Matt "I'm Better than Buffett -- Jimmy Buffett" Jacobs
Jeff "Better than Graham -- Kent Graham" Berkowitz
were marvelling at the decline in
Matt's theory was that it doesn't matter that Berkshire Hathaway goes down pretty much every day -- it is "financially incorrect" to say anything negative about the "Informix of Omaha" (Matt thinks it is a travesty to confuse Buffett with the red-hot B2B play that he used to be known as).
So immediately (in case they thought I was listening), they stipulated that Buffett is the greatest investor ever, even if Berkshire drops another 50%. In fact, they are standing over me now demanding that I write that the
machine is simply printing out the chart since November
In truth, I think the reason why this stock is going down is because of Berkshire's buy of
. As someone who is long
, I can tell you that these stocks could pull down any portfolio, but especially one dominated by
Join the discussion on
In other words, Buffet not only has no
and the other rockets, it owns the ballast. A veritable double-whammy!
That doesn't mean he isn't the best that has ever lived. It does mean that I would stay away from the stock.
: Some bogus story about accounting changes at Cisco gets passed off as journalism and the stock gets hit for a nanosecond. Thanks for the opportunity! ... Join me for the
chat after the bell.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long AIG, Cisco, Nokia, Yahoo! and Sun Microsystems. 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