NEW YORK (Real Money) -- Took some heat yesterday on Twitter about how I had called the bottom in Tesla's (TSLA) stock when I referred to Anton Wahlman's piece talking about how BMW might be starting to crowd Tesla's turf. You know, the usual chatter about so and so knows better than me or that I'm no good because I pointed out the risk to Tesla's stock.
Welcome to the beat-up-Jim-Cramer-because-we-know-he-actually-reads-his-tweets club.
You know what? I am sick of it. Sick of the whole idea that somehow, after getting people in for 150 points and for people thanking me for putting them in Tesla -- they put themselves in, for the record, but they credit me -- I have to listen to these knaves and mountebanks tell me that I don't know what I am doing with Tesla.
Now, I am not going to trash individuals who go after me, in part because I don't have the time, but in part because they don't even deserve ignominious recognition.After the run we have had, after all of the points I stayed bullish about even when almost everyone wavered, I don't want those gains given back. What have we learned since the top of the Nasdaq in the first week of March? I think we've learned that there are plenty of ways, legitimate, terrific ways to make money in stocks that are valued reasonably. We don't have to own the stocks that are valued only on revenues or some arcane metric that only works for that industry. The indices are almost back to where they were when the market took its header. The stocks that traded on enterprise value vs. sales are making nice comebacks. I think that's terrific. I am thrilled for the shareholders of these. I am not a tool of the shorts who begrudge these gains. I am simply someone who says, "OK, we tasted some brutal losses, we took our licks, we didn't get blown out -- and I hope you didn't -- but it is time to tighten the risk parameters and stop trying to shoot the lights out with stocks such as Tesla." Sure, if you want to own some Tesla I am not going to stop you. If you want to buy some Amazon (AMZN), I say fine. I get that. But I do not want to stand behind these stocks anymore and defend them when they go down. I want to just tell people that look, they are cult stocks, they have their own momentum and their own set of rules, and I don't want to be responsible for people losing money in them. I am willing to miss the upside because I do not easily forget what we just went through before the expensive stocks righted themselves. If that is wrong, if I have to stand behind every darned stock that goes higher in big increments because of news events and flash, then I am not value-added at all. I am just a gunner like all of the guys gunning for me. Lots of times this job is no fun whatsoever. When it is at its worst is when people hate me for suggesting stocks that go down that I want to buy more of and not cut and run. When they bounce back, I then have a terrific basis for a good run. But with the cult stocks? I don't want to tell you to buy them when they are weak because they lack the underpinnings to tell me when to buy more. They are now coming back. I think it is luck. I simply don't want to press it anymore. Action Alerts PLUS, which Cramer co-manages as a charitable trust, has no positions in the stocks mentioned. Editor's Note: This article was originally published at 6:14 a.m. EDT on Real Money on June 17. Priceline Was a Winner for Investors Even Before OpenTable United Pilots: We Flew to Chengdu on a 787 and Loved It
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