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View Diary: Books So Bad They're Good: Beardstown Ladies Sing This Song, Doo-Da, Doo-Da! (61 comments)

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  •  Yes. I bought the book and started an (11+ / 0-)

    investment club with a bunch of women from work. When we dissolved our club a couple of years later. I came out $200 ahead. I had started an individual investment account a few months after I learned a little about investing. I still have it. I hardly ever remember to check on it. I think investing in the stock market is a sucker's game
    . My best companies (Peets and Zoll) went private and paid about 10x more for my stocks than I paid for them. The rest of my stocks are limping along but I'm
    making more on them that I would make if I sold them and put the money in my credit union. I researched every stock I bought except for one. A guy at work, who was a good chess player and seemed to be smart about money,  told me about Jim Cramer (this was pre-financial meltdown). I bought Cramer's book and watched one Cramer television show. Although I was not favorably impressed by Cramer (he looked as if he were on the verge of a stroke or a heart attack), I bought one stock on his recommendation. It sucked. In fact, it was the worst perfoming stock I ever bought.

    48forEastAfrica - Donate to Oxfam> "It is better to light a candle than to curse the darkness." Edna St.V. Millay

    by slouching on Sat Nov 23, 2013 at 09:48:42 PM PST

    •  Is Cramer the one with the dollar signs? (7+ / 0-)

      Because he sure looks like a lunatic.

      Another one who shouldn't be trusted:  Peter Schiffer.  He seems to trade in scare tactics, which is never good.

      This isn't freedom. This is fear - Captain America

      by Ellid on Sun Nov 24, 2013 at 04:50:44 AM PST

      [ Parent ]

      •  Cramer was the one (3+ / 0-)
        Recommended by:
        RiveroftheWest, No Exit, llywrch

        yelling to the camera that the market was "FINE!" right before the big financial meltdown.  Jon Stewart mocked him half to death.

        I shall die, but that is all that I shall do for Death; I am not on his payroll. - Edna St. Vincent Millay

        by Tara the Antisocial Social Worker on Sun Nov 24, 2013 at 08:57:51 AM PST

        [ Parent ]

        •  I would have mocked him on principle (3+ / 0-)

          He sounds like an utter ass.

          This isn't freedom. This is fear - Captain America

          by Ellid on Sun Nov 24, 2013 at 01:00:55 PM PST

          [ Parent ]

          •  He is (1+ / 0-)
            Recommended by:
            RiveroftheWest

            Back in the day, I used to watch CNBC, the financial channel. I stopped for a number of reasons. One was that after about 15-30 minutes of watching, I found the content repeated itself. Another was that it was amazingly full of fluff -- like most business news. And third & most important was that I was unemployed & didn't have any money for investment, so it seemed kinda pointless to watch a financial channel.

            Anyway, Cramer was one of the regulars on CNBC, reading the press releases about the hyped business or event of the moment, & he never struck me as one of the more thoughtful talking heads. He made Maria Bartiroma appear to be thoughtful & intelligent.

            If anyone is interested in useful investment advice, there is a group called the American Association of Independent Investors which has a website & publishes a newsletter. (Or at least used to; I let my subscription lapse 10 years ago.) I found they offer almost everything an investor would need to get started -- & don't accept advertising. Spend your time & money with them, & not with clowns like Cramer.

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