After being torn apart on comedy central you'd think CNBC would take a bit of advice and actually try and give financial advice that could help the average person. But at the same time... if you got most of your advice from CNBC... hopefully you learned a lesson? If some guy is yelling at me on TV and throws stuffed animals and makes funny sounds..... why would i bet my future goals/plans etc. on any of his advice? In one way or another idiots will get scammed, someone else will pick up where Cramer left off. If there's any guaranteed way to lose money in the markets it would have to be by listening to other people and spending no time validating their advice.
I little history lesson. At one early point I was pretty pro Cramer, mostly based on his writing , but even some of the show, not all. I said this in early 2006 04-11-06 11:01 PM " Quote from lilduckling: WHAT???? were you not one of his biggest supporters??? You always talked good about him and now this?!? " That's right. That was also some time ago before he descended into the current buffoonery. You see, I had detected all along the 'wisdom' part. But somehow, the huge ego , absurd theatrics, playing to bimbos and wannabee college goofs, became the focus. I am a trader. Traders change with the market. Short Cramer.
Smart guy just opining Cramer will be done w/i a couple of months. Ge can't afford him in this environment, and I don't mean monetarily. You know his name is being used in vain at Corp Hdqs.
It is not the critic who counts. Nor the one who points out how the strong man stumbles or the doer of deeds could have done better. I donât really listen to Cramer much. But Iâm really getting sick of people responsible for nothing running their mouth into a microphone and thinking they know everything. Isnât it so easy for Stewart to run his mouth about all of Cramerâs mistakes when he doesnât make any calls himself? He pulled out every bad clip possible and used it out of context. Did he play the clip when Cramer said if you need your money in the next 5 years to sell now â back when the Dow was at 12,000? Of course not. I have heard Cramer admit when he made bad calls. Several months ago I heard him telling people to get out of bank stocks months ago when many were still in the 20âs and teens. And lastly, he successfully ran his own hedge fund for several years. Has any commentator done that? Iâm not defending him, but allowing blame for the quarterback for throwing an interception and not pointing out that the commentator is just blabbing into a microphone is stupid.
It's pretty simple. Cramer should be investigated and then indicted for market manipulation. His "successful" hedge fund was built on using any means necessary, including illegal tactics that he stupidly admitted to, on video. He was so arrogant that he thought he could brag for one moment in time and didn't he think he would get caught. Stewart's interview had him choking on his own lies. <object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/ZWVmlxhk-tU&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/ZWVmlxhk-tU&hl=en&fs=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object>
Cramer had better get lawyered up..... Loose Lips....... By rights,, CNBC need to show him the door...contract or no contract for their own credibility otherwise they are in effect condoning his past behaviour ,which seems to be,at least, morally wrong and unethical at best...
Well said. If being an "expert" was in itself a salvation from the ravages of randomness then we'd see Billy Packer sitting in a Vegas casino making billions betting on NCAA games. Once again not to be a prick-which I am-but many people on this thread just don't get it. By mere virtue of the blame climate being in place-and that the market anticipated the high tax/anti-capitalism culture ahead of time is why sellers overwhelmed buyers the past four months. Those of you applauding Stewart are stuck in the minutia. The "story" isn't Cramer being a tool, that's a given. The real story is that the MSM even cares about this Stewart vs. Cramer showdown. Lest any of you forget this started out as Stewart going after Santelli. Why did Stewart take on Rick? Because Santelli dared to oppose the trillion dollar "stimulus". Cramer is the sideshow. The war against anti big government speculators is the Main Event. The Obama administration publicly criticized Santelli and days later Stewart goes after Santelli. Not cool unless you happen to be some totalitarian, socialist fuck who condones the media segueing from watchdog to Obama mouthpiece As a few of you know I'm starting a live video fund. My biggest play will be shorting Treasury securities. No need to rehash the reasons-they're obvious. But on a macro level I'm preemptively scared for my safety and freedom for being known as an outspoken critic of Big Brother. Mark my words if ZB futures trade 65 we'll see Congressional witch hunts targeting those "anti-patriots" who sold out the "American people" by profiting on Treasury shorts. So while it's fine to think the Stewart bit was funny and that Cramer "got what he deserves" look beyond the comedy at the big picture. A leftest comic went after Rick Santelli because Santelli opposed an Obama policy initiative. If you're a trader, a capitalist and in opposition to creeping socialism then you'd best move beyond laughing at Stewart and his ilk and begin fearing them.
Cramer wasn't prepared and got sidewacked with old clips. He should have said that the purpose of the stock market is not speculation but for corporations to raise money so they can invest ,expand and employ. For all its volatility the market has been the grandest idea of capitalism. It has created 100's of millions of jobs across the world. This system has allowed corporations to raise capitol mostly free of the tyranny of Government. Capitol raised from the public so that the best interests of society are a factor in the exercise of commerce. Capitol gains and dividends are the incentive for public investment. The protection of the public comes from the price of stock. If the public is unhappy the price goes down. When the price goes down the individual needs to decide the next action. The individual will look to CNBC and listen to CEO explain the low price. He will also listen to the anchor. The only fact is the current price of a stock, everything else is just opinion. Would Stewart blame Cramer for not telling him to buy Ford at $1 if in 3 years Ford is at $20. Why would Stewert blame CNBC for not telling him to sell before the drop. He complains that the public was told to buy all the way down. I can't see a conspiracy here. Not when Buffet loses 25 billion and we lose 200 billionaires. Very few CEO's walked away with ill gotten millions, only those that were grand-fathered going into this market drop. This is what Cramer should have said if this debate was to be about capitalism and not populism