Let me guess, Cramer is once again sour on tech and GLW in particular? This after most stocks have already fallen 80%. And wasn't he the Bullish one saying in March of 2000 that if you did not own his 10 internet stocks you were basically an idiot? Nearly every one of his Top 10 picks has gone bankrupt BTW.
Listen to this guy at your own peril. He's a legend in his own mind.....unfortunately, in some others too.
On February 29, 2000, just before the Nasdaq peaked, financial columnist James Cramer, of TheStreet.com, offered his "top 10 stocks for who is going to make it in the New World".....According to Cramer, "We are buying some of every one of these [stocks] this morning...We buy them every day, particularly if they are down, which, no surprise given what they do, is very rare. And we will keep doing so until this period is over -- and it is very far from ending. Heck, people are just learning these stories on Wall Street, and the more they come to learn, the more they love and own!".....Over the next 12 months, the average fund on Cramer's "top-10" list dropped 80.6%.....Cramer's picks performed only slightly better than the Jacob Internet fund, which was the worst stock fund in the U.S. over the same period, down 83.2%.
"The Winners of the New World," James J. Cramer, TheStreet.com, February 29, 2000
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