Welcome to Inverse Cramer by Alts.co: Tracking Jim Cramer’s stock picks so you can do the opposite.
- See fund performance and holdings (SJIM and LJIM)
- Read past issues
- Sign up for the Inverse Cramer newsletter
A big Booyah to the 612 new subscribers who’ve joined since last week.
What a week it’s been. Apologies for the crass headline, but boy did Cramer make a bad call on SVB. Like really bad.
Back in February (just one month ago!), Cramer was pounding his viewers to buy SVB. He told everyone that Silicon Valley bank was undervalued!
The fears are not justified, it’s a very compelling situation…The stock is still cheap…it has always been a very good business…and it has room to run.
We usually try to keep things light in this newsletter, but this is serious business. As of this writing it looks like SVB depositors will be okay, but investors may very likely get hosed in what is the 2nd largest bank failure in US history.
And if you listened to Cramer’s advice, you’d be one of them.
JC was on vacation Monday & Tuesday, but by Friday his voice was gone and he looked like death. (Poor guy needs to take another vacation…his 5th of the year. Why not.)
Wednesday Mar 8
Thursday Mar 9
March 10, 2023
The “Spanish Laughing Guy” meme is always appropriate in times like these.
(Note: The actual guy’s name was Juan Joya Borja. He recently passed away )
Classic Cramer missing Tesla both ways😂 pic.twitter.com/7J2JNvlsdb— Inverse Cramer (Not Jim Cramer) (@CramerTracker) March 9, 2023
Friday Mar 10
Friday was the big day. Cramer looked (and sounded) miserable. I almost felt bad for him.
He said that SVB’s collapse could be the thing that keeps the Fed from wrecking the entire economy.
Which, depending on where you stand, could either be the best or worst possible thing he could say.
Jim Cramer said Silicon Valley Bank was a buy last month at $320— Inverse Cramer (Not Jim Cramer) (@CramerTracker) March 10, 2023
Today it is being closed by California regulators pic.twitter.com/x1xMBTrQTS
The thing that really amazes us though is the total lack of hindsight.
No mea culpa. No “sorry guys, I was wrong! Here’s what I missed when analyzing SVB.”
He just carries on like he wasn’t completely and utterly pumping the stock last month.
I like Jason, and yes we should all be kind (and stay calm)
But whooboy — that was a bold tweet.
Note: The SVB Twitter account no longer exists . The FDIC works in overdrive.
That’s a wrap. As always, we’ll be following Cramer’s every move so you can do the opposite.
Enjoy the week ahead.