"I was in touch with management," he says."I did all the work. I looked at all the [company's] filings. And I just kept buying it and buying it and buying it, thinking, you know what? What's the worst that happens?"Memorex Telex was simply not performing. As Cramer later recalled, the company had a"compelling story" but its technology"was simply outmoded and, in the end, there was nothing there.
"I realized it was time to stop because it was going to zero and I wanted to be able to get some sort of capital out of it before it went to zero," says Cramer, who cashed out his holdings for a fraction of the initial purchase price. Later, in 1996, Memorex Telex's stock value was completely wiped out when the company went back into bankruptcy a second time. What was left was then sold in pieces to subsidiaries of other companies."It was the worst percentage loss I've ever had," says Cramer.
As Cramer has written before, the Memorex Telex experience taught him a valuable lesson:"When you have a low-priced stock, don't think to yourself, 'How much more can I lose?' You can still lose everything."
jimcramer MakeIt Boeing and Disney May be?
jimcramer MakeIt Just like Frontier Communication (FTR).
jimcramer MakeIt The list of candidates for this list is a long one. Cramer is absolutely awful at picking stocks. I still remember him pounding the table on Sears Holdings and writing the $SHLD ticker on his knuckles, though. 🤦
jimcramer MakeIt Are you talking about your homemade moonshine tequila?
jimcramer MakeIt I feel your pain, in the 80s I lost at least $10K in penny stocks thinking I could get rich. Buy crap, get crap.
jimcramer MakeIt
jimcramer MakeIt Never considered the strategy of simply shorting whatever Cramer is bullish on.
jimcramer MakeIt Remember folks most of the stocks these criminal cnbc boiler room carnival barkers were all hyping last year daily, are all down 60% or more today, beware of taking free financial advice from clowns
jimcramer MakeIt OK Bobcat.
jimcramer MakeIt Literally every call he has ever made has been the worst investment ever for all cnbc viewers
jimcramer MakeIt (s) Plural
jimcramer MakeIt It’s PayPal or Boeing
jimcramer MakeIt His hair stylist?
jimcramer MakeIt I'd be more interested in the worst advice he has given 🤣
jimcramer MakeIt 🤡🤡🤡
jimcramer MakeIt
jimcramer MakeIt That is Louis CK
jimcramer MakeIt He should consider just buying spy. He's not doing well with selection.
jimcramer MakeIt The worst investment is investing in Jim Cramers stocks and recommendations. Write about that, CNBC!
jimcramer MakeIt You are an Investment disaster .
jimcramer MakeIt Bear Stearns is fine FU Cramer
jimcramer MakeIt A few of em:
jimcramer MakeIt Jim Cramer means well.
jimcramer MakeIt All of them?
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