You have to be pretty old to remember this, but before Cramer there was Dan Dorfman on CNBC (early 90s), and he used to come out touting stocks in such a similar way to Cramer. Don't exactly remember the outcome, but there was a federal probe into his pushing stocks around for profit and they took him down. We can only hope Cramer goes the same way.
http://dummyspots.com/jim-cramer-dan-dorfman-and-history-repeating-itself/ Wow! I googled Dan Dorfman. Interesting -- and BTW I'm 41, is that "pretty old"?
Oh wow, great link you found. Figured other people out there had to be seeing the resemblance also. 41 doesn't seem old in the normal world, but have found that in the trading world and on these boards there are a lot of young 20-somethings, so here I think we are dinosaurs.
Not according to the Wiki: http://en.wikipedia.org/wiki/Dan_Dorfman It was nuts when Dorfman would pick a stock and it would immediately pop. He was way more entertaining than Cramer.
cramer is slippery. nothing has ever stuck to him. even with all the youtubes showing his bad advice he is stronger and louder than ever. funny thing. we know that many people have been crushed by his advice but i still have never heard a negitive caller on his show.somehow he screens them out.
Dorfman was a buffoon. I think that's why he got off easy. Guys would write "reports", load up on the options, and then fax to Dan. Internet was only at Gore's house. this was 92/3. He, at least I believe, thought he was doing everybody a service. Little did he know, he was being serviced. we are all a bit wiser now, aren't we?
I wonder if that's also why Cramer's show is after the market, Dorfman used to do it midday which would immediately have that impact on the stock. There were also times Dorfman would crush a stock by saying negative things about it. I agree he was more entertaining, I was actually kind of bummed when they pulled him off the air, was a fun side show act to watch. If they pull Cramer I will throw a party, can't stand watching him.
His show is taped prior to airing. I'm sure the producers actually call the "callers" from a list like on Suze Orman......Did I just admit watching Suze Orman?? :eek: