Jim Cramer’s Worst Investment

Dec 28, 2014
J. Webster
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There was no Mad Money for Jim Cramer in this stock trade - no boo-yah shouts:
Memorex Telex was by far the worst investment I have ever made. This computer-storage company had a terrific business but way too much debt. So in 1992 they filed a prepackaged bankruptcy that wiped out the stockholders. I waited for the bondholders who got stock in the bankruptcy to sell it. I bought several hundred thousand shares at $2 when it started trading. It almost immediately dropped to $1.50, where I bought another couple of hundred thousand. In a few months the stock dropped to

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Michael Lucarelli to Star in Next “Chariots of Fire”

Aug 28, 2014
J. Webster
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Just imagine the Chariots of Fire music playing as Michael Lucarelli runs from the CNBC cameras even though he loses a sandal...he's perfect for the role.

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TD Bank: America’s Most Convenient Bank

Jul 7, 2014
J. Webster
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TD Bank, a Canadian bank, is growing in the United States because it didn't take part in the subprime mortgage crisis and it focuses on functioning as an actual bank, you know with tellers and dog biscuits. Yes, the best American bank is a Canadian bank, not one of those too big to fail banks like Wells Fargo, Bank of America or JP Morgan. No, the best American bank is Toronto-Dominion Bank:
In the late nineteen-nineties and early two-thousands, the financial-services industry innovated by selling products like subprime mortgages, collateralized debt obligations, and mortgage-backed securities, some to a previously untapped customer

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Janet Yellen to Star in New Neighbors Movie

Jul 7, 2014
J. Webster
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Janet Yellen's neighbors aren't too happy with her security detail. Her neighbors don't like the police officers who shuttle her to and from the Federal Reserve and watch her residence. In particular, they don't like their silly blue police uniforms, how they eat fast food, and their visible guns, along with a number of other things. But it all sounds like it could make a great movie though, how about Neighbors Part II starring Janet Yellen:
"As neighbors tell it, earlier this year, the security detail protecting new Federal Reserve Chairwoman Janet Yellen barreled through the cul-de-sac where

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Financial Tweet of the Week: Steve Burns

Jul 7, 2014
J. Webster
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The week in the stock market has only just started but we already have our financial tweet of the week. Too many times traders want to get revenge, win back the money they lost or get too attached to a stock or just let their emotions and their ego get too involved in the trading, which only leads to disaster. This tweet pretty much nails it.

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Financial Tweet of the Week: ZeroHedge

Jun 27, 2014
J. Webster
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GoPro went public yesterday and the stock is shooting higher, up 18% as I write this. I think ZeroHedge captures the essence of this IPO with this tweet. This is from GoPro's description in their Google Finance listing: "GoPro, Inc. develops hardware and software solutions to alleviate consumer pain points associated with capturing, managing, sharing and enjoying engaging content." Not sure what "consumer pain" points

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You Missed the Big Run in the Stock Market

Jun 20, 2014
J. Webster
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So you missed it. Just admit you missed the big run up in the stock market. Don't jump in now. The bottom in the stock market happened five years ago. It's too late. You could have bought Starbucks at under $8 a share - it's now trading at $75. Harley Davidson at trading under $12 a share - now it's near $70. It's painful I know but don't feel like you have to make crazy bets since you missed out. Yes, all these brands were crazy cheap back then. Heck, you could have gone long a big bank like Wells

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Ex-Bear Stearns Executive Gave Out Toaster Ovens at Goldman Sachs

Jun 18, 2014
J. Webster
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I wonder what constituted a "notable" trade to "earn" the toaster oven prize at Goldman Sachs? Was the ex-Bear Stearns executive punking some of the Goldman Sachs traders....? Sorry, this year you're not going to get the full bonus you were expecting from Goldman Sachs, but here, have a nice toaster oven, that's what we got when I worked at Bear Stearns. Here's the story from Bloomberg:
While the move cost the group profits, it once again went short in the middle of 2007, generating gains of $2 billion to $3 billion, Salem said. The group made

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Lunch with Warren Buffett: $2,166,766

Jun 10, 2014
J. Webster
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Yeah, so $2,166,766 is a lot of money for a lunch with Warren Buffett, but the money goes to the Glide Foundation...and I'm sure there some kind of tax write off for this, right? Plus, there's then all the media coverage over your winning bid, which must help whatever investment firm you work for, right? And then there's all the knowledge you'll gain by having lunch with Buffett - I'm sure you'll get at least one stock tip out of the lunch, right? Bidding started at $25,000 and there were 121 bids in total. All you had to do was

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The Feds Transparency Will Create Bubbles

Jun 8, 2014
J. Webster
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Greenspan, Bernanke, and maybe now Yellen, with their transparency and forecasting of what the Federal Reserve is going to do, has caused increased risk taking not reduced it:
IT may seem counterintuitive to use uncertainty to quell volatility. But a small amount of uncertainty surrounding short-term interest rates may act much like a vaccine immunizing the stock market against bubbles. More generally, if we view humans as embodied brains instead of disembodied minds, we can see that the risk-taking pathologies found in traders also lead chief executives, trial lawyers, oil executives and others to swing from excessive and ill-conceived risks to

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