Cramer Falters With Cisco

But now he's looking to buy back what he sold.
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We blinked. We sold some Cisco (CSCO) - Get Report because we were worried they overpaid. We just put pen to paper and didn't like the valuation. Then, of course, the deeper we dug, the more we realized that this made sense, maybe even at this price. (Thanks Mr. Seymour for helping us.)

Now I feel paralyzed. I want to buy some of the stock back but I don't know if it will come in. I am completely tortured by this. Not like bamboo-splints-under-the-fingernails tortured. More like I-can't-believe-I-doubted-

Chambers

-will-he-ever-

forgive-me tortured.

Feels the same in my book.

Come on, knock it down. Let me back in.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Cisco. 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

jjcletters@thestreet.com.