I watched Ben Bernanke's interview on 60 Minutes last night. I thought he did a pretty good job overall. I'm not going to comment much more on that though. I was more amused by the reaction to it.
I flipped on CNBC this morning. They thought he did well too. They also told me to make no mistake though. Bernanke's talk was intended for the general population and not the typical CNBC audience.
I nearly lost it in a fit of hysterical laughter. Seriously!
They sure got that right. Ben Bernanke talked to the interviewer in a calm and relatively relaxed environment about the serious issues our country is facing right now. There was no screaming. There was no array of sound making devices for him to push every time he made a point ("Mad Money"). The were no "Boo-yahs!!!" There was no lightning round. And lastly, from what I could see there was very little crappy advice, lol.
January 30, 2008
Starting 46 seconds in...
Cramer: Let's start with Nicole in California. Nicole!
Nicole: ...Boo-yah to you Jim!
Cramer: Excellent, excellent boo-yah, right there....
Nicole: Thanks Jim. Thanks for taking my call. Thanks for the book. Thanks for the show. Love everything about you.
Cramer: Thank you. Wow, really? We're out there September 7th at USC if you want to check out the merchandise.
Nicole: All right.
Cramer: I mean, you know, like Real Money, the books.
Nicole: *giggle*
Cramer: All right. Go ahead.
Nicole: Is Caterpillar still going to 120?
Cramer: Listen to me! You know what? Chastised by all my bearish friends...
[waves stuffed bears at us]
...this weekend while I was sipping on some real cheap vino because I can't even afford Scotch any more I went over line by line the Caterpillar quarter, the Caterpillar press release, and the Caterpillar conference call and you know what? It was really a pretty good quarter and I wish I hadn't talked about it so I could have bought more for... I URGE you to buy that. I see a big upside surprise. I'd pull the trigger.... Caterpillar's DONE going down!
[points finger at us]
2 Year Chart of Caterpillar
Cramer: How about Joanne in Arizona? Joanne!
Joanne: Hey Jimmy! A big hot and steamy boo-boo-boo-boo-yah from the valley of the sun.
Cramer: Holy cow. I wish I were in the valley of the sun.
I'll spare you the details. Hopefully you assumed that the Caterpillar advice wasn't the worst. It was simply the first.
2 Year Chart of Level 3 Communications Inc.
You can't wait and then buy it. You have to keep in it now!
Here's the next one.
2 Year Chart of Allscripts-Misys Healthcare Solutions, Inc.
It's a triple buy!
Here's a comment someone left on YouTube.
I just had a seizure watching this. Am I supposed to actually make money watching this guy? Trading is more than hot stock picks, it's all about money management. - powerfullogic
That reminds me. I did not have a seizure last night watching 60 Minutes.
My equity position is simple - I own none. Partly because my occupational pension scheme owns lots, alas.
ReplyDeletedearieme,
ReplyDeleteMy equity position is simple - I own none. Partly because my occupational pension scheme owns lots, alas.
Ameritrade offered some simple advice to me today. I was sent an email that said, "Time is running out."
It turns out that it was not intended to be a dire warning though, lol.
They just wanted me to know that if I don't deposit a LOT more money by the end of March then they won't be able to give me a FREE Garmin nüvi 265WT and I apparently won't be eligible for a free Retirement Checkup.
I can picture the Checkup thinking now.
What the bloody @#$%? Why the @#$% don't you own any @#$%ing stocks! Good grief! Your haven't even made one @$%%ing trade in the last year. How the @#$% are we supposed to make any @#$%ing money off of you!
I can also picture what will be said.
Nobody ever loses money in the stock market long-term.