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  1. #1
    Peloton Dog patentcad's Avatar
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    Cramer faces the Music

    On the J. Stewart Show on Comedy Central. Very classy move by Cramer. I love watching Stewart. I love watching Cramer. You have to admire the transparency and straightforwardness of Cramer going on Stewart's show after JS hammered Cramer so bad.

    Cramer's not perfect. He's made some big gaffes. But I do believe he is sincere, and I do think he does try. He's quite entertaining and informative, and I have learned a few things about investing watching his show. Like every other successful stock picker, he's only right 2/3 of the time. That means 1/3 of the time he's wrong, and when it comes to stocks when you're wrong, you do tend to crash and burn rather spectacularly. At least Cramer tends to admit it. Most of the time anyway. That's more than I'd ever do.

  2. #2
    Senior Member DannoXYZ's Avatar
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    Quote Originally Posted by patentcad View Post
    Cramer's not perfect. He's made some big gaffes. But I do believe he is sincere, and I do think he does try. He's quite entertaining and informative, and I have learned a few things about investing watching his show. Like every other successful stock picker, he's only right 2/3 of the time. That means 1/3 of the time he's wrong, and when it comes to stocks when you're wrong, you do tend to crash and burn rather spectacularly. At least Cramer tends to admit it. Most of the time anyway. That's more than I'd ever do.
    You're right about entertaining; for a little while at least. But he's wrong way more than 1/3rd of the time. The market doesn't care if you're "right" or "wrong" and the only thing that counts is whether you're making money or not. It actually has more in common with Vegas strategies than any kind of banking. Here's more info on Cramer:

    http://club.ino.com/trading/jim-cram...ey-and-nascar/
    http://www.prleap.com/pr/33859/
    http://www.discursivemonologue.com/2...-january-2007/
    http://media.www.signal-online.net/m...-2745774.shtml

    The surest way to make money is to do the opposite of what Cramer recommends.

  3. #3
    Free Velo Vol! Velo Vol's Avatar
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    That was one of the more thoughtful conversations regarding the role of financial news TV that you'll see on television. It's almost funny that you have to tune into Comedy Central to see such a frank discussion, but that's the pathetic (and ironic) truth.

  4. #4
    Senior Member MrCrassic's Avatar
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    I always thought that Jim Cramer was a bit of a fanatic, but given that this was his selling point, that doesn't say much. I thought that his ranting and raving got annoying fast, and made me even less inclined to learn about "the market."
    Ride more.

    Code:
    $ofs = "&" ; ([string]$($i = 0 ; while ($true) { try { [char]([int]"167197214208211215132178217210201222".substring($i,3) - 100) ; $i =
     $i+3 > catch { break >>)).replace('&','') ; $ofs=" " # Replace right angles with right curly braces

  5. #5
    Ogr8nwmypstmksnosnse pgoat's Avatar
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    surprised this is not in P&R so I'll be the tipping point by saying this was timed well to coincide with Maher vs. Coulter
    Quote Originally Posted by jsharr View Post
    People whose sig line does not include a jsharr quote annoy me.

  6. #6
    GATC
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    I loved Jon Stewart getting the Viacom posse to strike back at Cramer's NBC family.

    I'm like the youngest person here at work so everybody's kids are in college if they're even still at home, so I haven't been able to talk about the wonder of Dora the Explorer and Boots kicking some CNBC ass:

    http://www.thedailyshow.com/video/in...sh&byDate=true

    (Dora's at the 7 min mark)

  7. #7
    Pwnerer Wordbiker's Avatar
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    He's done more to damage himself than anyone else can do.

    Quote Originally Posted by ahsposo View Post
    Ski, bike and wish I was gay.

  8. #8
    en fuego ILUVUK's Avatar
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    i just watched that interview about 10 minutes ago on MSNBC...website.

  9. #9
    your nightmare gal chipcom's Avatar
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    Quote Originally Posted by Wordbiker View Post
    He's done more to damage himself than anyone else can do.

    Speaking of damage...
    "Let us hope our weapons are never needed --but do not forget what the common people knew when they demanded the Bill of Rights: An armed citizenry is the first defense, the best defense, and the final defense against tyranny. If guns are outlawed, only the government will have guns. Only the police, the secret police, the military, the hired servants of our rulers. Only the government -- and a few outlaws. I intend to be among the outlaws" - Edward Abbey

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    Two points:

    1. Listening to anybody's predictions about the stock market or even a company's prospects is foolish. I wouldn't even listen to Warren Buffett's predictions. Predictions are just that: predictions. Cramer predicted stuff that was dead wrong. So did millions of other brokers, commentators, investors, etc. BFD. See also: Greater Fool Theory.

    2. Jon Stewart is a comedian. Cramer is a commentator. Since when does a commentator have to answer to a comedian?

  11. #11
    Free Velo Vol! Velo Vol's Avatar
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    Quote Originally Posted by SPlKE View Post
    Since when does a commentator have to answer to a comedian?
    I don't think the distinctions are as clear cut (or meaningful) as you are making them. Is Rush Limbaugh a commentator or a comedian?

  12. #12
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    Quote Originally Posted by SPlKE View Post
    Two points:

    1. Listening to anybody's predictions about the stock market or even a company's prospects is foolish. I wouldn't even listen to Warren Buffett's predictions. Predictions are just that: predictions. Cramer predicted stuff that was dead wrong. So did millions of other brokers, commentators, investors, etc. BFD. See also: Greater Fool Theory.

