He's a "trader" man!!!! - not as much a long term investor (his portfolio is about 50% trading/50% long-term if remember right). Can tell you don't know jack about how the game works. Lots of traders would have bought PAIR not even having seen the bogus story. All that matters is that the price is moving. And, anybody could have been caught in that trade. Just part of the way it is. You're going to have some real dud trades that move away from you right off the bat, that are based on bogus news, or where you misinterpret the info, whatever.
Who are you anyway, "the smart money"??? Tell me, how many shares of PAIR did you short when you heard the story was a dud?? Funniest part of all this is that no one would ever see a mea culpa on your investing/trading, nor on most other fund managers either. In the end it's the guy who looks back at his mistakes that doesn't make them again. It's great that Cramer shares that with his readers. That's what subscribers would be paying him for!!
By the way, as a fund manager, you don't scan stock boards looking for news, that's what you pay Bloomberg/Reuters and gazillion $$$/month for. Cramer likely heard that PAIR was on the move from a sell side broker, then jumped in. |
