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Pastimes : James Cramer Skeptic Thread

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To: PaperChase who wrote (683)	9/2/1998 11:50:00 AM
From: WhipsawMcGraw	Read Replies (1) of 1254

You must understand that Cramer is a hedge fund manager. Mutual funds cannot be short the market (usually.) Mutual funds cannot be is cash for more than a short period of time. The beauty of a hedge fund is that the manager can take a 70%-30% bear hedge and turn it to a 70%-30% bull hedge in one day. As a client of a hedge funds I rather see the ability to change as market conditions do. The market has lost the last three rallies it posted with the market coming lower each time. Dow down 299 Dow down 350 Dow down 514 (from the hip, not exact numbers) This after the market rallied for a short period of time. The short position in stocks is also at a record level which will always create buying in the market place for those covering. Cramer might be wrong but if he is the fund has the ability to capture the market at that moment. If Cramer is a bear and comes out that he is changing bull, god bless him. He voices his opinion and he is not ashamed of being wrong. Most traders are wrong 80% of the time but what they do with the 20% is what makes them either good or bad trader/fund managers.

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