"There it is, the announcement everybody in the world knew about, 'Yahoo! to debut its auction site,'" I yelled when I saw the "news" hit the tape this morning. "This is incredibly telegraphed, and incredibly anticipated, and totally expected."
So, my trader says, "What do you want me to do?"
I look at him with my head askance, my arms lifted high, palms open, and say, "Get me every &$#&%#@^&@$%@ share of
you can, man -- this is
big net news
The upshot? We are already up 4 points on the trade.
Yeah, another week begins and the craziness continues unabated. Guys drone on about high multiples and sluggish earnings and missed expectations, and nobody listens. Why should they? Listening costs you money.
This weekend I spoke at a terrific
seminar at the behest of Jill Dutt, the most forward-thinking of the business editors out there today. I started by saying that when a Jints fan pays $700 million to buy the Redskins, who am I to criticize those buying Yahoo! up here -- especially when I am one of them!!
What a time. Makes me think of that old
Hill Street Blues
scene with the sergeant warning the troops, "Be careful out there." Except if that show were about the market and not about street crime, maybe, just maybe he would say, "Don't be careful out there." A mantra for the late '90s on
: What will those advertising guys think of next? I'm not talking about dalmations, I am talking about that Van Gogh ear ad of
. Pretty ugly but effective. ... Those who read my
piece on Friday, the one in which once-faithful reader
got praised for her upgrade, will be thrilled to know that
Steve Milunovich just upgraded the name.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At the time of publication the fund was long Hewlett-Packard and Yahoo!, though positions can 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.