On manipulating the market: “A lot of times when I was short at my hedge fund, and I was positioned short, meaning I needed it down, I would create a level of activity before hand that could drive the futures,”
-On falsely creating the impression a stock is down (what he calls “fomenting”): “You can’t foment. That’s a violation… But you do it anyway because the SEC doesn’t understand it.” He adds, “When you have six days and your company may be in doubt because you are down, I think it is really important to foment.”
-On the truth: “What’s important when you are in that hedge fund mode is to not be doing anything that is remotely truthful, because the truth is so against your view – it is important to create a new truth to develop a fiction,” Cramer advises. “You can’t take any chances.”
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Sounds like bogus gobbledygook to try and sell something, like a press release that uses ‘synergy’.
A more fascinating post on Cramer would be a analysis of how the Left has been pushing attack lines on him ever since he criticized OBama
For a number of years, I listened to Jim Cramer’s now defunct radio stock show and watched his cable tv show. His stock advice has been as reliable and honest as anyone I have heard in the media. Much better than the “Bernie Madoff of Politicians” we enjoyed electing and praising.
That is the reason so many people lost so much money. Anyone who day-traded had no chance of making a dime, they were all pawns in a game for the bullies, like Cramer. This makes me think it is better to bet on craps in Las Vegas, then a solid company that has potential, good earnings and a favorable P/E ratio. Stock price was not a reflection of value, but manipulation. It makes my stomach hurt listening to him.
In Jon Stewart we trust!
Capitalism is obviously a failure.
#1. So, your OK with illegal activity by guys like this, good for you sir.
“A more fascinating post on Cramer would be a analysis of how the Left has been pushing attack lines on him ever since he criticized OBama”
Yeah…that would be “fascinating’. Idiot.
can we get this a**hole off the air NOW. Sheesh.
As Andrew Horowitz says, this guy is “brilliant”!
How come every time some illegal or manipulative actions by someone from the right and those that support what has been going on in the past administration for the past ten years is always the fault or doing of someone else. I notice the ‘right’ always has a hard time accepting who the actual crooks really are, no matter how they try to spin it.
I’m in the investment business and this guy and Suze Orman are the laughing stock of pros. These stock shows are garbage. This is like taking dentistry advice on TV. Much less a guy that hits big buttons and screams. You really should consult professionals about your individual situation.
#11 and growing economy is a good thing? Probably your mind is blank right now trying to think of anything else what can be used to describe improvement on a society wide scale… Good work capitalism!
Maybe a lack of a tunnel vision in your fellow citizens and fewer panic attacks are better than economy growth? Who’s that Mr.economy anyways, a big fella, I guess?
#6 no I’m not OK with illegal activity.
I’m also not OK with the idea that anyone who criticizes a politician gets investigated.
I also think Cramer is lying in this video to impress people.
Cramer, stir the pot. First thing one should keep in mind is, he is in Entertainment News. I do not gamble and “make a quick trade buck” so my take on this video is different. He is explaining in an entertaining way how some process can be put together. Here is my Rt vs Lt political statement: There is only center and it is green. Green as money and trees.
Save the planet from “robber tycoons” and make money. If paper assets can’t work then some other fuzzy assurance needs to be designed. That carbon credit and the eco-business model will due fine. It is going to require a global clearing house. Hum, World Bank works.
I am sure Cramer could tell the story better, funnier and style.
#11:
I was joking. 😉 I’m a capitalist.
Boo yah! Skee-daddy! This dimwit has already had his 15 minutes.
Somebody get out the Gong Show hook….
I like Cramer… Just do the opposite of what he says. I’m making a killing!!! HAR
well that was refreshing, nice to see him actually tell it like it is for change.
i still have a hard time believing people actually have taken this this guy seriously
and gambled their money according to his tips.
i could believe that he is hired to create
the “illusion” of such a grand audience to help drive the ratings for the show. -but “real” people actually risking real money
on tips from a TV stock-analyst payed by a multinational / entertainment company who’s parent corp has finacial arms which include amongst others, Merrill Lynch Capital, and CitiCapital?
-for real?
(not to mention hundred or so other markets
they’re that could benefit greatly from
basically having the ability to whisper in
the ears of [TV Traders?] either directly
or by tanking the competition’s stocks.
(talk about a case for the SEC/FCC being on
the take..)
anyone see the genius, yet glaring conflicts of interest here?
anymore of these cableTV analyst shows on air
with the same “power”?
(i haven’t subbed cable since the 80’s)
tbh, it’s too funny for words..
caveat emptor?
-s
Could someone explain why everyone is hating on Cramer all of a sudden? He was wrong about Bear Stearns almost a year ago … but I am seeing people ripping him all of a sudden who were before never even interested in stock trading.
I never thought his buy or sell recommendations were that great, but he gave good insight into different companies. I followed his portfolio in a trial once and did very well. Anyone in his position forced to talk about what people ask is going to screw up now and then. But I don’t understand the timing of him being burned at the alter.
#13, Lyin’ Mike,
I’m also not OK with the idea that anyone who criticizes a politician gets investigated.
I also think Cramer is lying in this video to impress people.
And who is being investigated because they criticized a politician? Are you sure they are not being investigated because they might have either done something wrong or are affiliated with someone who did something wrong?
By your standards, all those who criticized Bush should never have been investigated.
By what measure or evidence do you think Cramer is lying? He claims all money managers do it and the FCC and SEC just doesn’t investigate. It is coming to light that the FCC and SEC didn’t do much investigation during the Bush Administration.
http://hulu.com/watch/62203/the-daily-show-with-jon-stewart-thu-mar-12-2009
#19, Cramer was critical of Obama recently, and now he is facing the wrath. Expect something on Rick Santelli soon.
#20 I believe the SEC doesn’t investigate, and that money managers do this sort of thing. However, what Cramer said here, it just sounds like he’s trying to impress someone. Perhaps if you would read my posts you would know this already.
This is pretty old news.
You do know that shorting stocks is not illegal?
The real question I have about Cramer is how many lines of coke does he snort prior to going on the air? It is very confusing to watch. Not real informative either, though somewhat entertaining.
No one takes anything Rick Santelli says serious. The guy has a BS degree. A frickin’ BS degree and somehow he is an authority on anything besides where his frat brothers keep the beer.
I think what most people fail to realize, is that both of these individuals are TV personalities. As such, they should not be taken seriously. Does anyone here trust either O’reilly or Olbermann for their news?
#24, Jeff,
I understand where you are coming from and you are quite correct, one should not get their “news” from editorial shows.
The difference with Cramer is that he is either pretending to be or is trying to have everyone think he is an expert. It is for this reason he is being called out. Of course, he is not the only person at CNBC that does this slight of hand and deserves to be called on.
Years ago I called Cramer on being a shill for the Fed, passing along bogus advice. He was paid by getting insider information that he could safely profit from.
He made the mistake of getting on the wrong side of his masters. No more insider information. When all hope was gone of his getting back in the underworld, he started telling the truth about what was going on. He couldn’t “predict” anything anymore, though.
He is being called out because on his network Santelli criticized Obama’s economic plans.
How CNBC can keep Cramer on the air after seeing this vid is shocking. How the SEC is not calling him is shocking.
But the SEC had time to track down Martha Stewart. The SEC is a joke.
Stop listening to clown like Cramer. Start getting professional stock advice for free, go to:
http://www.gainerstoday.com