Logan Mohtashami vs Jim Cramer (2011 housing call)
January 25, 2011 8:07 AM
AN INVITATION FOR MR CRAMER
President Obama had his “Beer Summit.” I would like to offer Jim Cramer of
CNBC’s Mad Money, a “Philly Cheese Steak Sandwich Summit” !
Jim Cramer, of CNBC ‘s Mad Money , was visibly upset by gloomy real estate
bears who had predicted a dismal 2010. Now that the actual year over year
increase in home prices of 0.3 per cent has been published, Cramer wants the
bears to be held accountable and to issue apologies to the American people for
their doom and gloom prognosis.
Will they? Would he? Would I?
At the beginning of 2010 I was yet to be published, though my colleagues
would vouch that I predicted the market would be up 2% or down 2%. I thought
the billions of dollars poured in the market to get rates super low would spur some home buying.
I also thought the tax credit would give a short-term boost to home purchases. However
there is not a public record of me having said so. Therefore, I cannot answer
Mr. Jim Cramer’s challenge for this year.
Going forward , however, my positions and predictions are and will be public
record. Therefore, I challenge Mr Cramer, gentleman to gentleman, to compare
our predictions for this coming year at the end of 2011. He has stated his in
an emotionally charged display last week. I have stated mine on Benzinga.com
with my 2011 predictions article. I predicted a 3-7% decline in home prices for 2011.
If I am wrong, I will gladly buy Mr Cramer a Philly Steak Sandwich and publicly
apologize in an article to Mr Cramer and the American people for a bad forecast.
If I am right, and Mr Cramer is wrong, he should do the same.
I look forward to the first bite!