Jim Cramer, going off on the destruction of trust and the market being rigged back when the Dow was still at 11,500

October 11, 2008

Jim Cramer, going off on the destruction of trust and the market being rigged back when the Dow was still at 11,500

Sorry Cramer haters. Dude was right.

31 comments:

Anonymous said...: Does Cramer only own blue shirts?; October 11, 2008 11:45 PM
Paul E. Math said...: I still say he's a clown. I still say his frame of reference is always biased toward his buddies on Wall St. whether he knows it or not.

Did you hear him complain that they didn't extend the ban on short selling? He's arguing it's the short sellers that have rigged the game when it's the opposite that's true. The short sellers have sussed out that the game is rigged in favour of wealthy elites and Cramer doesn't like someone spoiling their plunder.

He's right that the game is rigged but he is confused as to who has rigged it for whom.

He's still a POS in my book.; October 11, 2008 11:59 PM
Anonymous said...: Fox channel had a commercial of Cramer. Said he advised listeners to buy Wachovia stock-he lost people tons of money. Fox basically calling him a shill, and that he should be off the air.

Last night on his show, he said to buy into this market. He says the market is a great opportunity to buy stocks cheap. My question is why is he not saying 'back up the truck' like he was instructing everyone to do two months ago?; October 12, 2008 12:06 AM
Anonymous said...: I was recently approached by a conspiracy nut who said the govt wants the dollar to tank so they can roll out some new currency he called amero.Have you guys heard of this crap?

Also I was told the reason our oil prices went so high is due to that fact the arabs bought a bunch of cdo's and got burned.so to make up the losses they started raising oil prices.

Will jim cramer please go away.He is so full of shit.How soon we forget he is the baffoon saying google was going to 1000. Look at all the morons who listened to him.If someone spews enough bullshit they must be right on some things.; October 12, 2008 12:07 AM
Anonymous said...: So true. Trust is gone.; October 12, 2008 12:19 AM
Anonymous said...: Well, so now what.
We're all sitting ducks.
The books are cooked and so are we.
We have no more laws of the land. Bush is so embarrassing; I just cringe when he speaks. If his wife had a brain in her head, she'd smack him cold. Paulson should just go drown himself. For a 62 year old man, he's shot. My guess is the stock market will just fall to it's knees and the next generation will invent something else. I'm RE-reading Manias, Panics and Crashes and what a powerful read right now!; October 12, 2008 12:21 AM
Anonymous said...: It's funny, in the earlier youtube video (Bear Sterns) Cramer complains about Bear being too forthcoming about their financial status. In this video he criticizes the CEO of Fannie for going on NPR and telling the listners that "everything is fine".
Cramer says that's unfair to the little guy, because insiders know the truth of the Fannie/Freddy crisis.; October 12, 2008 12:35 AM
Anonymous said...: Cramer has been on the mark every since Steel made a complete ass of him. Still, Cramer told everyone to sell the banks in the middle of July and when they had almost doubled by September, he then told his vieweres to buy them. That said...I just bought my first Cramer recommended stock....at half the price of which he was first touting it. Bless his heart.
Best of luck to everyone.
Hang tough...and don't forget...life was truly better in the 60s and 70s, except for that damn Vietnam War. If our standard of living reverts to it, we might very well be happier.; October 12, 2008 12:40 AM
Anonymous said...: Didn't Martha Stewart do time in a West Virginia prison for doing something like this??; October 12, 2008 12:55 AM
Owner Earnings said...: Keith, the poll you have on calling the bottom says it all.

The bottom comes when no one is looking for it. Judging by that poll, no one is looking for it.; October 12, 2008 1:44 AM
Anonymous said...: No one will dispute that he is right this time. But up to this point Cramer had been on the other side with his investment bank friends instead of warning the little guys who watched him everyday. I know from experience, three years ago I used to watch Cramer all the time until I saw the real estate bubble and Cramer was saying nothing about it. I quit giving him my valuable time and went on a search to find the truth and found HP. That was over three yeas ago and he has only been speaking out for a year now. Nice of him to level with the little guy now, after the damage has been done. Booya!; October 12, 2008 1:53 AM
Anonymous said...: It seems to me Cramer reverses his position every three days.; October 12, 2008 3:10 AM
KeithK said...: Let's look at how right he was back when the worst problems may still have been avoided:

http://www.thestreet.com/p/rmoney/jamesjcramer/10228330.html

This was about a month before TOL peaked and began to nosedive. His comment:
"As Toll Brothers cruises through $100, it's time to hold the bubbleheads accountable. Who are the bubbleheads, in my book? Those are the people who have told you to bet against housing and to be worried about the speculative boom in homes.

Somebody here oughta be held accountable. Who do you think it is?; October 12, 2008 3:14 AM
Anonymous said...: October 12, 2008
IMF warns that markets could collapse by another 20%
David Smith and Dominic Rushe in Washington

The world is on the brink of financial meltdown, the head of the International Monetary Fund (IMF) said last night. His bleak warning came as finance ministers tried to calm the frenzy in markets that saw share prices crash by more than 20% last week.

http://business.timesonline.co.uk/tol/business/economics/article4926584.ece

Great *CRASH PROOF* video by PETER SCHIFF - the meltdown !!!

re: pass this on let everyone see this video

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_G/threadview?m=tm&bn=8089&tid=186288&mid=186288&tof=7&rt=2&frt=1&off=1

He forewarned everyone years before the Market Crash!!!!
Look what happen now ? Our 401K, mutual funds and stocks tumbled down the drain !

