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Isn't It Ironic

Nope. As an investment thesis, irony doesn't work, Cramer says.

Irony is not an investing principle. Irony is not an investing principle. Irony is not an investing principle.

I have to repeat that three times because I find that those who think irony is the key to an investing strategy are particularly dense.

I just visited the Cramer's Latest boards on our new message-board system because I wanted to see the feedback to my recent four-part

series about value vs. growth investing.

I don't visit there very much because it is controlled by a handful of Cramer haters who I don't have time for -- I am too busy trying to make money for my partners and for my readers. If I bothered to respond to every cheap shot posted on those boards I would fail in my central mission of trying to help people make money. (It ain't charity: If I make money for others I make money for myself.)

Of course, I think that is often the goal of these critics. To which I say, over my dead body.

But that doesn't mean I can't respond here. The general tone of the critics is that if I am saying that it may be the death knell of value investing, then it per se has to be the beginning of the value-investing comeback. Why? Because it would be ironic. And irony works as an investment thesis.

Oops, critics, I have bad news for you.

First, I have been railing against the value guys for two years, so if you believe in this kind of thesis, you would have shorted the


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, the

Nasdaq 100

tracking stock, 100 points ago. And you would have been buried alive in

Philip Morris

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and a bunch of illiquid S&Ls.

Second, if you want to take the other side of my trade, you know I am thrilled to have you. I need the liquidity. And as it says in


, we have compounded 30% after all fees, so be my guest.

Finally, irony is a literary principle. It works swell in

O. Henry

, and pretty good in

Guy de Maupassant


But as a way of making money, it has never been a bellwether. What makes you money, what always makes you money, is buying the right stocks and selling the losers. If you want to be contrarian to that view, I can't help you.

Random musings

: We are going to post our biotech draft-pick pool -- the ones we will take -- on our new message boards tomorrow so we can solicit your views. I am sure glad we have ticker boards as I found the old pages impossible to navigate.

James J. Cramer is manager of a hedge fund and co-founder of 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