Cramer's Mea Culpa Stock Picks
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Date updated:05-10-2008

During this week, Cramer has talked about some of his blown calls and used them as a vehicle to help viewers learn from his mistakes.

symbol name last price % change open
  • +
  • GOOG
    Google
  • $581.00
  • +0.82%
  • $579.00

Cramer apologized to viewers for staying too negative, too long on Comcast (CMCSA) and missing the bottom in the stock. In an effort to have viewers learn from his mistakes, Cramer said that he was too focused on Verizon (VZ) and AT&T (T), and mistakenly thought that additions of subscribers at those companies were coming at the expense of Comcast. In reality, this was not the case.

People owning GOOG also tend to own: AAPLAMDCSCODELLIBMINTCMSFT

TheStreet.com Rating: B What is this?

  • +
  • CMCSA
    Comcast Cp A
  • $22.54
  • +0.76%
  • $22.24

Cramer apologized to viewers for staying too negative, too long on Comcast (CMCSA) and missing the bottom in the stock. In an effort to have viewers learn from his mistakes, Cramer said that he was too focused on Verizon (VZ) and AT&T (T), and mistakenly thought that additions of subscribers at those companies were coming at the expense of Comcast. In reality, this was not the case.

People owning CMCSA also tend to own: CHDT.OBQMARRSFF.OBTWXWSDT.PKAAPLADBE

TheStreet.com Rating: B- What is this?

  • +
  • SGP
    Schering Plough C
  • $19.42
  • -0.87%
  • $19.60

"But my real mistake was greed," said Cramer. Despite recommending Schering at $16, he did not take a profit when the stock hit $31. Cramer said that rule No. 1 in his book is and always will be "bulls make money, bears make money, but pigs get slaughtered." Going forward, Cramer said Schering-Plough is a buy at these prices. He said the company is much more diversified than it previously was and feels that such hostile negative news won't be repeated.

People owning SGP also tend to own: ABTAGNBMYBRLCEPHENDPFRX

TheStreet.com Rating: C- What is this?

  • +
  • COH
    Coach Inc
  • $37.45
  • +1.08%
  • $37.07

How could Cramer get this stock so wrong? For starters, he listened to the media. A lot of hype surrounded a supposed inventory glut that was hurting Coach’s ability to get its luxury handbags and accessories off its shelves. But after doing a little homework, Cramer realized that the company’s inventory has stayed steady and the whole thing ended up being a non-issue. He should have trusted CEO Lew Frankfort when he said on Mad Money that a bad quarter was a one time thing and promised that he would deliver. If you’d listened to him, you would’ve caught a double in the stock.

People owning COH also tend to own: AMTANFAVIDCNOCOSTESIEXPD

TheStreet.com Rating: C- What is this?

  • +
  • CLR
    Continental Resrc
  • $28.86
  • -1.50%
  • $29.51

When it came down to it, Cramer didn’t follow one of his own fundamental rules. When you believe in a basic theory about a stock, the price should become inconsequential, he said. The wise move on Continental would have been to put even a tiny position on and buy more if it came down. But Cramer was too cautious, sitting on the sidelines even though the stock’s story was nothing but bullish. While Cramer hates to recommend a stock at its high, he’s convinced that as long as oil and gas stay strong, Continental should continue higher. He’d put on a small position and wait for a pullback to buy more.

People owning CLR also tend to own: AKAMARAYAUAYIBAABRCMCRNT

TheStreet.com Rating: No Rating What is this?

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