good cramer video to watch.

You should read his older book: "confessions of a street addict". Cramer gives quite a bit of detail on how this all worked. It's one of my favorite trading books.

 

Dave Faber would break his 'tips' all the time.

What a beautiful advantage to have, huh?

"Hey, I heard a thing from a guy who knows this VP of development at ACME, and they're releasing an a new Blackberry killer app in 5 weeks...."

 

“I was saying – I have to show you the scams that other people do,” Cramer told Imus. “I have to show you how Wall Street really works. I didn’t say it right. I have to get better at saying it. I did not do the stuff. But I didn’t say it right.”
(...)

“I was a jerk about that (poster: calling Pisani to drop rumors) too,” Cramer told Imus. “I should have said – guys call me all the time and say – listen Cramer, there is bad news coming at Motorola. I impugned him (Pisani). That was another mistake...I screwed up in saying that stuff about him.”

http://www.corporatecrimereporter.com/imus032207.htm


umm...there's no way THIS part of it could be screwed up:

"A lot of times when I was short at my hedge fund...meaning I needed a stock down, I would create a level of activity beforehand that could drive the futures"...

"It might cost me $15 million or $20 million to knock RIM down but it would be fabulous because it would beleaguer all the moron longs who are also keying on Research In Motion,"

mind you, there's no way he's going to jail. or even a fine, or even a wet noodle on the wrist. but each time something like this comes out (and it wasn't 'broken' by the ny post, or even me - i saw it elsewhere, and it had been out a week or so beforehand) it knocks a little chink in the armor of the great "expert".

 

The video is 2 months old and as already mentioned it's not really anything new from him. Calling him a douchebag for doing it is anyone's prerogative, but don't think he's the only one by a long shot, plenty of manipulation still going on.

 

Absolutely! You would be an idiot to believe that this doesn't go on till this day in some form or another. That being said, I think the definition of pure irony is that he was running Spitzer's money. Spitzer was out trying to stop stuff like this & then Cramer was pulling this. Hilarious!