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Opening Segment #3: |
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'Outrage
of the Day'
then followed by...
'Mad Mail' |
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Wednesday,
December 17, 2008 |
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Jim:
To everybody in the
press, who is
calling Bernie
Madoff's alleged $50
billion scam the
largest Ponzi Scheme
ever, I say, give me
a break...
Although, we are
amazed that the
SEC-run Plaxy
winner, Chris Cox,
showed tremendous
pursuit of
Maverick's owner,
Mad Money fan, Mark
Cuban, while
dropping the ball
totally on Madoff.
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Note:
"Ponzi
Schemes"
are
investing
programs
that
promise
exceptional,
abnormally-high
returns
to
investors,
who get
their
returns
from
money
paid in
by
subsequent
investors. |
We know the truth
about Ponzi
schemes... we all
know the name of the
biggest Ponzi Scheme
in history... and
it's not even
illegal...
It is run by the
U.S. government...
and the name of
it... well, they
call it Social
Security.
In a Ponzi scheme,
investors get their
returns by money
paid in by
subsequent investors
and eventually, the
whole thing falls
apart, and the last
people to invest get
hosed. And Social
Security - a program
I love - workers pay
for the benefits of
current retirees and
hope someday, that
future workers will
pay for their
benefits... It's a
total Ponzi scheme!
Some experts think
that Social Security
could go bust by
2042... Hey, that's
fine by me... Let
the young people pay
for my benefits and
the benefits of
other baby
boomers... The great
thing about a Ponzi
scheme is that the
people who get in
early win. With
Social Security,
that's people like
me, whether I'm
pretending to be a
spry 63-year-old
man, or using my
real age of 53.
Actually, in the
latter real case,
jeez, in 2042, I
could be cutting it
close...
Now, my 23-year-old
nephew, writer, and
a man who ends as
Cliff Mason, pointed
all of this out on
his blog... But he
seems to think that
this is a bad thing,
because people his
age are paying out
money they'll never
get back again...
Selfish!
Outrageous!...
Time to disown my
nephew tonight...
or, at least, his
Social Security
benefits... I mean,
it's not like a
great shot at seeing
them anyway... no
more than those who
bank with friend,
buddy, pal,
Madoff...
which led into Mad
Mail...
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See comments continued below...
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Wednesday,
December 17, 2008
(Cont'd from
above)...
Jim (cont'd):
Jim takes viewer
email questions and
answers them with
his opinions on
stocks, or alternate
stock picks...
below...
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Jim's
rating on
this stock |
STOCK
SYMBOL |
Closing
price that
day |
Full Company Name |
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na |
na |
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Email question about:
General question about
changing Jim's
prediction for a housing
market bottom...
Q:
If you change your mind
when the facts change,
as you said the other
day, can you explain how
your 6/30/09 housing
market recovery date has
not changed? Every
financial fact
fathomable has changed
since you set that date,
yet you have not changed
your mind. Please
explain.
Jim:
Well, that's because
it's right. Why should I
change it if it's going
to be right? When a
house falls 40% in
value, and mortgage
rates go down, that
house gets sold. That's
what's happening all
over the country. If
anything, I am beginning
to believe that my new
number is a little bit
more consensus like...
The CEO of Wells Fargo
the other day went with
me. It's getting
uncomfortable and
crowded in here.
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na |
na |
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Email question about:
General question about
getting short selling
information...
Q:
Where can the public get
the up-to-date figures
that you obtained
regarding short-selling
volume on any given
stock or ETF? The
published figures
usually refer to short
interest and are weeks
old. In this electronic
age, why isn't
short-selling volume
available on a daily
basis?
Jim:
I don't know. I have a
source. One of the
things that journalists
have are sources, and I
am, believe it or not,
yeah, a journalist!
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NAT |
35.37 |
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Email question about:
Nordic American Tanker (NAT)
Q:
You recently recommended
NAT with its high yield
and low P/E. Over the
past year, it has earned
$3.12 per share, while
paying out $4.89 per
share in dividends. A
similar situation exists
in
Diana Shipping (DSX),
which has earned $2.74
per share and paid out
$3.31 per share in the
past year. How can these
companies stay in
business while paying
out more than they earn
each year?
Jim:
Remember, we're looking
at cash flow... They pay
out of cash flow. They
don't necessarily pay
out of the final
earnings, okay. And NAT,
as I've mentioned over
and over again, which is
the absolute greatest
play on Contango...
Contango is when the out
months pay you much more
than the close months...
so it pays to rent a
Nordic American tanker,
and store oil for
February, and that's one
of the reasons why I'm
recommending NAT.
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na |
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Email question about:
Preparing for potential
tax-loss selling...
Q:
I've started building a
nice portfolio, buying
Cramer-faves like MO and
other cash heavy high
yielders on the down
days. I've made a nice
little chunk of change,
but am now scared to
death that, when the
hedge funds release
their statements on
December 31st, the
Redemption Song will be
blaring full blast and
bust my little honeypot
portfolio! Should I
sell, sell, sell on the
30th, just to buy, buy,
buy on the 2nd?
Jim:
No, I don't want you to.
I want you to have some
new money to be able to
put to work in January,
and buy them if the
hedge funds go wild
again.
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Read Jim's next Segment
here
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