Thanks Peter for the warning.; October 12, 2008 4:07 AM
Anonymous said...: Cramer's still a dick.; October 12, 2008 4:19 AM
Anonymous said...: Crammer wants the government to bail out all the bad paper in the world and he would like to see easy credit again . Crammer isn't right . Crammer doesn't have a show anymore if people could care less about stocks anymore . Crammer needs a bull market to have a show .
Crammer had knowledge of the shadow banking world for a long time now yet he didn't care about pumping up a bull stock market . Crammer is no friend to the people in spite of his panic calls here and there that did more harm than good .; October 12, 2008 4:51 AM
Anonymous said...: 10/11

WASHINGTON (Reuters) - The International Monetary Fund warned on Saturday that debt-ridden banks were pushing the global financial system to the brink of meltdown and rich nations had so far failed to restore confidence.

*************************

Anotherwords, because GW Bush and Cheney were never impeached by congress over the last 8-years of unprecidented bullshit, lies, financial destruction, theft, murders and cover-ups, we NOW KNOW that they're all guilty of treason!!!

Hey US Congress...FUCK YOU!; October 12, 2008 5:09 AM
Anonymous said...: Martin J. Whitman, a professional investor for more than 50 years, said that as long as economies worldwide could avoid an outright depression, stocks were amazingly cheap. Mr. Whitman manages the $6 billion Third Avenue Value fund, which returned 10.2 percent annually for the 15 years that ended Sept. 30, almost two percentage points a year better than the S.& P. 500 index. The fund is down 46 percent this year.

“This is the opportunity of a lifetime,” Mr. Whitman said. “The most important securities are being given away.”

http://www.nytimes.com/2008/10/12/business/12stox.html?hp; October 12, 2008 6:29 AM
Anonymous said...: Here's a good video that has clips of the guys who got it right: Cramer, Rogers, Schiff, Paul.

http://www.youtube.com/watch?v=jCKjiKBkBkQ

and asks why are we ignoring them?; October 12, 2008 6:52 AM
Frank R said...: Cramer is a clown, a joke, and a disgrace, even if he lucks out and gets it right now and again.; October 12, 2008 7:36 AM
Anonymous said...: I don't get it. According to your recent poll, more than 50% had a decrease in Net Worth between 1% and 20%. Don't you people learn anything here? We've been more than 2 years telling you what to do and you still lose money? Whatta bunch of morons!

I bet you haven't put your Bug-Out Bag (BOB) and a bunker together either. Whatever! Don't come crying later.; October 12, 2008 7:48 AM
Anonymous said...: On the last show, Cramer said to jump in the market next week. So you know the market will tank. That guy should be arrested.; October 12, 2008 7:51 AM
Anonymous said...: Cramer is a snake oil salesmen. Stop patronizing this f*ck.; October 12, 2008 7:55 AM
Anonymous said...: Didn't he call the bottom in July???

What happened?; October 12, 2008 11:22 AM
Anonymous said...: Anybody who brags about having paper thin knowledge of 2,000 stocks and then recommends those stocks to retirees is a very dangerous person.

Virtually every one of his viewers would be better served by putting their money in index funds and watching Andy Griffith reruns.

Also, Cramer called a bottom when the S&P was at 1,107 and he screamed "THERE IS NO HOUSING BUBBLE" back in 2006.

Essentially, he has so many different opinions from day to day that some of them are bound to look good in retrospect.; October 12, 2008 3:02 PM
Anonymous said...: Repeat after me ...Crammer is evil , Crammer is evil , Crammer is evil .; October 12, 2008 3:13 PM
Miss Goldbug said...: Keyser said:"Hang tough...and don't forget...life was truly better in the 60s and 70s, except for that damn Vietnam War. If our standard of living reverts to it, we might very well be happier."

Words of wisdom. Agree completely. My husband says the 1970's were the best times of his life. I can't help but agree. I would love it if we could go back to a simpler time and life, purging materialism is certainly a start.; October 12, 2008 4:02 PM
KeithK said...: "Here's a good video that has clips of the guys who got it right: Cramer, Rogers, Schiff, Paul"

Remember the Sesame Street song "One of these things is not like the other, one of these things just doesn't belong..."

Which one is it? Rogers, Schiff, and (I think) Paul all made their objections when the latest bubble was growing, even though the economy appeared to be in great shape. Cramer was happy with the bubble as long is his friends were making lots of money on it. He ridiculed bubbleheads and bears who were pointing out the dangers. The others saw the dangers years ago, when the crisis probably still could have been averted. Cramer waited until after the bubble had popped and his friends who'd been in the business for 25 years were going broke or losing their jobs.

Guess what Jim. You were too late. Way too late. Years too late. In the summer of 2006 you were still laughing at the "bubbleheads" that thought the run-up in housing prices was unstainable and supported by irresponsible lending standards. You completely blew the call when it mattered and used your TV and radio show to shout down the people who had it right. You were a big part of the problem.; October 12, 2008 4:05 PM
Anonymous said...: "Crammer doesn't have a show anymore if people could care less about stocks anymore . Crammer needs a bull market to have a show."

So true! I will celebrate when clown cramer goes off the air!; October 12, 2008 4:06 PM
Chris said...: There is plenty of evidence out there that Cramer has generally been wrong for years. I think the other responses to this post have given some of the highlights.

Cramer is incredibly late to the party here. He's been kissing Bob Toll's ass for years --- I think he's finally stopped now.

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".

Can anybody tell me if that call worked out?

Also, in May 2008, a review by CXO Advisory showed that Cramer's stock picks have done worse than the market averages. You can read about more criticisms in his Wikipedia entry.; October 12, 2008 4:34 PM
Anonymous said...: Hey "just the facts"

It is "in other words" not "anotherwords"

Douche

DOPES; October 12, 2008 6:08 PM