12/6/07 Cramer just publicly called the Fannie May/Freddie Mac/Citi bankruptcy

[Renew Deal]

A very alert DUer caught this on 12/6/07...

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=114&topic_id=31129&mesg_id=31129

[redqueen]

1. Is there anything more to this?

[Renew Deal]

3. Did you see what happened yesterday?

http://news.google.com/news?hl=en&tab=wn&ned=&ie=UTF-8&ncl=1126369407

[redqueen]

7. Yeah but I'm still not getting it...

a guy saw it coming and nearly mentioned it on TV... and someone here saw him almost say it...

?

[Renew Deal]

8. Jim Cramer is a big deal and he said Citibank is going under.

That's a shocking statement from somebody of his stature. Looking back, he might be correct.

[redqueen]

9. Okay.

[Romberry]

10. Jim Cramer is a big deal?

In whose mind other than his own is Jim Cramer a big deal? Wanna go broke fast? Follow his advice to the letter. Cramer is a past crook and a hack with a big mouth who consistently misses the mark and manages to buy high and sell low. Countrywide Mortgage was as recentky as six months ago still one of his darlings. Need I say more?

[Renew Deal]

12. In the NY Wall St. community.

I live in NY and talk to lots of people. He's respected. I'm no stockbroker and I don't watch his show, but a lot of people do.

[FredScuttle]

14. Lots of people watch Dr. Phil too

and you know he just oozes integrity...

[FredScuttle]

13. He has a TV show and yells like his feet are being dipped in acid. Of course he's a big deal

:sarcasm:

You are right on the mark on Countrywide....what a disaster if you followed this charlatan's advice

[Zynx]

2. They would get bailed out before going bankrupt.

By the way, be very careful here, causing a run on a bank is not only stupid due to deposit insurance, but it's also a crime.

[Renew Deal]

4. I'm not causing a bank run.

lol, I wish I had that kind of influence. :D

[Zynx]

5. Just be careful. It's an easy area to get yourself in trouble.

[Renew Deal]

6. OK, thanks

I've had this post in the back of my mind because it's so shocking. I had to remind people after yesterday's events.

[FredScuttle]

11. Jim Cramer? The genius who said to buy Countrywide at $44?

From Atrios 1/9/08

Jim Cramer, 2/6/07:
http://www.thestreet.com/markets/activetraderupdate/10337257.html

The conundrum of Countrywide (CFC - Cramer's Take - Stockpickr - Rating) going up even as another subprime dealer, Mortgage Lenders Network, goes under, may be answered by a simple tenet: The weak hands are going under, leaving the biggest and best to triumph.

When I pulled up with Angelo Mozilo, the man who built Countrywide -- the man who is Countrywide, some would say -- we joked about how strong Countrywide's business is because it has always "modeled" the bad loans better than anyone. One of the mistakes made by the analyst community is believing that any loans that go under could be death to a lender. In truth, the good ones model what will happen under a lot of scenarios, and it is pretty clear that Countrywide has the best models. Always has.

...

That's why it is going up. That's why it will continue to go up. That's why Countrywide is still a buy, despite the problems in housing and the headlines about how bad this business is.
(snip)

Countrywide closed at $44.74 on February 7, 2007. Had you invested $10,000 in that stock then, it would now be worth about $1050.00

[snappyturtle]

15. K&R This is very interesting to say the least. Thanks for posting. nt