote

By: Joel

Joel — Thu, 18 Jun 2009 03:49:32 +0000

RE: Scotsman @ 9 - They're free duh! Anything the government provides is free!

Reply - Scotsman @ 9<\/a> - They\'re free duh! Anything the government provides is free!',''); return false;">Quote

By: Scotsman

Scotsman — Thu, 18 Jun 2009 00:36:59 +0000

RE: Herman @ 7 –

“I would buy a Ballard poo-box craftsman for a billion dollars. At that APR I’d only have to pay back nine hundred million or so over the life of the loan.”

Sure, it sounds like a winning deal, but the taxes are $300 million. Where do you think those subsidies come from? ;-)

Reply – Herman @ 7<\/a> - \r\n\r\n\"I would buy a Ballard poo-box craftsman for a billion dollars. At that APR Iâ��d only have to pay back nine hundred million or so over the life of the loan.\"\r\n\r\nSure, it sounds like a winning deal, but the taxes are $300 million. Where do you think those subsidies come from? ;-)',''); return false;">Quote

By: WestSideBilly

WestSideBilly — Wed, 17 Jun 2009 22:44:03 +0000

Not that anyone really thought that Jim Cramer had any credibility (anymore/ever) anyway, but it’s certainly entertaining to revisit proclamations like this once in a while.

Tim, while we (bubbleheads) may not place an ounce of credibility on his word, other people do. I’ve seen several stocks shoot up 5-10% in a single day after Cramer recommended them as a strong buy, contrary to the rest of the sector and/or general market. It doesn’t make sense to me; apparently people haven’t seen the analysis of Cramer’s picks over the years.

Reply – Quote

By: Herman

Herman — Wed, 17 Jun 2009 22:34:25 +0000

RE: softwarengineer @ 3 - Why did Cramer say 3.5%? Is it just an arbitrarily low, subsidized figure? Why not 2.5% Or less?I have an idea to revive housing. Government backed -1.5% interest loans. And a free latte. The more you borrow, the more the bank pays you for the next 30 years. That would really get the pricing rising again.I would buy a Ballard poo-box craftsman for a billion dollars. At that APR I'd only have to pay back nine hundred million or so over the life of the loan.

Reply - softwarengineer @ 3<\/a> - Why did Cramer say 3.5%? Is it just an arbitrarily low, subsidized figure? Why not 2.5% Or less?\r\n\r\nI have an idea to revive housing. Government backed -1.5% interest loans. And a free latte. The more you borrow, the more the bank pays you for the next 30 years. That would really get the pricing rising again.\r\n\r\nI would buy a Ballard poo-box craftsman for a billion dollars. At that APR I\'d only have to pay back nine hundred million or so over the life of the loan.',''); return false;">Quote

By: Kary L. Krismer

Kary L. Krismer — Wed, 17 Jun 2009 22:27:08 +0000

RE: anony @ 5 - Agreed. I was referring to the three leading up, in which the first was more about CNBC and Rick Sanatori (sp?).Cramer probably really did CNBC a lot of harm getting involved in that. It was even referenced in a Jeopardy question (answer) the other day.

Reply - anony @ 5<\/a> - Agreed. I was referring to the three leading up, in which the first was more about CNBC and Rick Sanatori (sp?).\r\n\r\nCramer probably really did CNBC a lot of harm getting involved in that. It was even referenced in a Jeopardy question (answer) the other day.',''); return false;">Quote

By: anony

anony — Wed, 17 Jun 2009 22:20:49 +0000

The Cramer interview clips aren't nearly as funny as the Daily Shows leading up to it.

Reply - Quote

By: Kary L. Krismer

Kary L. Krismer — Wed, 17 Jun 2009 22:11:28 +0000

I think Cramer's call then resulted in one of my first posts at RCG. My response was his prediction caused me great concern about our market. Turns out the concern was warranted. Cramer is someone you use as a contra-indicator.BTW, there are three Daily Show clips on the feud between them. About the best 15 minutes of TV ever.

Reply - Quote

By: softwarengineer

softwarengineer — Wed, 17 Jun 2009 22:08:56 +0000

I THINK SCOTSMAN AND “THE TIM” SHOULD BE FINANCIAL ADVISORS: THEY MISSED THEIR CALLING

The two of them seem to be batting at least 750; while Cramer sounds like a 100 batter at best.

Did you bloggers see Cramer and the FDIC chairwomen on a CNN townhall meeting a couple months ago? I couldn’t tell which of them I distrusted more….LOL

Cramer tells the audience the way to revive housing is simply reduce fixed 30 yr interest rates to 3.5% and the brainless audience loudly clapped their hands like trained seals [maybe the audience was paid to be there?]. The FDIC chairwomen smiled and nodded her head “yes”….like the whole Mad circus act was rehearsed before hand.

Yes, the way out of the current bubble bursting is try to make a new growth bubble even worse.

Hey Scotsman, you mentioned 3.5% fixed mortgage too…..how the Hades to you pull that rabbit from an already approximate 30 YR 4.6% “Treasury Bond Hat” without stimulus debt supplementing the minimum 5.5-6.0% 30 yr fixed mortgage interest it realistically takes for the bank to make a reasonable profit?

See my 6/2009 proof:

http://www.treas.gov/offices/domestic-finance/debt-management/interest-rate/yield.html

Reply – Quote

By: Scotsman

Scotsman — Wed, 17 Jun 2009 21:46:06 +0000

BooYah!! He's... MAD!!I like the site where a monkey throwing darts at stock picks has a better net return. Double BooYah.. with cowbell!

Reply - Quote

By: anony

anony — Wed, 17 Jun 2009 21:00:40 +0000

Calculated Risk has been ripping into him too.
http://www.calculatedriskblog.com/2009/06/cramer-gets-confused-on-housing.html

Also can’t forget John Stewart, just for laughs.
http://www.thedailyshow.com/video/index.jhtml?videoId=220534&title=intro-brawl-street-get-ready-to

He sure gets a lot of attention.

Reply – Quote