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Non-Tech : James Cramer -- Ignore unavailable to you. Want to Upgrade?

To: Mark Davis who wrote (458)	5/2/1999 4:15:00 AM
From: cicak	Read Replies (1) \| Respond to of 766

Wow ! - it just goes to show you that such a hoax can fool the best of us - even James Cramer. I predict James Cramer will be quite vocal in court - if it gets to that point. Regards, Phil 4/8/99 excerpt from James Cramer thestreet.com article: ====================================================================== << I bit. It's just one line in an otherwise terrific Realized Gains and Losses page from Cramer Berkowitz, but I'll never forget the hoax: 30,000 Pair, -$26,877. That's what you get for flying on instinct. I hadn't seen the story. I just heard the word on Bloomberg.com: a PairGain (PAIR:Nasdaq) bid. And I took stock. A few minutes later, I'm listening to David Faber in Jeff Berkowitz's spacious office and I see PAIR on the TV. I tell Jeff to make it louder, and sure enough, what I saw made me poorer. "It's a hoax! It's a !@#$%^& hoax!" I screamed after Faber broke the story. "Kick out the PairGain." Cyberdupe. Me. The guy who loves cyberspace. I cut my teeth on the Motley Fool. I helped set up TheStreet.com with Marty Peretz. And I had been had.>>

To: Mark Davis who wrote (458)	5/2/1999 11:09:00 PM
From: Adam Weiner	Read Replies (2) \| Respond to of 766

>> 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?