Karen Finerman, Fast Money Fame, Is Not Doing Too Well On Crocs (CROX) and More
Earlier this week, Karen Finerman, said she bought Crocs (Nasdaq: CROX). Finerman said she thinks it is oversold and should be bought. She bought Crocs in the $48 price range; today it CROX is trading at $35. That is over a 27% loss for Karen Finerman\'s hedge fund.
Furthermore, a few months back, Karen Finerman said she owns Office Depot (NYSE: ODP) and it is a screaming buy when it was trading just above $30. Just days later, the stock was down over 30% and Office Depot is now trading at $16.78 today.
Lesson Learned: Be very careful at acting upon what you hear on tv. Previously, you would think that a hedge fund manager, who appears on tv, would have great contacts, and have more color on a specific trade, but I guess that is not the case.
J
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