Cramer was bullish on Bear

bear cramer jim stearns

No, no, no. Bear Stearns is fine. Do not take your money out. Bear Stearns is not in trouble. If anything, they’re more likely to be taken over. Don’t move your money from Bear. That’s just being silly. Don’t be silly.
Of course there’s no way to know what that investor wound up doing, but last Tuesday Bear Stearns was still trading for $68.24. At last check it’s at $4.57. J.P. Morgan has agreed to buy it for $2 a share. Unfortunately, there’s no law against loudmouths who make all kinds of declarations that turn out to be sooooo wrong.

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This entry was posted on Monday, March 17th, 2008 at 2:14 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

7 Responses to “Cramer was bullish on Bear”

  1. Kaylie says on March 17th, 2008 at 3:24 pm :

    it’s not about wealth, it’s about ownership…how would you like it if your neighbor came to your house and started tearing down walls because he felt like remodeling. you’d feel pretty upset wouldn’t you because he doesn’t own your house. same idea with stock ownership: people who own more of the company have more say. the fact that stocks have monetary value doesn’t change the underlying principle of ownership.

  2. Mort says on March 17th, 2008 at 4:14 pm :

    $2/share isn’t the bailout. The $30 billion credit line that allows that $2/share to be remotely competitive is the bailout.

  3. Pauleen says on March 17th, 2008 at 5:05 pm :

    I saw soo much news on Bear Sterns last week. Didn’t the Fed issue a loan through JP Morgan Chase to Bear Sterns last week?Seems like there were loopholes set up everywhere.

  4. Franklin says on March 17th, 2008 at 5:55 pm :

    wah wah wah how am I going to pay for my three super yachts and the helicopter I fly to them? wahhhh.

  5. Mitch says on March 17th, 2008 at 6:46 pm :

    I think you missed what I was saying. Since the fed is private, the title is inaccurate.

  6. Coreen says on March 17th, 2008 at 7:36 pm :

    i can run a major us company into the ground for the fire sale price of $116 million.