Skip to main content
Message Font: Serif | Sans-Serif
 
No. of Recommendations: 94
I have not been a regular reader of James Cramer over the year, but this comment from a recent column was too much to swallow:

<Let me make this as clear as possible: Tech stocks don't get higher multiples than nontech stocks anymore. If you see some with higher multiples, if you own some with higher multiples, you should sell them. Then you won't lose as much money as those who don't.

I wish I could be less stark, because inevitably a tech stock, a Qualcomm or a Broadcom, will now go up three points and a bunch of bozos will once again bet on these golden calves to get them out of the desert.

Forget it. Not going to happen.

This is the third anniversary that I have been saying this.>

The link to this full column is here:

http://www.thestreet.com/funds/smarter_up/10010044.html

In response to this column, I sent Cramer the following email with the subject line “Historical Revisionism”:

<Mr. Cramer, given that you regularly rage about the dishonesty at Enron on CNBC, is it too much to expect you to be honest yourself?

In a recent column, you say that you have been warning against high multiple tech stocks for 3 years now. But you wrote a column on 2/29/00 ("The Winners of the New World") that was spectacularly bullish on tech.(http://www.thestreet.com/funds/smarter/891820.html).

I remember that article because I printed it and kept a copy to have a record years from now to illustrate to people how ridiculous things get during an investment bubble. Here's how you concluded that column/speech:

"A-ha, that just leaves us with tech. That's why we keep coming back to it. That's why, despite the 80% increase in the Nasdaq last year, we are looking at a record year now. It is by that process of elimination that I have picked my top 10. And my next 10 and my next 10 after. Only those companies are owning. The rest? You can have them."

Please, stop lying about your record.>

There, now I feel better.
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.