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April 14, 2005
Cloudy Constellation revisited, Thurs., April 14, 2005, 4:47 PM
The recurring theme in this blog is that the sell-side media is full of hot air, and that includes the Kudlows and Cramers. Maybe you recall my article last Friday called Cloudy Constellation, when I wrote: " CNBC's Cramer has been touting Constellation Brands (NYSE: STZ @ $58.34) on his interesting MadMoney program. I'll take that trade; I say sell it!".
I even went a step further and said that if you wanted to buy a superior booze-maker, look to Diageo (NYSE: DEO @$59.59).
I went on to give a lot of good reasons before concluding that the market was a little risky at that point to be jumping into DEO; that I was just comparing the two stocks so that readers could see how much a windbag is this character JJC. Then I concluded that "maybe Ill just short STZ".
How did I do? Well, how do I (almost : -)) always do?
Today " just four trading sessions later " DEO closed $59.60, up 1 cent. STZ closed $57.00, down 2.3 percent. Ka-ching!
It's fun ringing the bell, but it's not easy walking the talk.
I don't envy the role Cramer is taking with MadMoney. He's a terrific entertainer, and he's doing a great job getting his audience involved in equity markets; but he's probably not batting more than .500, and in my book that's not good enough.
Posted by Posted by Bill Cara on April 14, 2005 04:47:49 PM | Category: 30 Consumer Staples , Cara Today in the Market
