Thursday, December 21, 2006

What!!??

Just read Seeking Alpha's recap of Cramer's mad money show last night - Cramer says that Circuit City is done for and that Best Buy is eating their lunch on the same product.

What he doesn't say is that the same products at Circuit City cost less than at Best Buy because these two stores are in direct competition with one another in the consumer entertainment market.

I know that the same product (exact make and model) costs less because I have comparison shopped using the net. I'm in the market for a large, flat screen television. I'm holding out because I believe that prices are going to come down hard during pre-Super Bowl - post Christmas bust out sales. In the meantime I've been comparison shopping across every venue known to man looking for the absolute rock bottom deal.

I use bizrate.com for such comparisons because I have found that they have a good search engine and manage to cover the marketplace like a carpet. Then they have a great comparison window too and when you make a selection they give you all the stores, both on-line and sticks and bricks within a 20 mile radius, whether the product is in stock, shipping costs and so on.

Anyway this is the problem with Cramer - he makes pronouncements out of his butt and people take it as gospel. Do your own DD but I wouldn't write CC off anytime soon.

I neither own nor plan to own CC shares either now or anytime in the near future.

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