The New York Times is (appropriately) rough with Cramer today. I don’t spend a lot of time watching Cramer, so I feel sure someone will tell me why a picture of Lenin is in the background. (A hommage to Paulson, perhaps?)
…Jim Cramer, the happy warrior who cheered the Dow on his cable show surrounded by his menagerie of stuffed animals, sound effects and bobble-heads has traded the pom-poms for a votive candle, praying that the market finds a way to right itself — and maybe restore some of the luster to his chosen profession.
After years of selling the stock market as a reliable path to riches, Mr. Cramer came in for some brutal criticism recently from viewers and competitors.
Indeed. To wit: Apparently, that central authority of business journalism excellence, Fox, has been taking steely advantage of the situation. (Much as you hate them, you have to love them).
Fox Business Network, sensing an opportunity to tweak CNBC, has developed print and broadcast ads that take ripe aim at Mr. Cramer, saying, “The last thing you need is bad advice. The last thing you need is Jim Cramer.” To add insult to injury, Fox bought local time on CNBC — beating up Mr. Cramer on his own network. (Nice touch, that.)
Jim Cramer Retreats Along With The Dow [The New York Times]
Jim Cramer used to be a leftist according to wikipedia:
Cramer graduated magna cum laude from Harvard College in 1977 where he was also president of the Harvard Crimson. At this point in his life, Cramer was a staunch leftist, naming his plan to revitalize the Crimson after Lenin’s “What Is To Be Done?”.[4] Today, an iconic painting of the Bolshevik leader can be seen in the background of the set of his show, “Mad Money.” In 1983, while bed-ridden with the mumps for over 3 months, he took an even greater interest in the stock market, as all he could do was read the papers.
Who the fuck at CNBC sold that commercial to FBN? I dont care how desperate for advertisers you are, that person better be fired.
Bulls make money, Bears make money and pigs get slaughtered. Personally I love this market and hope it never ends. People just don’t get Cramer, he did in fact say to sell on the way up. Guess what he’s wrong more than 50% of the time, but the point is to lose little and win big, through risk management, reading his first book this becomes clear. Do that and you don’t need to be right all that often.
I just wish he’d stop blaming credit default swaps for the banks poor lending practices. CDS traders did not force countrywide to mortgage everything that was and was not nailed down, and they certainly didn’t force Lehman, Bear and Merrill to buy those self same mortgages (that they themselves happened to be underwriting as CMBWTFs ).
There’s always a bull market somewhere, and for now its in volatility.
check out profile lenin/cramer…DOH
NYT is such a rag – they have spent most of the campaign attacking McCain for having ads that attack Obama. I would like to see shortsellers drive them into the ground.
They’re days behind on this, saw this elsewhere (DB or wallstreetfighter maybe) like this past Tuesday-ish
I really never understood why people follow that cramer guy when he caused them to lose a lot of money.
What is even stranger is that in today’s world we have bloggers who can give profitable trading advice and market calls that actually work, and who do not enough charge a thing.
For instance the blogger (link below) has been great in timing the market, and he has been sharing it with anyone who reads his blog at no charge. And there are others.
http://financialtraders.blogspot.com/
Link to latest market call (amazing):
http://financialtraders.blogspot.com/2008/10/dow-sp500-nasdaq-100-bottom-october.html
the blog spam here are now beyond shameless
“Tim Sykes, I am your father.”
-Cramer
@5
Follow these steps
1) Find shotgun
2) Put in mouth
3) Pull trigger
-Perot ’08
@ 7
Are you writing from Kyrgistan?
“11:14AM: with NDX at 1194, we are at the BOTTOM. The market should rise soon, later today or sometime tomorrow. I do not know why they will explain the rally, but our calculation say it is coming.
Last call before the train departs the station! It has been foretold. Stranded passagers: no complaints will be accepted!”
Care to elaborate on your “calculations” and the passagers you describe? Hell I type like crap all the time, but when you’re claiming to be the greatest thing since sliced bread, ya’ might wanna up your game a little bit, son. Also, what’s up with the 2nd person plural reference? We? Our? Who the hell is “we”?
it’s the royal we
@11 good shot .
#7 is making lot of NOISE here. Unwanted. Why does he fool people by selling his book ? Some people in America are under the illusion that only way to earm money is to cheat from others. Very bad for the country.
The bottum has been called. This GIRL is a JENIUS. She has it right, the hole way thorough, predicted all the moves, and in her heart, she knows what is write.
http://sephiroth.blogdrive.com/
Dont miss you’re chance to make billions!!
@Phobos…
where the hell do you find that shit?
Don’t lie. that site is awesome.
The Bids are baaaaaaack…
Exelon Offers $6.2 Billion for NRG Energy, 37% Above Friday Closing Price
Cramer is very odd. You see his psyche right there on the screen, it’s like watching a train wreck, you know you shouldn’t be watching but you do anyway because you can’t believe what you are seeing. He is, in the end, entertaining as you can’t believe he does an entire program almost breathless through all of it.
This past week apparently he asked everyone to read the chapter in his book about when his hedge fund went belly up. He said everyone told him not to put it in the book, not to share his thoughts, but, for the sake of his readers he did share.
@11 — i think the market will drop. maybe not today, or tomorrow, or this month, or even this year. but it will. don’t ask me why because i have no proof or research, or any rational logic for this conclusion, but that is what i have arrived to. you should believe me because i’m a free blog on blogspot, and because i say i’m the best, but do so in third person so you don’t think i’m promoting my own crappy blog. just trust me.
