“Buy more ... That's the cheapest bank. It's going to be the best bank. I have faith in [CEO Charlie] Scharf"
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Those who know how to make money investing sit quietly on their yachts sipping G&T's.
Those who can't get TV shows and press buttons to make noises like a morning zoo radio show.
Well, I think the most amusing thing that he said was that Wells Fargo was going to be the Best Bank! I guess only time will tell.
Cramer will be around as long as people find him entertaining.
Either H.L. Mencken or P.T. Barnum said something about how nobody ever went broke underestimating the intelligence of the American public. Cramer doesn’t beat the market but he does have a certain charisma and ability to connect with his callers, so as a showman, I’d say he does well enough to keep getting paid.
Cramer lost all credibility decades ago. Is he really still around?
Cramer believed in Wachovia too before it collapsed.
Cramer also said he believed Stumpf on fake accounts and he believed in Sloan to rebuild the company.
He's a trader, so short term he's probably right. Short term stock gains and long term company success are not mutually exclusive, but I'm guessing most people here are much more concerned about the long term prognosis for the company than they are the 30 day future of the stock.
He's just another talking head - why is this post even here? I'm assuming the increase in frivolous posts means that layoffs are down. Maybe that's a good thing.
I’m sure he loved Enron at some time too.
He would have been called a film flam man back in the old days. I’m sure he gets some cash in the side to make these so called expert recommendations.
Cramer is a joke. He’s no better than a well-informed day trader with a TV show. The dude can “talk” and I think that’s why his show even exists. No real investor takes his opinions seriously, as another posted mentioned, his overall performance isn’t great and he bets on “obvious” things like FAANG. His tune would change if the government broke the FAANG companies down so why bother listening to this guy other than for the entertainment factor if a guy ringing a bell (it’s not even a cow bell too).
there is research out there that backtested Cramer's stock picks. Research found that in the short term you outperform the market but in the long term you lag the market.
He supported Stumpf, Sloan, and the inventor of cross selling, Di-k Kovacevich. The reality is that at the end of last year, WFC was a tremendous value by all valuation metrics and should've been valued similar to BAC. Market caught up to this and now the stock is picking up the lost value over the last 18 months. Certainly Scharf has made some much need and unpopular change to right the ship but at the cost of the culture internally. Everyone I speak to internally is miserable and unhappy.
Hey OP, why dont you go invest 20 million in it; if you do that maybe we will believe you. Actions speak louder than words.
“Blue Horseshoe loves Anacott Steel.”
He had faith in Bob Steel too.
Jim Cramer is from the future. He knows what he is talking about. He invented FAANG.
WFC is up nicely. The market rewards Charlie. Enough said.
He also said Bear Sterns wouldn’t collapse.