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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: GuinnessGuy who wrote (117931)	3/6/2009 12:17:35 PM
From: Knighty Tin	Respond to of 132070

I know he was sliming them, at least partially, because the creep cancelled his appearance on the show, but, he sure got some damning clips. Especially since Jim Cramer is out there telling the world about all the great predictions he made and how he warned us to sell. Is "the market is overpriced, but it doesn't matter, because it's just going to keep going up" a warning? Just like he did after he totally blew the tech meltdown. ("You must own these tech stocks.")

To: GuinnessGuy who wrote (117931)	3/6/2009 12:29:06 PM
From: Knighty Tin	Read Replies (2) \| Respond to of 132070

CNBS, itself, was funnier than The Daily Show this morning. The fund manager of the Third Avenue Global Value Fund, an outperforming fund, was being interviewed by a handful of CNBS hotshots. "Are you finding any value out there in this depressed market?" So, he told them a great story about low rated, short maturity corporate bonds being a great buy at yields to maturity of 30-40%. His concept is that cos. like Ford and GM may go belly up, but they have the cash (courtesy of taxpayers) to pay off these securities when they mature. I'm not sure I agree with him, but he has a great record and his bet is reasonably thought out. "We really want to hear about equities." "I love Hong Kong real estate stocks." "No, in the US." 70% of the guy's portfolio is overseas, but they're trying to force him to say he's buying cheap US equities. To his credit, he kept trying to sell them on Hong Kong real estate, but they wanted to hear that GE was a buy. Which he wouldn't say. <G> These guys ought to be ashamed. Of course, they've never recommended a Hong Kong real estate stock because my old buddy, CHEUY, is too "risky." Not nearly as safe as "Fortress" stocks like Citigroup and GE. <VBG> What a bunch of hoseheads they are.