The Bears Are Who We Thought They Were!

Posted by Keith Hahn, Aug 06, 2007, 10:27am

In case you missed the Crameruption on Friday:

Cramer’s main points:

-The Bear guys should shut their dirty, whorish mouths
-Bernanke should get on a Bear Stearns call and stop being an “academic”
-But, Bernanke has “NO IDEA!”
-People talk to Jim Cramer, especially in the last 72 hours
-It’s bad out there, contrary to the Jim Cramer of 3 weeks ago, who was saying CDO holders would be made whole and calling for buys in the financial sector
-The Fed is asleep!
-Jim Cramer worked in fixed income at Goldman Sachs, which is like having a pair of scissors made out of paper-covered rocks and trumps any other form of argument or rational thought
-Jim Cramer knows too many people and is too darn old
-So old, that he knows of a President named Hoover

0Recommend this! 43Comments
Posted in: Ben Bernanke, CBOT, CNBC, Fed

Comments

Posted by Series7.5, Aug 06, 2007 10:34AM

"-Jim Cramer worked in fixed income at Goldman Sachs, which is like having a pair of scissors made out of paper-covered rocks and trumps any other form of argument or rational thought "

brilliant, so true

Posted by Dennis Green, Aug 06, 2007 10:35AM

Good one KH!

Posted by LippyTex, Aug 06, 2007 10:41AM

HBS Booyahs for the GS fixed income comment!! Right on the money!!!

Posted by Former Eye-Patch Wearing Joker, Aug 06, 2007 10:54AM

I hate him, anyone else?

Posted by Dan Drofman, Aug 06, 2007 10:55AM

I don't hate him, I just wish he'd stop screaming when he's on TV.

Posted by Jan, Aug 06, 2007 10:59AM

I think he sucks.

Posted by , Aug 06, 2007 11:05AM

Who is Ron Paul?!

Posted by inIT4the$, Aug 06, 2007 11:07AM

nice one Keith

Posted by Random Banker, Aug 06, 2007 11:13AM

Cramer is actually a good investor, his on screen antics are a little unbearable but alas, we are not his target audience. At any rate, I miss his old radio show where the commentary was twice as good and screaming with 1/10th as frequent... mean while how many times do you think he's done Erin Burnett... i'm thinking twice... maybe 3 times.

Posted by Former Eye-Patch Wearing Joker, Aug 06, 2007 11:17AM

Research done on his stock picks has actually shown that he is wrong quite a bit more than he is right. As for Erin, I hope she'd stick to a higher class guy....Rick Santelli anyone?

Posted by Former Eye-Patch Wearing Joker, Aug 06, 2007 11:19AM

I wanted to share my associate's opinion after I asked him if Cramer was on drugs noting that rates do not need to be dropped.

"I like how he refers to the stock market as "out there," as if white
collar traders losing a couple percent is somewhat tantamount to
soldiers fighting in a war. And a rate decrease would at best be a
temporary fix, which would set us up for another, steeper decline in the
future... at which point cramer would argue the rate needs to go to LESS
than 0%. Conclusion: yes cramer is on drugs."

Posted by , Aug 06, 2007 11:33AM

LOUUUD NOISES!!!!

Posted by Random Banker, Aug 06, 2007 11:37AM

Eye-Patch Wearing Joker: The problem with "research" done on cramer's stock picks is that the research don't understand them, or him, and most likely they can't invest their way out of a paper back otherwise they wouldn't be doing "Research".

Cramer's picks have to be taken for what they some times he has a well researched trend that in spirit of Peter Lynch that I would never have exposure to Crocs... for exams.... plastics shoes... what's the deal with that anyway? This something he is a trend he has done significant analysiss on You can't compare that with when someone calls up and asks how do you feel about Joe's boat company and Cramers says... well they have a PE of 7x and they're growing at 15% a year BUY BUY BUY. One opinion is worth more than the other just based on the amount of analysis done but the researchers who follow the show don't take context into consideration. Cramer should be used like a good stock screener he constantly track huge number of stocks and lead you ideas that you wouldn't normally find yourself. Then you do your own analysis and decided whether this idea is worth while Also his insight into the buying and selling patter of institutional investors is also quite useful to those of us from the corporate finance side of the business.

All that being said, the real proof is in his track record at Cramer Berkowitz you don't perform that well for that long if you're incompetent.

Posted by HKP, Aug 06, 2007 11:40AM

Why do people pay attention to this charlatan?

(I think he meant RuPaul.

Posted by Random Banker, Aug 06, 2007 11:43AM

You type like a jackass and it's not hard to surround yourself with smart people and look smart

Posted by Former Eye-Patch Wearing Joker, Aug 06, 2007 11:47AM

Random Banker:

I second Random Banker (part deux?) that you type like a jackass and that Cramer may just know a lot of smart people. More so, Cramer shouldn't go blowing his buy buy buy horn to people's life savings if he hasn't done the research and doesn't know the real story....that's typical Wall St. "screw the consumer" bull

Posted by Finbar Taggit, Aug 06, 2007 11:51AM

Cramer is a local - has he ever left the USA? Does he have a passport?

