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Now who’s the idiot?

Started by trout-r-us, January 05, 2023, 14:39:00 PM

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Heard today that BBBY stock is crashing on word that the company may fold.

Was curious to see what Jim Cramer might have to say about the company and its share holders. Seems he's not mentioned it today (or I just haven't found it) since the stock has dropped below 1994 levels. 😳
Is Cramer an idiot? I find that term rather harsh. What I believe is that the stock market in general involves risk in much the same way as sport's betting. It's a gamble.
Sometimes ya win; sometimes ya lose.
PS. It ain't over till it's over, so who knows? Perhaps it's just the right time to buy.🤔

Interesting chronology:

1/9/2020-  MAD MONEY
Jim Cramer says 'hold your nose and buy' Bed Bath & Beyond on 19% plunge.

6/24/2021-   Jim Cramer tweeted Bed Bath & Beyond "to the moon" which is a somewhat popular saying when discussing stocks that have a heavy interest with the Reddit or internet investors.

8/17/2022-  Jim Cramer Bashes Bed Bath & Beyond: Why He Says Retailer Could 'Save Themselves,' But Would 'Rather Sink The Ship'

1/5/2023- Bed Bath & Beyond Warns It May Go Out of Business

Woolly Bugger

Cramer may be right about 1/2 the time — he's really not much better than a chimp throwing darts .
ex - I'm not going to live with you through one more fishing season!
me -There's a season?

Pastor explains icons to my son: you know like the fish symbol on the back of cars.
My son: My dad has two fish on his car and they're both trout!

Woolly Bugger

CNBC's Jim Cramer urged viewers to buy Silicon Valley Bank stock last month

CNBC analyst Jim Cramer is once again being pilloried on social media after a clip resurfaced showing the "Mad Money" host recommending viewers buy shares of Silicon Valley Bank's parent company, which owns the tech-driven commercial lender that swiftly collapsed on Friday.

"The ninth-best performer to date has been SVB Financial (the bank's parent company). Don't yawn," Cramer told viewers during a Feb. 8 episode of "Mad Money."
ex - I'm not going to live with you through one more fishing season!
me -There's a season?

Pastor explains icons to my son: you know like the fish symbol on the back of cars.
My son: My dad has two fish on his car and they're both trout!

Trout Maharishi

The bad thing is people see him and recognize his face and name and assume he is some kind of financial expert with a 100% accuracy rate ;;- . When a bank this size fails it's a big deal. b';  -p- The government has stepped in and taken control of the bank. I heard there is quit a bit of money in numerous accounts that exceeded FDIC insured limits :o .  Not only that, but bank insiders had been dumping stock. I think as the Fed continues to raise rates there may be more of these type of failures.
"We're all going to die, all of us, what a circus! That alone should make us love each other but it doesn't. We are terrorized and flattened by trivialities, we are eaten up by nothing."
― Charles Bukowski


I agree with TM on Cramer. He is a pretty smart guy who provides entertainment along with knowledge that many need to figure out how to invest their money, but his picks are subject to the risk that we all take when we open an investment account. Listen to what he has to say but apply the appropriate grains of salt before you decide to pull the trigger. Of course if you listen to him on the interweb, it must be true so do whatever he sez.  :drum

What I am somewhat surprised at, is that the the bank was not sufficiently capitalized to allow for the changes in the market/economy. Most of the other large banks have been crowing about their strong capital bases for a while now. And these guys were big enough that there were regulators on site year round (probably OCC) who would have been monitoring everything daily so how did they miss this?  That's because 40+ years of dealing with regulators convinced me that most don't know shit about banks in general- just want to suck up.... Sorry. I shouldn't start down that path...

In any event, should be interesting to see analysis of why they failed in spite of regulatory oversight. Again.. b';

As always, pays your money and takes your chances. Hope this doesn't affect any of y'all.

When fishing, a person ought to carry a flask of whisky in case of snakebite. Furthermore, he ought to also carry along a small snake.

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