I've watched Cramer's show on occasion. When he bashed the insiders and talked about the underhanded stunts they pull I found it educational in understanding the mindset of the type. His stock picks and advice are a totally different matter - his buy recommendations are more likely an indicator to sell than anything else. His credibility is non-existent with me, and if any of you have any doubts, look at this garbage and see what you think:
Cramer called Lenny Dykstra one of the great stock pickers of all time and said he was one of a few people whose advice he would take on a stock pick:
Wow. Now the world watches as Dykstra self-destructs and drags others with him - he even screwed his mom out of $23,000 grand. Truth is far stranger than fiction:
Nails takes major pounding: Ex-Met Lenny Dykstra's fortune, marriage and business rep flame out
YOU THINK YOUR JOB SUCKS? TRY WORKING FOR LENNY DYKSTRA: GQ Features on men.style.com
A really long article at ESPN that goes into detail: Mike Fish: Lenny Dykstra's dream of high life and finance takes faith tough as 'Nails' - ESPN
Cramer has his own Philly roots -- he worked as a vendor in the early '70s at Veterans Stadium, where the Phillies played. He liked Dykstra's celebrity and his options tips -- which by Dykstra's estimate generated $3 million in subscriber fees last year for TheStreet.com -- so much that he promoted him as "one of the great ones in this business."
Cramer has had his own problems recently, including a much-publicized debate with late-night comedian Jon Stewart over some of Cramer's market calls over the past years. Perhaps understandably, he wasn't interested in embroiling himself in the state of Dykstra's affairs right now.
"I think I'm going to take a break from the old interview game for a while," Cramer e-mailed in response to an ESPN.com request for comment. "It hasn't been all that productive for me of late."
In a follow-up request, Cramer wrote this about Dykstra: "His option picks have been very good. But he works for thestreet.com and reports to Dave Morrow, editor in chief. That's my relationship. That is my answer. There is no reason to comment further. And I thank you for your time."
If Cramer says the sun is shining in a cloudless sky you better grab an umbrella before going outside.