Feb. 19, 2022
Here is the link.
CNBC's Jim Cramer joins 'Closing Bell' to discuss today's market activity, as well as Cathie Wood's interview on the 'Halftime Report' today.
Arguments:
- Terminal value investor?
- Blackjack - 51% vs 49%
- Judge her now ARKK stock
- Bet on innovations - traditional fund - all money pullout
- Technology - SEcurity analysis - Trader - Correct price, Kathy skipped 2 and 3
- 2000 - true believer - No bets on this
- No one can create market by herself
- Dislike the way it is bought
Arguments:
- near-term price doesn't matter
- bet on innovation
- The market is getting completely wrong
Open transcript
00:00
joining us now for more on all the
00:01
market action jim cramer jim it's always
00:03
great to get your thoughts what did you
00:06
well melissa today obviously just a
00:08
terrible day the juxtaposition of of
00:10
kathy wood on scott show with what
00:12
happened today and what will happen with
00:14
roku uh the ceo all very painful i think
00:17
it's painful because there's a lot of
00:18
new people have come in and you and i
00:20
have been around this and we know that
00:22
people tend to buy these very exciting
00:24
stories they bought excitement they
00:26
brought price to sales they bought
00:28
stories that sounded like you couldn't
00:30
uh you had the future and there you had
00:32
kathy wood and you you heard this sarah
00:34
she is giving you a view which just
00:37
near-term price doesn't matter but we
00:39
have people who are terminal by value
00:43
buyers who can't have that staying power
00:46
yes when you go to play blackjack at the
00:48
casino you're gonna it's 51.49 if you
00:50
hang on long enough but most people
00:52
can't and what we're seeing are people
00:55
are being blown out even if she's
00:57
soothing and i found it very disturbing
01:00
should we judge jim should we judge her
01:03
now i mean her highs and our etf was
01:06
february is it is the time frame too
01:07
short i understand your point i
01:09
understand that a lot of people have
01:10
lost a lot of hard-earned money but is
01:13
our time frame just too short to judge
01:16
you know a bet on innovation
01:18
i've been talking in many manners about
01:21
that and all of them said the same thing
01:24
which is that if it were a traditional
01:26
fund all the money would have been
01:28
pulled out because people can't afford
01:30
to lose that amount uh look i think that
01:33
innovation is a terrific thing but i
01:35
think that the way it should work is you
01:36
should have researched people and
01:38
and by the way i thought it was great
01:39
question my scottish and went fired you
01:41
said reachers people who are doing
01:43
technology and then it is given to
01:45
people who do securities analysis and
01:47
then it's given to a trader who tries to
01:49
figure out what's the correct price this
01:51
font this her she is just clearly
01:54
skipped step two and three and i don't
01:56
mean to i like what josh brown said i
01:58
have great respect for her but the fact
02:00
that i would never do this sarc this
02:02
short but but the fact is she's more
02:04
emblematic at the moment and we had
02:05
people were emblematic at the moment in
02:06
2000 and they are what i was just
02:08
telling the sarah green right true
02:10
believers and true believers are
02:11
terrific but melissa the problem is is
02:14
that as one of our guests said earlier
02:15
there are no bids for the true believers
02:17
the only real buyer of some of this
02:19
merchandise is kathy wood you cannot
02:22
create a market yourself nobody's that
02:24
big i do when i see her buying things i
02:27
am shocked at what she buys and how she
02:30
buys she buys like someone who just
02:32
started yesterday well but also i think
02:35
the structure of it she's an etf she has
02:37
to stay fully invested she has to keep
02:39
i mean the conviction i think is what
02:41
you're talking about so would you touch
02:42
any of these arc names i actually like
02:44
actually well okay so let's distinguish
02:46
i actually like some of these companies
02:48
i dislike the way they were bought and i
02:50
really hate something called ubers
02:54
hubris is horrendous okay
02:56
humility is important when i screw up on
02:59
something like when i screwed up on
03:01
paypal you always i own it i wear it i'm
03:03
furious of myself but i screwed up i
03:06
would never in a million years tell you
03:08
but you just wait you just wait sarah
03:10
because when that thing comes back who
03:12
the hell has the right to say that well
03:14
and she also says the market is getting
03:16
it completely wrong there is no such
03:18
thing as the market being completely
03:19
wrong the market is an assemblage of
03:22
tremendous minds getting together and
03:24
they you may think they're your weighing
03:26
machine voting machine that's all
03:28
nonsense the market is about trying to
03:31
minimize losses and make as much money
03:33
as possible that's what the market is
03:35
and if you don't think that minimized
03:37
losses means anything then you should
03:39
just be running your own money and
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