Agoracom Blog

Cramer: The Sequel. Financials Are Worse Than We Thought. “It’s All Fiction”

Posted by AGORACOM at 2:17 AM on Friday, January 18th, 2008



2 days ago I posted a story titled “Cramer – Citi Is Still Sitting On $40 Billion In Mortgage Paper That Is Worthless“. If that rightfully scared the hell out of you, then this sequel video is going to outright terrify you. Even a hard core realist like me was shocked to watch the despair of Cramer, who has often been accused of being Wall Street’s biggest cheerleader.

Well, you can strip that title from him.

He genuinely believes that he and millions of investors have been – and continue to be – lied to and ripped off by the banks, insurers and credit ratings agencies – all in the name of commissions. He is convinced that things are going to get worse for many banks (except Wells Fargo, Goldman Sachs and a couple of others) but nobody is talking because the system is so fragile that one slip could bring it all down.

This is no conspiracy theorist folks. This is CNBC / Mad Money / Prime Time / “Boo-Yah” Cramer…and he is pissed.

What separates him from us is that he is now fighting on principal thanks to his hefty net worth. Those of you without $50 million lying around better start paying attention and fighting for your life. This is going to get worse – but you should already know that if you’ve been paying attention to this blog over the past few months.


3 Responses to “Cramer: The Sequel. Financials Are Worse Than We Thought. “It’s All Fiction””

  1. Deep says:

    Exactly how do I need gold to grow my hometown?

  2. AGORACOM says:

    Griz, thanks for dropping by the blog. If you’ve been making the call for 5 years, your 3 years faster than me. I guess that Griz nose does smell garbage better than the rest of us 🙂

    I agree that metals and minerals should out perform most other industries. You can write off financials, retail and anything consumer related. The only exception is tech, which should remain strong as we all continue to buy computers, software, cell phones, etc. If you play tech, the safer play is to buy the providers of chips, software, middleware and networking gear. I’d stay from specific consumer plays like Nokia and Apple because consumers will be putting much more emphasis on price over brand.

    Metals and minerals are pretty much insulated from the sub-prime mess. They’re real and people need them to continue growing developing economies. As always, investors need to make sure they buy plays that actually have the goods.


  3. brian testo says:

    Hi George
    I been telling anyone who will listen for the last 5 years, that this was a comming. That is partily why GZD was set up.
    IMHO if there is a meltdown or not, Diamonds, Silver, Gold, Oil&Gas, U308, alternate energy, and base metal stocks should be able to recover faster than the rest. The reason for diamonds is that they are the most portable wealth in the world as we know it. Do you own DD cause I ain’t always rite.

    drill it and they will come