Saturday, July 12, 2008

Cramer: Stocks are Doomed, Buy Wine Instead

From 1440 Wall Street:
Many professionals on the Street follow Jim Cramer. But not his recommendations; they fade those, and trade 'em the other way. And for those people, a buy signal has been issued:

Jim Cramer, the often loud and always bullish host of a popular CNBC show, is now bearish.

Cramer frequently tells his audience that he believes there is always a bull market somewhere, and it's his goal to help them find it.But this time is different; it's doom itself, Cramer recently wrote in New York magazine. "In 25 years on Wall Street, I have never seen things this bad."

His investment advice is always very specific, and he is also clear about what he sees over the short term."Sell everything. Nothing's working", he writes

Of course, fading Cramer is not a foolproof strategy. But for the oenophiles on the Street, whose day jobs include flipping stocks and bonds around, Cramer's advice on the wine market might give them pause.

Personally I am buying a few stocks in spite of Cramer's advice, but I have some wine for sale, now that he is collecting. If anyone is looking for a deal on 1994 Bryant Family Cabernet, drop me a line. Although I might want to wait and sell it into strength, assuming he pumps it in this edition of WineLibrary TV, where he digs into a bottle of Chateau Latour with Gary, among other goodies:...MORE including Cramer video.

This is a subject we have an interest in. Some of our earlier posts:

5 whiskeys worth collecting. Or: Make Ethanol in Your Backyard
‘Klimakatastrophe’ picked as Germany’s word of year. AND: 5 Drinking Stories That Put Yours To Shame
September sun to save Bordeaux 07?
The '05's have gotten spendy. Here's Berry Bros. & Rudd on the 2005's.
Climate change effects on wine
Wine into Biofuel: Reverse Transmutation-EU practices Backward Alchemy
Cold summer forces earliest French wine harvest on record
Climate change and the world wine map
Climate Change and Wine
Thieves steal solar panels; Wine Fine
Global Warming Investments