Rick Santelli Takes Down Jim Cramer

This video is too good to pass up, even if it is a bit over-produced. It is based on the amazingly rare event of someone on CNBC calling out Cramer. In this case it was Rick Santelli, probably the most rational and experienced regular commentator on CNBC.

snip...

Back in his hedge fund days, Cramer was known as "Cramer from the Church of what's working now". Nothing has changed. "What's working now" is great until it isn't, and even the high priest doesn't know when that'll be - even if he says he does. Even valuation has little bearing on short-term price movements. Long-term though, it is the only thing that matters. Without valuation as a guide, you might as well take your IRA to Vegas. The odds of making money are probably better.

more...

http://seekingalpha.com/article/61662-rick-santelli-takes-down-jim-cramer?source=d_email

What ever happened to "Buy low, sell high?"

no wonder it was so easy (and brutish and short; stock trading career i mean)!

with darts and a newspaper stock page against Wall Street Week on PBS.

The darts won.

When stock information trickles down to us little people, the party's been over for about six months.

Listen to your gut. So far, mine's been right. Yours might be a good one, too.

Her students have to compete with her grandson to see who gets the best return. Her grandson is 5 years old and still thinks he's picking SOCKS since he doesn't know what stocks are.

She explains the dartboard history every time, but the kids never believe it.

The only people who usually beat the dartboard during the class are the ones who got really lucky.

and having done that-listen to that quiet, still voice. I have been a bear for almost to years and have cut my stock exposure for over a year. I may have missed some of the gains this last year, but I sleep pretty well. I don't worry about timing-I do well enough on the trends and fundamentals.

The fact that the Recession is just now making news Warpy is proof positive that the news media is behind the curve on this one. We have been in one for almost a year now. I'd rather call it early and get all my money off the table and lose a little profit that leave it on the table and lose capital. It is not as glamorous-but it works for me.