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Meeting and Beating the Press

Cramer knows why so many people hate the press, and he examines a recent article to see what he could have lost by listening to its advice.
Author:

Have B2B e-commerce stocks hit a wall? Are these stocks "running out of steam"?

Relax. Don't panic. That's just lil' ol' me quoting from a

Barron's Online

Weekday Trader piece that appeared a week ago. It was one of those

Barron's Online

pieces meant to have impact. It would have scared the daylights out of all but the most rose-colored-glasses-wearing investors. It would have panicked you out.

Join the discussion on

Cramer's Latest, go to the

Red Hots Forum

, or visit our

B2B Forum

. My B2B rotisserie league

team, meanwhile, has moved up 18% since its inception a week ago. If you had bought my team the day that

Barron's Online

tried to scare you out of the selections, you would have made a fortune.

That's how it is with much of the press. What's really pathetic is that you won't see a follow-up saying, "Hey, maybe we were early." It is just on to the next story.

You know why people hate the press? 'Cause it is mean. (See

Gary B. Smith's

excellent

piece this morning.) Because it is arrogant. Because it never admits it is wrong. Because it has cost you more money than all of the hurricanes have cost the insurance companies, to name one casualty list.

That's one of the reasons why I refuse to even regard us as "the press."

That connotes an image, to me, of "Get out of your B2B before it is too late, you silly little public nobodies." To me, that sub rosa text of much of the press is "We will do our duty to keep the playing field uneven and tilted toward the big institutions and the wealthy."

And which stocks in particular did the

Barron's Online

story suggest you sell? How about

Ariba

(ARBA)

,

TheStreet Recommends

Sycamore

(SCMR)

,

Red Hat

(RHAT)

and

Vignette

(VIGN)

.

Pretty funny.

Random musings:

Thanks again to the good folks on the Ariba

board. Tremendous discussions going on in some of these B2B and ticker boards. And we're working on better organization to make it easier to find things ... Bad luck of the draw: Matt could have gone to

Portal Software

(PRSF)

(which we own and

Barron's Online

must really hate 'cause it is way up) or

Active Software

(ASWX)

. By choosing to know more about an existing name, we missed an opportunity to capture 15 points of a new name! May we all recognize that this is a very special, wild moment in stocks and know that it can't last forever. But in the interim, it is simply unbelievable. ... Hope you took advantage of that

Nokia

(NOK) - Get Report

call with me. We picked up a cool 10 points off that one.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Ariba, Red Hat, Portal Software and Nokia. Cramer's fund also may be long or short certain stocks in his B2B rotisserie league or Red Hot 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

jjcletters@thestreet.com.

As originally published this story contained an error. Please see

Corrections and Clarifications.