The Pain of a Missed Short

Cramer just didn't have the staying power to remain short on Reuters. Plus, some feedback on <I>TSC's</I> Portfolio Tracker.
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Oh, is this Reuters (RTRSY) painful. I was short this thing all last year, confident that it would get its butt kicked from its strategy of giving away its $1,500 a month product to Yahoo! (YHOO) for free. I also figured that the euro would lead to less FX biz ultimately and that Instinet would get its head handed to it by all of the ECNs that seem to spring up like dandelions on my beautiful Summit, N.J., lawn.

Cramer's Latest: Join the discussion on

TSC

Message Boards. But Reuters was in total denial last year, saying that all of these things I was worried about were poppycock. It talked a big game, saying that these caveats wouldn't matter because things are so robust everywhere and the strategies were brilliant and proactive. They were masters of the cyberuniverse with a British accent.

I covered the short the way shorts covered

IBM

(IBM) - Get Report

ahead of that Jim Dandy

quarter just reported. I lost a fortune. I got whamma-jamma'd by a bullish management.

Now I am reading over all of the statements and the

First Call

notes. I was right as rain. The thing sounds awful. But I didn't have the staying power to stay short it. I am furious at myself for covering when I had the kahuna in my sights.

This is not a new experience with me. I am weakest at investment shorts. I like trading shorts. I hate it when the big shorts go against me.

Ironically, this was the strongest attribute of my wife's trading prowess. She would "put them out" forever. She never feared the squeeze or the bogus rally.

She would be drinking champagne right now with this stock down 9. Days like today, I do miss working with her.

Random musings:

I have been tooting this

Portfolio Tracker horn all

morning. I got a couple of people saying that

Microsoft's

(MSFT) - Get Report

is still better, something I disagree with but goads me into goading our team to higher heights.

This just came in, because I believe you should see some good mail. Heaven knows you have heard about the bad stuff:

Dear Jim, Have to disagree with you; the portfolio tracker is not fantastic ... it is SPECTACULAR!! I've never used one before -- figured it was too much bother; my computer literacy is barely above clicking the on/off buttons -- but TSC's was really easy to use, nice graphics and very easy to glance at the information you want to see. Not a lot of clutter that often confuses newbies to the online, computer, Web world. My father -- who is drowning in paper statements from multiple brokerage firms -- saw it and said it was a revelation. ... Keep up the great work and relay my congrats to the TSC Portfolio Tracker Analytics folks who designed the site. Regards,
Frank

Couldn't agree more, Frank. We have a fabulous tech team to thank.

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