Mad Mail: "Stop Beating Yourself Up On NYX!"
Dear Jim: Stop beating yourself up on NYSE Euronext . When I made my initial purchase, my timing couldn't have been any worse: I bought in at the absolute top of $109 per share. HOWEVER, in addition to following your stock recommendation, I also followed your general advice NOT TO BUY ALL AT ONCE. I averaged down all the way to the bottom, and now have an average cost basis of $74 per share. I'm in the black and looking forward to a nice gain. Thanks for the lessons even more than the stock picks. --Charles
Cramer says: “You did it right but I can’t ask everybody to do it right.” The NYX pick has been bad so far although Cramer plans on sticking with it. The financials of the company are good but the stock just won’t perform, he said. “I blew it and that’s what matters to me.”
Dear Jim: Recently, a 46-year veteran engineer of Boeing claimed the company’s 787 “Dreamliner” was unsafe. But now, this has completely dropped out of the news. When I read this, and read that Dan Rather was going to interview the guy, I sold BA. What happened? When potentially devastating news like this hits and a stock drops sharply, how do we know when to hold or get out? --Chas
Cramer says: “I totally believe in Boeing. I think it’s going to $120. I have the highest confidence they wouldn’t put out a commercial jetliner that would have anything other than the best safety record possible.”
Dear Jim: My wife Shelly and I enjoyed meeting you at USC on 9/7. I’m writing to share some great news with you - you have another fan! Joseph Andrew Woore (aka “JAWs”) was born the following Monday, 9/10. Being a proud papa, I’ve got to share with you some photos: When I told Joseph that I’d be dropping you a line, he said to be sure to thank you for the bull you autographed to him. Thanks for the inspiration, Jim. --Michael
Cramer says: “Michael, it was great to see you. The USC trip was great. Don’t forget we’re going to Georgia Tech [on October 18].”
Dear Jim: I have been a long-time investor in Siemens and have been rewarded for it. These restructuring talks scare me. Is it time to bail out on Siemens? What are your thoughts? --Kevin
Cramer says:“I recommended it too early. Don’t sell it here.” He called Siemens a “great company” in “great shape.”
Jim's charitable trust owns NYSE Euronext.
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