An open letter to Vince MacMahon of
World Wrestling Federation Entertainment
You want your stock to go up forever? You want Wall Street to give you the multiple that you probably do deserve because of your ability to figure out what some of the public wants better than anyone else in the U.S.?
Let me give you a tip: Go hire someone who will talk to Wall Street for you. Otherwise your candor and your, well, arrogance, will be used as a club against you.
Why do I care? Because a lot of people, a lot of good people, own your stock. It is probably the most requested call-in stock that I get asked about. And I want to say good things because, personally, I think football could be made for you guys. But you
botched that whole intro and killed your stock because you, of all people, presented it badly.
You think I don't know what I am talking about? Why don't you go ask Steve Wynn? For years his outfit was plagued by an underperforming stock, even though I think we can all stipulate that Wynn's a pretty bright guy. But he didn't handle the Street well. Just like you. He looked around though and found a terrific guy, a
Credit Suisse First Boston
gaming analyst, and brought him in to talk to the Street and explain the
The rest was juicy stock market history. Wynn's stock skyrocketed until the gaming guy left. And then it has all been downhill. He wouldn't be in this "fix," and I say fix with quotes because he owns the control stock anyway, if he hadn't lost his Wall Street faceman.
Look, Wall Street likes brash guys who make the numbers -- and you made the numbers big-time
yesterday. But it hates to be told to kiss butt, which is, actually, what you said. Stay out of that line of fire. Get yourself a good guy from the Street whom everybody loves and it will be "price target 50" at every major house.
I don't know if you subscribe to
or not, but, believe me, you will want to buy a million subscriptions to
RealMoney and take out a bunch of advertising to thank me if you just listen to this advice.
Thanks Vince. And congratulations on a good quarter.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. 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