Thomas H.,
I can't believe I'm doing this, but I'm actually going to defend Cramer. His record pretty much speaks for itself: 24% over the last 10 years vs. 15% for the S&P. Not too many diversified funds, hedge or otherwise, can claim that. He's a brilliant trader and a smart, safe, long-term stock picker. His biggest problem is he gets too emotionally caught up in the swings of the market, and thus becomes kind of a contrary indicator as a commentator and columnist during market extremes; last December, for example, he was urging people to dump Cisco for Sysco on the assumption that tech stocks were going to get killed, when we were near a bottom on the tech selling, and his Aug. 31 or Sept. 1 column was so bearish that I took it has a cue to start buying. Just my opinions, for all they're worth, but as he's everywhere these days it's probably a good idea to understand something about him.
Paul
P.S. In the past he has favored owning CSCO over TLAB, so if he's buying TLAB here he must find the value compelling. |
