I'm long TheStreet.com (TSCM). And I'm starting to think that I'm dead wrong. Latest two quarters were just so-so. Web site, after latest redesign, stinks. It's not that there is one or two things which are wrong with it, I can't name one thing which is right. Advertising model is intrusive and looks obsolete. Sister sites are nothing to right home about. Stockpickr.com might me close to be OK, if not for web site design, which is close to TheStreet.com design and sucks the same. MainStreet.com: who cares? Bankingmyway.com? Maybe OK, but can it make any money? Or bring users to other sites to make money? Because, in the end, business is about making money.
I bought TSCM in order to cash on Jim Cramer. Unfortunately, he is either neglecting his responsibilities as a director and biggest shareholder, or just doesn't understand how to build financial web site. The former would be bad, the latter, pathetic. I understand that Jim is up to his eyeballs in Mad Money and all conflicts of interest between CNBC and TSCM, but he has no right to sit aside while TSCM becomes irrelevant. I was reading it a lot before, now I only read Mad Money recaps and Doug Kass articles. Sometimes there is other interesting stuff, but it's close impossible to find. Quite often I read some article after finding it on Yahoo! Finance or on Google.
I'm going to wait a little bit. If things don't start to improve, I will have to dump my position.
Full disclosure: at the time of publication author had a long position in TSCM and doesn't have any positions in other companies mentioned in this article. Positions can change any time.
Disclaimer: This article is not intended as an investment advice. Every person should make her/his own investment decisions based on all available information and advice from her/his own financial advisor.
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2 comments:
Used to check out tscm on a regular basis. Since they upgraded the site I almost never go there for the same reasons you discussed. Cannot find anything. Also the site is for ididots now. You always have to filter some inane video rather than reading some insightful column. Have not checked out if Cramer reduced or sold his position but this greyhound has turned into a mutt.
Cramer sold some, exercised some options. Last two records in his insider information shown as "Acquisition (non-open market) at $0". Probably some kind of bonus.
You can see his transactions here.
In the end, his position increased in the last several months.
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