Suddenly there's a lot of ways to lose in the Red Hots. Many are burning cash at a furious rate, no kidding, but when it is presented as starkly as it was in Barron's, it's awful.

The ones that aren't burning cash are issuing shares at breakneck speed. Or buying companies with their newly minted market caps.

Or recognizing revenues that shouldn't be recognized.

That's why we keep coming back to the old techs, the ones with multiples (only those real darlings, the ones with no revenue, don't have to worry about revenue recognition, jokes

Matt "Don't Call Me Mister" Jacobs

) and the ones with experience at reporting earnings.

From the looks of my screen, others have a similar viewpoint.

Who needs


(MSTR) - Get Report

when you can own


(INTC) - Get Report

, with rising earnings, rising revenue and an accounting team that would repel armor-piercing shells from the


, the


and just about anybody that matters?

James J. Cramer is manager of a hedge fund and co-founder of At time of publication, his fund was long Intel. Cramer's fund also may be long or short certain stocks in his biotech or B2B rotisserie leagues or New Tech 30 index. His fund often buys and sells securities that are the subject of his columns, both before and after the columns are published, and the positions that his fund takes may change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he invites you to comment on his column at