wonder why CNBC always states that: "the opinions given here might have already been dissemminated before airing this presentation" hmmmmm
I propose the following preamble: "the public may be inseminated by the rantings of the following egomaniac"
CNBC has become ridiculous. Cramer isn't even the worst of it. Tuesday morning, Ron Insana was on the floor of the NYSE, pre-market open. He is interviewing a floor broker for Jeffries. Ron Insana asks him "Is the decline over" referring to Monday's decline. The guy says "no, the market will decline more today, Energy will be weak, tech will be weak, only Chemical stocks will be strong". Now here is a guy who KNOWS damn well what's going to happen, more or less, based on his knowledge of the order flow (that's why Insana is interviewing him). Well, the market went up, Tech & Energy stocks spiked and Chemical stocks tanked. CNBC is owned by Dow Jones, and GE owns them both. GE is heavily involved in finance, and I think they are making a bundle fading the public via CNBC. CNBC should be taken of the air, imo.:eek: :eek: :eek:
Are you sure GE owns DJ? DJ is a public company, and articles about GE in the WSJ and Marketwatch don't contain any disclaimers about it having any ownership stake.
In some cases, the companies he's pumping have already been mentioned that day on his radio show or on RealMoney. It also seems that the callers they get during the first segment, which always appear to be apropos to the stock or sector he just pumped, are recruited from RealMoney readers. Aside from that, the disclaimer is literally true. The show starts taping at 4:30, and callers can listen to it while on hold. They reportedly have to agree not to act on what they hear until the show is aired, but see http://www.forbes.com/management/2005/08/18/cramer-cnbc-madmoney-cz_pl_0819cramer.html for what can actually happen.
Here is some info direct from Yahoo finance about GE "Through its affiliate, NBC Universal, Inc., General Electric produces and delivers network television services and motion pictures, as well as operates television stations, cable/satellite networks, theme parks, and program activities in multimedia and the Internet. Through another affiliate, General Electric Capital Services, Inc., it offers an array of financial and other services, including consumer financing, commercial and industrial financing, real estate financing, asset management and leasing, mortgage services, consumer savings and insurance services, and reinsurance." NBC is the parent of CNBC. I have heard them many times referring to Dow Jones & GE as their parent companies. There is even a cnbc dow jones website, that provides financial videos, it's cnbcdowjones.com
Well, OK. I knew that GE owned NBC (and CNBC), but I've always heard CNBC refer to DJ as their "partner", never their "parent".
http://www.vmsdigital.com/MyFiles.aspx?Onum=E1E241F9-8B8E-4C97-B6B5-89D12F5F9FC4 clip from Don Imus. Second half interesting.
but so true, you can't trust the info most traders receive always old...best most can do is try and catch the train at the next station.. ie. cramers pump and dump goldman sach buy along with ? cramer pumps and now today goldman warns about mrvl problems and the stock drops... goldman is one of the largest share holders in this stock...is the analysis from goldman -honest? with his report or is it in reality them? taking profits as the stock is about to split giving them a better opportunity to re-enter.?? after all Cramer wouldn't know what Goldman Sach does or wants to do? wait didn't he pump goldman's stock which in many cases is one of the largest shareholders in the stocks hi pumps and didn't they just make the largest profit? chance??? w