Not surprised at all. As poor a forecaster as he is, no wonder he'd come here for an education. Now, if the subject is selling cars or male enchancement tablets on TV, hands down he'd be the one to give the lessons. "Look at me" he's great at. Buy this stock, or sell that stock, he ain't. By the way, is he still underperforming the chimp, if you know? I know there's a website that monitors that contest. I'd say yes in view of his tout of CFC last year. That one alone would have blown up even a moderately aggressive trader.
You gave cramer way too much credit. The people that listen to him (other than for entertainment) wont cause a run on anything. Noone is blaming him for the bad call, it's just a dog&pony show like most tv financials, "the next big stock to move!" will always get viewers, even if every one of them turns out to be wrong, it would be all forgetten by next week and replaced with "the next big buyout stock!" etc... it's human nature to be curious and to keep drinking the media koolaid. Noone cares about the actual result, the tv networks knows it too. This thread is all about trying to bring oldtrader back to earth from his fantasy planet.
I can't say whether Cramer recommended BSC at some point. I don't watch the show, and don't pay much attention to Cramer one way or the other. I'm only referring to the video. In the video, I don't think he recommended the stock. That's my opinion. I also don't have a clue as to who or what the viewer was. From the video it appears to be someone worried about getting his money. That's what he says. And I might add, although this is not part of the video, it's clear that many were concerned about getting their money out of Bear. That was one of the factors at play in Bears situation. I would also say that it's hard to say who exactly watches Cramer. From various reports I see, some of these stocks react significantly when he mentions them, even those with some size. I assume that isn't caused by some guy buying 30 shares. Again, I'm no expert on Cramer. I'm only referring to the video in this thread. OldTrader
Who was it who said 'The mark of a true performer is the ability to change your opinion when presented with facts which contradict your original opinion, as opposed to stubbornly insisting that you're not wrong, not wrong, not wrong'. Or something like that.
You mean a "fact" like this: In this "fact" we take the word "liquidity", change the meaning, then change what he said. LOL! Or perhaps you mean a "fact" like this: In this fact we "assume" who had an account, what type of person he was, and whether he would call Cramer for an opinion. Of course, what is left out is the FACT that according to all published reports, there was significant withdrawals from Bear which was part of what later led to a liquidity crunch at Bear. In fact, Atticus cites a "fact" about SEC related accounts in which he states that no account has ever lost a dime, and that therefore, no one would be calling Cramer about this type of issue. Clearly, he "overlooks" the fact that accounts did withdraw money from Bear. In fact, I noticed in one thread where you yourself withdrew money from IB. Fear was widespread about the liquidity of brokers in the last several days. And therefore, should it come as any surprise that someone might address a question to Cramer? Be that as it may, I simply listened to the question, and read it in the box on the left of the video. I did not change the answer, assume who he was or wasn't, what he might have done or not done based on supposition. OldTrader
Just for the record, OldTrader is the very first person on ET that I've ever personally insulted. He initiated the personal attacks, but I should not have stooped to his level. I think the consensus is pretty clear on what Cramer meant when he made that call (and others) on BSC in the video in response to the question posed. And I think the consensus is absolutely correct, too. I did not know Cramer had specifically responded to this call and had tried to excuse it away as was mentioned (on Sirius, mentioned by HolyGrail). Cramer only makes himself look even more foolish (if that's possible) by trying to claim the same thing OldTrader has stated in this thread. I caught Jon Stewart, too, and thought it was pretty hilarious.
Senility? My earlier response: It's ludicrous to insinuate that his "liquidity" comment has anything to do with the ability of the caller to wire out. That's the problem -- $18B in wires going out in a single day. BSC NEVER halted client liquidations.
You missed my point. And frankly, it's not worth the effort to go back through this with you one more time. If you're interested, just re-read my posts. It's clear though that you have no ability to accurately READ or LISTEN, and then draw an appropriate conclusion. Just change everything around to suit your purposes. LOL! OldTrader
I think the consensus is clear too. Evidently that tells you one thing, it tells me another. But yeah, the consensus is definitely clear. OldTrader