“http://sephiroth.blogdrive.com/
Dont miss you’re chance to make billions!!”
My eyes! My eyes! (Seriously, what’s with the type color?)
#2. Selling the commercial spot to Fox Business was brilliant. Everytime the commercial comes on it makes you curious about the program. It is free advertising for Cramer’s program and they are having some one else pay for it. After all, you gotta pay the bills and CNBC needs the money.
if i was fox, i wouldn’t even say FBN on the ad. just make everyone wonder why Cramer’s own network is bashing him. that would’ve been much more effective.
A lot of the long wave guys predict like a very very very low dow. They are sort of salivating. It is scary to read their stuff. They are saying the dive will come any time after November. In actuality the market is not the same, every one offers the volatility and the changing of the rules as their excuse to watch the proceedings cause they don’t want to say that after x amount of years on WS in such and such capacity they don’t really understand what the hell is going on.
Do you think Cramer is there to do anything but promote trading activity that serves the interests of sponsors like TD Ameritrade, Charles Schwab and eTrade? If the FCC didn’t ban tobacco advertising, he’d rant with a butt in his loud mouth. The sad part is that he’s developed a large following over the past several years and they followed him right into all the stocks that are now worth less than half what they paid. He should be ashamed of himself. Also, who are the beneficiaries of his “charitable trust.” You’d be surprised.
Do you think Cramer is there to do anything but promote trading activity that serves the interests of sponsors like TD Ameritrade, Charles Schwab and eTrade? If the FCC didn’t ban tobacco advertising, he’d rant with a butt in his loud mouth. The sad part is that he’s developed a large following over the past several years and they followed him right into all the stocks that are now worth less than half what they paid. He should be ashamed of himself. Also, who are the beneficiaries of his “charitable trust.” You’d be surprised.
he’s not doing anything different than most of the stock brokers out there, so i don’t know why everyone feels all high and mighty just because he’s on tv. who gets 100 percent of their stock picks right anyway?
whatever happened to cramerwatch.org anyway?
#25, isn’t the purpose of a charitable trust to give to charity?
#28: you may find that charity begins (and ends) at home. i’m just asking.
The probability of payday advance companies burning up in flames would make the Arizona Credit Union System very happy. Yet, their opinion is only marked by means of their own preference. The credit union is taking the next big step to wipe out the competition and draw all the former cash advance customers into their grip. In an E-mail campaign which is estimated to reach about 1.6 million credit union customers, System will encourage voters to reject Proposition 200. In contrast, organizations such as the Arizona Community Financial Services Association are supported by Prop. 200 that claim that the Proposition will eliminate extensions by introducing flexible payment plans, lower state loan fees, and will not only regulate Internet lending, but control the number of walk-in stores in Arizona. This resolution will help payday loan customers and keep industry employees away from the unemployment binge. No one wants to lose their jobs, particularly in our current economy.
Post Courtesy of Personal Money Store
Professional Blogging Team
Feed Back: 1-866-641-3406
Home: http://personalmoneystore.com/NoFaxPaydayLoans.html
Blog: http://personalmoneystore.com/moneyblog/
The probability of payday advance companies burning up in flames would make the Arizona Credit Union System very happy. Yet, their opinion is only marked by means of their own preference. The credit union is taking the next big step to wipe out the competition and draw all the former cash advance customers into their grip. In an E-mail campaign which is estimated to reach about 1.6 million credit union customers, System will encourage voters to reject Proposition 200. In contrast, organizations such as the Arizona Community Financial Services Association are supported by Prop. 200 that claim that the Proposition will eliminate extensions by introducing flexible payment plans, lower state loan fees, and will not only regulate Internet lending, but control the number of walk-in stores in Arizona. This resolution will help payday loan customers and keep industry employees away from the unemployment binge. No one wants to lose their jobs, particularly in our current economy.
Post Courtesy of Personal Money Store
Professional Blogging Team
Feed Back: 1-866-641-3406
Home: http://personalmoneystore.com/NoFaxPaydayLoans.html
Blog: http://personalmoneystore.com/moneyblog/
Why on earth would you bother writing anything about this? On a Sunday?
Cramer’s Action Alerts portfolio: more than 30% down this year, several % down SINCE ITS INCEPTION in 2002.
And the dopes on Fox are even worse.
The classic lebowski quotes are placed perfectly in response…bravo ShortOil.
Just a few thoughts…
1) please watch don harrold videos which appropriately paint Cramer as a huckster
2) cramer has not only been wrong on his market calls on mad $ but he advocated buying bear, lehman and wachovia into their meltdowns toward 0$ in some cases. please see mad money clips for this
3) how ge/cnbc have not fired him, well it made me go to bloomberg for financial news
How to make money off Cramer? Short him!
http://online.barrons.com/article/SB118681265755995100.html?mod=googlenews_barrons
And that was over a year ago…
H/T to http://iraqnow.blogspot.com/2007/08/i-knew-it.html
#36
I thought you wrote “Shoot him”.
It is in CNBC’s interest to use the stupidity and bad manners of their talking heads to make noise and money.It turns out CNBC appear hostage to their own making by people like Cramer, Burnett and Barteromo. How pathetic is that?
I agree with #2. If I was Cramer, I would find the asshole that sold that spot and punch him in the fucking mouth.