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RealTraders,
For the last several months I have been religiously reading Jim Cramer's
daily articles on "www.thestreet.com". He runs a $400M hedge fund and
has consistantly beat the S&P 500 for the last 5 years -- by more than a
little. He is a fundamental trader. What I have noticed is that he
gets to KNOW the company and its situations. Then by knowing the
company and its prospects and what analysts think about it, he
confidently buys dips or calls -- usually in the money.
Jim Cramer was at one time the largest individual options trader on the
street. He has excellent articles on his options trading. He says
there are no good pratical books on options. He has a Harvard Law
degree, but has audited an options course at Harvard Business School.
He says it was worse than useless -- it was wrong! Sometimes he narates
his trading day, and he will for example describe how he changes around
large option and common positions (sometimes thousands of option
contracts and hundreds of thousands of shares) several times in the last
5 minutes before expiration. He also narates more comforable trades.
That is a REAL TRADER!
He tries to write like a sports writer, who will call a bum a bum, not
like the good times only financial writing that is so common.
TheStreet.com has a list of recommended fund managers. They regularly
report on their holdings and results. Last year, with much fanfare,
they booted out one of the recommended managers, because he rode the
tech slide down last Oct/Nov. They said it was inexcuseable. He was
either asleep at the switch or showed a lack of good judgement. What
publication would do that? Does TAS&C report regularly on systems,
indicators, and gurus that suck? I don't think so.
During the last few days some disparaging remarks have been made
concerning trading "experts" who don't trade. Cramer trades big every
day. If he takes a six figure loss, he will tell you in detail what he
was thinking and feeling (stomach, head, ect. . .). It is very
enlightening. But do not expect him to talk about "wave five", or MACD
divergences. What he does talk about is making returns better than 95%
of all money managers out there.
TheStreet.com costs just $99 a year. It is a steal!!!
Tim Proeber
tproeber@xxxxxxxxxx
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