The shame of it. The shame of all of these
Cisco (CSCO Quote - Cramer on CSCO - Stock Picks) downgrades now. The embarrassment of it. What were these analysts thinking? How many times did John Chambers have to tell you things were bad? Heck, he told you on
CNBC if you missed him in any of the conferences! He let it be known about the spending freezes. He let it be known that the telco thing was going to hit him right in the kisser.
If Wall Street research were worth its mettle, today would be the day where these analysts would be
upgrading the stock from weak hold to strong hold, or even weak buy, because they would have been in a position to take some action that could actually help you. As it is, they are just sitting on their thumbs, lookin' real stupid. When we think of what these people are paid and what they do for us we really have to rethink the whole model. For months you have heard the drumbeat in
RealMoney.com that you couldn't own this one. We cost almost nothing.
For months these multimillionaire analysts told you to stay long Cisco. Now they are telling you to go. Makes me sick. Makes me want to tell you to buy it just for the symmetry of it. But I can't. I like other stuff too much and this one not enough.Still, I wonder how these souls can look themselves in the mirror this morning. This news was right there in their faces!! Even if they had just read us here at this site! Pathetic, just pathetic.
Jim Cramer
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