Gary McCamey

FGIC Split: Let the Lawsuits Begin II

I'm confused, I don't understand. Could someone explain this Ambac, MBIA thing to me in a simple, say, 10th. grade explanation. I read an article by a guy called Cramer, Jim I think, and he said the stock he picked to be stock of the year in 2008, is Ambac. About a week later I read another article by him in which he stated if he owned Ambac, MBIA, and a couple of more companies, (he wrote), if I owned them today I'd sell them and go fishing. Now, he's an analyst isn't he? I know he writes an article, or articles. Did I misunderstand something he wrote, did he say one week that Ambac would in his opinion be the stock of the year in 2008, and then a week later did he write if he owned them he'd sell them? Please, I'm confused. If the business world is as confused as Mr. Cramer, (that is, if I understood the words coming out of his typewriter), then I can understand why things are in such a mess. I'm only thankful that I ignored his advice, and I bought a little company that cost me .31 cents a share, and I did buy a bunch. It was TTGLE, and a week later, well Monday, or day before yesterday it touched .84 cents a share. Hee,hee, I think I figured it out. Buy a stock that nobody knows nothing about, and that no analyst writes a word about it. When the analyst and the writers and all the others get involved with a company, a person doesn't know who/what to believe. Yes, I sold and did very well.
I can't help but laugh. I swear! I've been saying for years ignore the analyst, people like that Bahailia who is an analyst for Citigroup. He stated Etrade would have a high of around $4.50 for the year, and that very day I think, I sold shares of Etrade for right at $5.00/sh. I've forgotten the exact amounts, but you know, I don't think it's figuring out which analyst is right, but it's figuring out which ones are honest and who is not being paid to write bad things about good companies. I may be stupid, but I'm the one whose made over 100% profit for 2008 already.
Mr. Cramer, I appreciate your articles I get, but you did confuse me with that change of pace. Of course, you might have been making a joke meaning, the market is such a mess you'd rather sell everything and go fishing. Many people who read these articles don't think with a business mind, therefore, sometimes it's hard to understand what point is trying to be made. Just out of curiosity, in very simple terms, will Ambac be a stock to buy in 2008, or not. Thank you. Gary

I have no respect for Bahalia, but I do appreciate your opinions Mr. Cramer. Bahalia was so obvious that he was trying to damage Etrade, that it really irritated me to see him hurt a lot of people like me who depend on opinions of (hopefully), honest men.