Skeeter, I can't say one way or the other. However, if you look at his calls from a strategic POV, IMHO part of the reason he's so effective is the fact that like a good general, he maintains the element of surprise. Even when the calls themselves are consistent with recent commentary, there's still the "oh s***, there he goes again" dynamic at work.
You don't have to like Jim Cramer. I happen to like him a lot and value his insights, but when it comes to TK, I vehemently disagree with him and have made no bones about it whenever I've e-mailed him on the issue. I think he's more wrong than right on TK. He thinks he's more right than wrong. What can you do? (of course, I have been playing with some spreasheets, and will probably e-mail him the results <g>)
The fact that TK has come around on MU is irrelevant to me. The few items of his that I've seen, IMHO are fairly vapid and merely acknowledge what was obvious to most people months ago. It's surprising to see how much of some of the material in his research reiterates positions which were outlined by many folks here on SI, various on-line sources, and other analysts well in advance and in a much more thorough fashion.
IMHO, he and his ilk are the market's equivalent of random urban street crime. If you live in the city, you better be aware that someone can pull a gun on you if you walk down to the deli to get some Ben and Jerry's. If you trade or invest in chip stocks, well, there's this big bloated ego with 14,000 brokers who can and does show up every now and then and do some damage.
If through its deafening silence the SEC is applauding this type of activity and believes it furthers the basic underlying purposes of the financial markets (assisting in the allocation of capital to economically productive uses while providing efficiency and liquidity for the resulting securities), IMHO they're "more wrong than right" as well.
Good trading,
Tom |
