now treading water, up no more than 0.6% for the year, it is time to praise somebody who got it right whom I knocked.
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When I used to be on
-- before the program director decided otherwise -- I used to see Ralph Bloch in the green room. The
analyst is always a joy, a pure joy, one of those characters who reminds me about the good side of this business: people with outsized personalities who can still tell a good yarn and don't take themselves so seriously that you think you are working at a law firm.
Ralph told me to look out below, that we were headed back to 10,000 on the
I was dismissive, I liked the tape. All summer and fall he stuck by his guns repeatedly pointing out the weaknesses of this market, despite his generally jolly disposition.
I was wrong about Ralph. He got it right. While there are plenty of people taking potshots at the Acamporas for being too flip-floppy and the Cohens for being too obliviously consistent, I just thought I should take a moment to point out that Bloch has every right to ask me to eat my hat -- if I wore one. Instead, I will doff my virtual hat to him and I await his next call now that we are where he said we were going to go.
I know by pointing this out I will open myself to a new onslaught of Cramer bashers on the boards, but I don't give a &^$*$&. Bloch was right, and he deserves the praise that comes from being right. I am giving it to him. Nice going, Ralph! Now come on our TV show and let me have it in person!
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund had no positions in any stocks mentioned. 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