>> According to the release, "the indictment lists five victims
>> whopurchased PairGain stock at the inflated price, including
>> James Cramer, who is president of the New
That's hilarious - what a sap! I wonder if the investor's in Cramer's fund realize what a putz they have running their money. Scanning the stock boards and buying based upon news posted in a group, without checking the story out - what a complete and utter idiot. If I were him I would have eaten the loss out of personal funds just to save the embarrassment.
The killer for me was his 5-part mea culpa in TSC about his Hayes investment. He knew (or so he wrote) that Hayes was a looser; then the stock ran up on the acquisition news, and he had a chance to get out unscathed. But, he also wrote, the price was going up, so he figured he should buy more. He knew the fundamentals were crap, but instead of acting on what he knew, he bought blindly based on the volume and price spike. What a joke... Suckered into a false rally based on nothing - following like other newbie investor sheep, drawn to their slaughter by the scent of food laid out by the smart money. I thought he was bad, but not this bad. From under which rock did this guy crawl out of? |
