âWhy does everybody hate me?â The Wall Street maniac explains his critics, the market, and himself. http://nymag.com/news/features/32382/
Because Cramer stock picks su*k! Maybe he should combine them with some market timing advice, or better yet, only offer market timing.
I didn't happen to read the article. Does he say anything about (or does anyone here know) whether he's restricted from frontrunning stocks he mentions on his show? Unless he is, his "advice" is purely promotion.
I like Cramer. He has youthful enthusiasm and loves what he does. He literally went from homeless to running a hedge fund, the American dream personified. Anybody who achieves a significant level of success is going to be hated, especially by those who have not achieved success. Cramer not only made money for himself, he made a name for himself, and anybody who makes a name for themselves is automatically indicted for egotism. Cramer has achieved immortality by branding himself, most of his critics will live and die in anonymity. But his stock picks do suck. He used to have a radio show that I listened to on my way in to work, (it got canceled). Most of his picks did nothing, one of them, BKHM, tanked horribly in April of 06. He never mentioned it again after that.
After reading Confession of Street Addict and listening to Cramer's interview about stock manipulation, it does not take long to figure out that he was the creature of his times. In the 80s and up to mid 90s it was mostly insider info and some of his own manipulation that made him money. Then came .com, and he was seasoned enough to know what will happen after the bubble bursts. You gotta admire an guy like him, even though you might not like him.
why... ... because there was a day I was short 10k of MU and he started spouting off about it at 3:00pm. The stock promply went up 30 cents... that's why.... now, having said that, I still tune in sometimes to Mad Money just to see what's up. I think the market has priced this guy in.
"I think the market has priced this guy in." Interesting comment. It does seem to explain the price action on some of his picks.
After reading his first book "confession of a street addict", I got the impression that he basically traded on inside information. However, recently I read his other book "real money", and realized that this guy does have a lot of insight and a lot of experience going for him
The guy threw in the towel at exactly the same time as Reg FD came into play. Buying ahead of the public by paying the sell-side was his only game. The fact remains that the guy is a breakeven stock-picker now that his little "edge" is gone. These days he simply seeks validation from the same constituency that he knows he fleeced. The guy is a putz through and through and he should be shunned.