Cramer.....the idiot

[Dawg52]

Saw this on Raddr's board. You wonder why any station carries his garbage.

YouTube - Jim Cramer: The Flip-Flop that Ought to be Illegal

 

[kumquat]

Saw a link at Financial Webring also. WTFC, anybody here listen to him?

 

[al_bundy]

used to watch him when he first came out because the show was so different than other financial shows. it was actually fun to watch. now i'm bored of it and he names off too many stocks to keep track of every show.

he's a pretty smart guy though, went from being homeless to being rich

 

[CCdaCE]

used to watch him when he first came out because the show was so different than other financial shows. it was actually fun to watch. now i'm bored of it and he names off too many stocks to keep track of every show.

he's a pretty smart guy though, went from being homeless to being rich

Smart? or Lucky? hmmm. I guess in my mind, if you're smart you never BECOME homeless to begin with.

heh.

-CC

 

[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

 

[REWahoo]

... and does some light work to get back to his journalism roots

"Journalism"? I think "entertainment" is a more accurate description of his program. The one time I suffered through a few minutes of his show I thought, "So this is what results when you combine CNBC and WWE Smackdown."

 

[ziggy29]

I thought Cramer was entertaining for a while, even if I never paid attention to his calls on the market. But after a while, it was the same old schtick and he started becoming a parody of himself.

 

[al_bundy]

"Journalism"? I think "entertainment" is a more accurate description of his program. The one time I suffered through a few minutes of his show I thought, "So this is what results when you combine CNBC and WWE Smackdown."

he did start out being a reporter for the LA Times. I think one of his first stories was some serial killer at the time.

if you compare his show to CNN or Fox News, there really isn't much difference

 

[TromboneAl]

Anyone with that much energy has to succeed at some point.

 

[REWahoo]

One reason I dislike Cramer is that I detest having someone scream at me, even on TV. I get enough of that at home...

 

[windsurf]

One reason I dislike Cramer is that I detest having someone scream at me, even on TV. I get enough of that at home...

I agree. I was a subscriber a few years ago and cancelled after realizing that he wasn't much beating indexing and, more specifically, when he was salivating over the anticipated "prosecution" of the present war and agressively recommending the stock of a bullet manufacturer.

 

[ziggy29]

I agree. I was a subscriber a few years ago and cancelled after realizing that he wasn't much beating indexing and, more specifically, when he was ... agressively recommending the stock of a bullet manufacturer.

His job is to look for stocks that will make money, not preach about social issues. Anyone who is into "socially responsible investing" is free to ignore the advice. As is anyone, actually.

 

[windsurf]

His job is to look for stocks that will make money, not preach about social issues. Anyone who is into "socially responsible investing" is free to ignore the advice. As is anyone, actually.

Precisely.

 

[cute fuzzy bunny]

I figured he was a comedian, not a financial guy. I mean, he's basically sam kinnisson and carrot top rolled into one. Screams, sound makers, little baseball bats.

 

[kcowan]

He gets paid $1.3 million to be an entertainer. As long as you follow his advice like you might follow advice from Robin Williams on investing, you should have some fun. ISTR his picks were studied and if you waited for the pop to be over, you could short the stock and make 10% consistently. Also 53% of his buy picks go down. These references are from my dim memory so YMMV.

 

[ziggy29]

Also 53% of his buy picks go down. These references are from my dim memory so YMMV.

But it's also important to remember that if you are a stock picker, if you know how to cut your losses short and ride your winners with appropriate trailing stops, you can be right less than half the time and still make a fair amount of money.

 

[Animorph]

He was pretty much responsible for boosting my company stock price and ESPP shares by a factor of 2x, while it lasted. That was pretty cool. So thanks Jim!

 

[Spanky]

He's really entertaining and energetic.

 

[Dawg52]

So, I guess the flip flops from one week to the next doesn't matter.

 

[Midpack]

So, I guess the flip flops from one week to the next doesn't matter.

It amazes me that anyone would watch someone with that kind of presentation style, even more amazing people would actually follow his recommendations. This video ought to convince people that he's really just an entertainer. But what's really amazing to me is that there is actually an audience for his show...

 

[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]

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