Doesn't he realise the USD is falling fast and rates need to be increased rapidly, not cut.

Posted by Former Eye-Patch Wearing Joker, Aug 06, 2007 11:56AM

Shhh, I am an expat currently working in London (paid in £), dropping rates and killign the dollar works for meeee

Posted by huh?, Aug 06, 2007 11:58AM

For God's sake man, it's only money.

Posted by duck!, Aug 06, 2007 12:04PM

cramer's wife was the brains at C-B cramer was the ears & mouth ... btw her last great trade was shorting cramer

Posted by Lee D, Aug 06, 2007 12:15PM

I don't understand why CNBC's wardrobe department chose to dress her up like a giraffe that day.

Posted by anne winn, Aug 06, 2007 12:46PM

Ron Paul is not the six foot three drag queen. He is the only Republican presidential candidate worth voting for.

Congressman Paul's grasp of the massive fraud perpetrated on the American pulbic and his willingness to discuss it is enough to make him universally dispised by political hacks and corporate jackles alike.

Posted by Ajax, Aug 06, 2007 1:22PM

#1, exchange rate policy is not part of the Fed's mandate; FX is the responsibility of the Treas. Dept.

#2, with the U.S.'s budget and trade deficits, the fall of the dollar is exactly what should be happening.

Posted by Ajax, Aug 06, 2007 1:36PM

anne's a perfect example of the loony lefties who like ron paul. why don't you ask your boy about the 400mm in earmarks he's requested for wild shrimp farms in galveston?

also, it seems most ron paul fans have trouble with eighth-grade spelling (dispised? jackles?). ron paul probably thinks the Trilateral Council and Illuminati are really pulling the strings in the administration.

Posted by de Cosmos, Aug 06, 2007 1:39PM

Does all this mean it isn't contained?

Posted by HKP, Aug 06, 2007 1:40PM

No, I'm pretty sure he meant RuPaul.

Posted by slimjim, Aug 06, 2007 1:47PM

I think anne serviced me last time I went to the run-n-tug in Hartford. Great bbbj

Posted by , Aug 06, 2007 1:53PM

As long as RuPaul/RonPaul votes against Grassley's legislation to tax my carry at ordinary income instead of capital gains, I'll vote for him.

Posted by Anono, Aug 06, 2007 2:41PM

Anoymous 1:52,

Schumer is going to kill that bill. You are safe.

Posted by Random Banker, Aug 06, 2007 3:40PM

I do type like a jackass... i normally proof read but am busy today.

Posted by jt, Aug 06, 2007 4:07PM

any guesses on Cramer's blood pressure?

Posted by dennis gren, Aug 06, 2007 4:10PM

great title btw

Posted by Janus Daniels, Aug 06, 2007 4:15PM

Ron Paul is the only R candidate remotely honest about attacking\occupying Iraq, and therefor the only one who can be even remotely honest about economics.

Posted by Janus Daniels, Aug 06, 2007 4:15PM

Ron Paul is the only R candidate remotely honest about attacking\occupying Iraq, and therefor the only one who can be even remotely honest about economics.

Posted by Endtimes Jones, Aug 06, 2007 4:17PM

May the US economy collapse completely soon!

Posted by Calgary Schmooze, Aug 06, 2007 4:34PM

The reporting of Cramer's blood pressure requires the use of a large metric prefix.

Posted by Sherwood, Aug 06, 2007 5:59PM

Ron Paul will never be President because we could never pay enough money to buy his support and thus have him in our pocket.

Those candidates who refuse to submit and support us will never see a nickel of our money, and cannot win without it.

Sorry RuPaul.

Posted by DutchessOfDerivatives, Aug 07, 2007 1:24AM

"Research done on his stock picks has actually shown that he is wrong quite a bit more than he is right. As for Erin, I hope she'd stick to a higher class guy....Rick Santelli anyone?"

Rick Santelli is a nasty slob.. trust me, i know.

No better than Cramer.

Posted by peter, Aug 07, 2007 2:17AM

Bernanke is going to let the dollar collapse. How else will they introduce our new currency: the "Amero"

Posted by Bend5, Aug 07, 2007 7:59AM

Cramer was just upset he blew up along with everyone who called him.

Posted by Ajax, Aug 07, 2007 1:16PM

Some no-name congressman is supposed to have the answers on Iraq? All that time on the Financial Services Cmte will come in handy in trying to solve the problems of the Middle East. There is zero chance this guy can distinguish Sunni from Shiite Islam. In fact, both parties should ban these fringe jokers from the debates and let the top 3-4 have a more useful discussion for the American public.

Posted by anon, Aug 08, 2007 1:17PM

"I don't understand why CNBC's wardrobe department chose to dress her up like a giraffe that day."

Because Cramer is a zoo animal?

Posted by kw, Aug 08, 2007 9:00PM

Cramer's excitement can definitely go over the edge sometimes. You have to filter it out and listen to the content of his message.
The Fed has been too slow to increase / decrease interest rates which is evident when you look at a plot of fed funds rate by quarter fior past 7 years. An interest rate decrease might be warranted to keep further ARM's from going into default. Speculative housing investments in coastal areas (e.g. Florida) have been reduced which is good.

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