Kramer of CNBC recommending gold
yellowkid
Posts: 5,486 ✭
Jim Kramer on CNBC is now recommending gold as part of your portfolio, and he say the best way to hold it is in metal form. I have long thought that if the guy on the street decides that gold is the place to be, it could send the price skyrocketing. Any thoughts? Or if it becomes the "conventional wisdom" to hold gold, is it time to think about a price to get out at?
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Time for all of you to sell your physical gold.
Will holding gold ever become conventional wisdom? I think not. For every Kramer (or is it Cramer? - I never watch CNBC) you have a greek chorus of gold bashing sirens whining about gold being either a bubble, oversold, risky scheme, etc.) The guy on the street either cannot decide or may not have the cash to spend on gold.
If the price of gold surges high enough it may be wise to sell some or all if (1) you believe you can buy back the ounces later at a lower price or (2) you can use the money to pay for other tangible assets like a debt free home.
Even if gold became a bubble I would not sell my holdings since gold would have to crash hard to drop below my average cost.
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For every Kramer (or is it Cramer? - I never watch CNBC) you have a greek chorus of gold bashing sirehard to drop below my average cost.
It is "Cramer," I don't have a tv and listen on the satelite radio, I don't know that I had ever seen his name written before. I have wondered what his stock picking record is, I am reminded of Louis Ruykeyser, who's actual record was less than stellar, and his "elves index" which he finally discontinued after they totally missed some market trends.
At least I can get his for free!
If you believe fiat currency is temporary (it always has been in history) and that King Dollar in current form is doomed (and it is), then Gold (and silver) and only Gold will protect you when it does fall. In other
words, it cannot be in a bubble and will only rise while fiat currencies fall.
Cramer got this one right.
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I never know what to think about Cramer although he has always been entertaining and he does show prodigious knowledge of stocks from his constant immersion in the stock market. Although he advocates for the little guy, he's been a high-flying Wall Street insider for many years, so I always have to take him with a grain of salt, thinking that he'll never get away from his previous biases. He does know the interconnecting workings of the financial markets, and he's worth taking in as a source, but not necessarily as an authority.
His record used to be reasonably good a few years ago when I listened to him more often than I do now, but he will miss a few as well.
I don't know how much impact a Cramer call on gold will have on the gold market, my guess is "not much". Beyond that, I'm not sure how nervous I'd get even if everyone around me was buying gold at this point, because I am more focused on the fundamentals of the economic and monetary situations as a driver of gold and precious metals prices. I'm a true believer - not that gold will go to the moon, and not that gold is the only true money, but that gold is the least dangerous place to be right now (and silver and platinum too). I just think that things are too unstable, but maybe it's just my age.
I knew it would happen.
<< <i>
If the price of gold surges high enough it may be wise to sell some or all if (1) you believe you can buy back the ounces later at a lower price or (2) you can use the money to pay for other tangible assets like a debt free home.
>>
<< <i>Cramer has recommended some gold in a portfolio before, but he never bumps the percentage very high, more as a hedge than anything else. Did any commentary accompany his recommendation as to why he thinks that gold is a good idea at this time?
I never know what to think about Cramer although he has always been entertaining and he does show prodigious knowledge of stocks from his constant immersion in the stock market. Although he advocates for the little guy, he's been a high-flying Wall Street insider for many years, so I always have to take him with a grain of salt, thinking that he'll never get away from his previous biases. He does know the interconnecting workings of the financial markets, and he's worth taking in as a source, but not necessarily as an authority.
His record used to be reasonably good a few years ago when I listened to him more often than I do now, but he will miss a few as well.
I don't know how much impact a Cramer call on gold will have on the gold market, my guess is "not much". Beyond that, I'm not sure how nervous I'd get even if everyone around me was buying gold at this point, because I am more focused on the fundamentals of the economic and monetary situations as a driver of gold and precious metals prices. I'm a true believer - not that gold will go to the moon, and not that gold is the only true money, but that gold is the least dangerous place to be right now (and silver and platinum too). I just think that things are too unstable, but maybe it's just my age. >>
Well said!
--Severian the Lame
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<< <i>Cramer has recommended some gold in a portfolio before, but he never bumps the percentage very high, more as a hedge than anything else. Did any commentary accompany his recommendation as to why he thinks that gold is a good idea at this time?
I never know what to think about Cramer although he has always been entertaining and he does show prodigious knowledge of stocks from his constant immersion in the stock market. Although he advocates for the little guy, he's been a high-flying Wall Street insider for many years, so I always have to take him with a grain of salt, thinking that he'll never get away from his previous biases. He does know the interconnecting workings of the financial markets, and he's worth taking in as a source, but not necessarily as an authority.
His record used to be reasonably good a few years ago when I listened to him more often than I do now, but he will miss a few as well.
I don't know how much impact a Cramer call on gold will have on the gold market, my guess is "not much". Beyond that, I'm not sure how nervous I'd get even if everyone around me was buying gold at this point, because I am more focused on the fundamentals of the economic and monetary situations as a driver of gold and precious metals prices. I'm a true believer - not that gold will go to the moon, and not that gold is the only true money, but that gold is the least dangerous place to be right now (and silver and platinum too). I just think that things are too unstable, but maybe it's just my age. >>
...comrade, maybe not the moon but at least $8k!
I'm waiting for either George or Elaine to speak up.
peacockcoins
<< <i>Kramer's recommendation?
I'm waiting for either George or Ellan to speak up. >>
Why would you need anyone to tell you to by gold?
roadrunner
<< <i>I'm still trying to figure out how to spell "boo-ya."
roadrunner >>
<< <i>
<< <i>Kramer's recommendation?
I'm waiting for either George or Ellan to speak up. >>
Why would you need anyone to tell you to by gold? >>
I agree.Its really a personal decision.No one knows for sure where its going.For me with almost no gold to speak of,I have bought more gold than I would have imagined in years past.But thats just me.i have a bit of disposable income now so I am not using the rent money.I think that everyone who can should have at least a little gold.
Recent things I have read indicate that most of the population dont own gold.I wonder if its due to a fear of spending1250.00or more an ounce or is it the tight economy??
Any thoughts on that?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Bankrupt twice that I know of. There's a reason he's an entertainer on TV.
<< <i> I have wondered what his stock picking record is,
Bankrupt twice that I know of. There's a reason he's an entertainer on TV. >>
Good TV & $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ bills!
<< <i>Kramer is a fool. >>
He graduated magna cum laude with a BA from Harvard then later earned a JD from Harvard Law School.
Yeah, what a dummy.
His hedge fund had one down year during the time that he ran it (1988-2000) and his performance via his charitable trust is published for anyone to see.
<< Kramer is a fool. >>
He graduated magna cum laude with a BA from Harvard then later earned a JD from Harvard Law School.
Yeah, what a dummy.
His hedge fund had one down year during the time that he ran it (1988-2000) and his performance via his charitable trust is published for anyone to see.
.
I agree, he had a great talent for picking stocks in those twelve years. He got out when he did because he wanted to enjoy the resy of his life. I doubt if he NEEDS the TV show.
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