Readers, relent! I love technology. I just want to make money and not lose money. That's my motivation for not being in Intel (INTC) - Get Report from 133 to 110. You see, contrary to what many other people might think about the stock market, I regard it as a place to make money and NOT lose money.
It is my career, it is how I am paid, and I am not paid if I don't make money. That's why I find it odd to read people saying, "Cramer's lost his mind by being so bearish on tech." To me, I just simply wanted to avoid losing lots of money by being caught in a
or Intel vortex.
And I did.
Some of you have very conflicting aims that must be resolved. You want me to get you out of Intel but keep you in Intel. You want me to get you out of the Net, but keep you in the Net. I don't want to do anything other than tell you what I am seeing. I don't want to get you in and out of anything.
Ultimately, I want to perform. If I stayed in Intel for this decline, I am going to get another
New York Times
article knocking me for crummy performance, and I am not going to make any money. It is that simple. I am not a Luddite or a bear. I am a business athlete who doesn't want to be tagged out or fumble.
So, stop emailing me already about what a bozo I am to have sold the personal computer companies 'cause in retrospect, it was one of the great trades of my lifetime.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At the time of publication, his fund had no positions in the stocks mentioned, though positions 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 by sending an email to firstname.lastname@example.org.