Cramer.....the idiot

[MichaelB]

Wonder what they will do next when his ratings lag. Cheerleaders? Strippers? Both?? Maybe the financial gong show. Maybe even an investing reality show, with real personal tragedy, seniors losing their pensions and savings, and so on.

All this show does is reinforce the notion that ratings is the real objective and investing is just the means to that end...

[cute fuzzy bunny]

Quote:

Originally Posted by MichaelB Wonder what they will do next when his ratings lag. Cheerleaders? Strippers? Both??

Well then, maybe I'd watch his show. With the volume turned off.

The stripper/cheerleaders thing worked for Penn and Tellers show when the ratings dipped.

[windsurf]

The tragedy is that people gain a sense of confidence by listening to his advice, the voice of a pundit, a self-proclaimed expert who is going to tell them how to beat the market and get rich. The false confidence substitutes for judgement. They buy things that they shouldn't and very often get hurt. Many probably get hurt BAD.

[mickeyd]

I also used to watch Cramer for entertainment only. I was impressed by his "knowledge of the market." I have wised up and can not take even a minute of his babbling now.

I now waste my time watching King of the Hill. Dale is my favorite character.

[Free To Canoe]

I liked his book Real Money. The book has an interesting perspective even though his background is law and not finance.
His TV show is repulsive.

Free...to Canoe

[ERD50]

Quote:

Originally Posted by al_bundy he made more money in stocks than almost everyone here, has a graduate degree from one of the top schools in the US, worked for the top investment banking firm in the world, built 2 businesses, and is now semi-retired and does some light work to get back to his journalism roots

Really? I don't doubt that he is smart - but I don't think that anybody who *is* smart would watch his show for financial advice:

wiki: Jim Cramer - Wikipedia, the free encyclopedia

Quote:

In May 2008, a review by CXO Advisory showed that Cramer's stock picks have done worse than the market averages.[34]

Quote:

In February 2000, Cramer proclaimed that Internet-related companies "are the only ones worth owning right now." These "winners of the new world," as he called them, "are the only ones that are going higher consistently in good days and bad".[27]

Quote:

Investor Cramer obtained employment in 1984 as a stock broker in Goldman Sachs' Sales & Trading department. Cramer's success in this position led him to fund his own hedge fund, Cramer & Co. (later Cramer, Berkowitz, & Co.) in 1987. The fund operated out of the offices of hedge fund pioneer Michael Steinhardt's Steinhardt, Fine, Berkowitz & Co., and early investors included Eliot Spitzer (a Harvard classmate and one of his oldest friends) [8], Steven Brill, and Martin Peretz.[1] Despite claims of high returns, Cramer's hedge fund has never produced audited proof of their stated returns. Cramer, Berkowitz, & Co. invested heavily in Zubaz at the peak of its popularity in 1992. Unfortunately the timing of purchase couldn't have been worse, as the popularity of the "tiger striped" pants declined rapidly. Cramer, Berkowitz, & Co. lost untold amounts of capital.

Very simple question: Does the show provide any sort of actual total return information, based on his recommendations? W/O that, there is no reason to take his financial advice seriously, as they don't. End of story for me.



Entertainment? Not for me, but to each his own. Financial advice - Stick with the Ouija Board.



-ERD50

[Spanky]

Here is an article about Cramer's picks :

Shorting Cramer - Barrons.com