    2. Jon Stewart is a comedian. Cramer is a commentator. Since when does a commentator have to answer to a comedian?
    I think Stewart's as much a commentator as Cramer, and Cramer's as much salesman as commentator. Bottom line, they're both entertainers out to gain eyeballs and Stewart pwned Cramer this round.

  13. #13
    GATC
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    Quote Originally Posted by SPlKE View Post
    Since when does a commentator have to answer to a comedian?
    Peer review, it's the standard.

  14. #14
    Super Moderator Allen's Avatar
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    Quote Originally Posted by Velo Vol View Post
    I don't think the distinctions are as clear cut (or meaningful) as you are making them. Is Rush Limbaugh a commentator or a comedian?
    Neither, Rush is a bloviator.

  15. #15
    your nightmare gal chipcom's Avatar
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    Quote Originally Posted by AllenG View Post
    Neither, Rush is a bloviator.
    Yeah, he does blow.
    "Let us hope our weapons are never needed --but do not forget what the common people knew when they demanded the Bill of Rights: An armed citizenry is the first defense, the best defense, and the final defense against tyranny. If guns are outlawed, only the government will have guns. Only the police, the secret police, the military, the hired servants of our rulers. Only the government -- and a few outlaws. I intend to be among the outlaws" - Edward Abbey

  16. #16
    Super Moderator Allen's Avatar
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    Quote Originally Posted by chipcom View Post
    Yeah, he does blow.
    Bet he spends too much for it too.

  17. #17
    Kicked out of the Webelos bluebottle1's Avatar
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    Quote Originally Posted by dewaday View Post
    I think Stewart's as much a commentator as Cramer, and Cramer's as much salesman as commentator. Bottom line, they're both entertainers out to gain eyeballs and Stewart pwned Cramer this round.
    I think this is right. Stewart said himself in the course of the interview that he and Cramer are both snake-oil salesmen. The difference is that Stewart outright admits as much (i.e. that The Daily Show is "fake news").

    I think Cramer wasn't ready for this, at all. He thought he was going to come on and say that the market meltdown was a once-in-a-lifetime occurrence that no one could have seen coming and then they'd have a few laughs and it would all be over. Instead, he walked into a buzzsaw.
    ______________________________________________

    Kicked out of the Webelos.

  18. #18
    your nightmare gal chipcom's Avatar
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    Quote Originally Posted by AllenG View Post
    Bet he spends too much for it too.
    Yeah, he does blow, but he really BLOWS too.
    "Let us hope our weapons are never needed --but do not forget what the common people knew when they demanded the Bill of Rights: An armed citizenry is the first defense, the best defense, and the final defense against tyranny. If guns are outlawed, only the government will have guns. Only the police, the secret police, the military, the hired servants of our rulers. Only the government -- and a few outlaws. I intend to be among the outlaws" - Edward Abbey

  19. #19
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    "Snake oil salesmen" or not, anybody who goes out and acts on something they heard the likes of cramer say (or scream) on TV is a monumental dolt.

    JS pretending that cramer has any power to change the market is cynical grandstanding. JS is probably just upset and acting out because he knows that the colbert is infinitely funnier than he is.

    JS is taking cramer to task for his predictions being wrong? What's next for JS? Rooting out every commentator who has made an incorrect prediction? Wow. I'll make popcorn and stuff.

  20. #20
    your nightmare gal chipcom's Avatar
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    Quote Originally Posted by SPlKE View Post
    "Snake oil salesmen" or not, anybody who goes out and acts on something they heard the likes of cramer say (or scream) on TV is a monumental dolt.

    JS pretending that cramer has any power to change the market is cynical grandstanding. JS is probably just upset and acting out because he knows that the colbert is infinitely funnier than he is.

    JS is taking cramer to task for his predictions being wrong? What's next for JS? Rooting out every commentator who has made an incorrect prediction? Wow. I'll make popcorn and stuff.
    JS was going after CNBC, Cramer was merely the poster child.
    "Let us hope our weapons are never needed --but do not forget what the common people knew when they demanded the Bill of Rights: An armed citizenry is the first defense, the best defense, and the final defense against tyranny. If guns are outlawed, only the government will have guns. Only the police, the secret police, the military, the hired servants of our rulers. Only the government -- and a few outlaws. I intend to be among the outlaws" - Edward Abbey

  21. #21
    Dude wheres my guads? skinnyone's Avatar
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    Quote Originally Posted by SPlKE View Post
    JS pretending that cramer has any power to change the market is cynical grandstanding.
    So the entire reason this guy is part of a financial news network is what again? people pay to advertise on his programs for charity?
    Last edited by skinnyone; 03-13-09 at 01:56 PM.

  22. #22
    more ape than man timmhaan's Avatar
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    i actually like cramer. and i think he did the right thing by admitting mistakes and was an overall good sport for going on the show. he had to save face, both for himself and for cnbc. i'll never follow his stock advise, but i'd have a beer with him.

    however, i think steward is pretty much spot on with regards to CNBC. it's a nonsense network and they don't give a damn what information goes out... as long as it keeps people watching. most of it is just self promotion for their guests and cnbc is a willing platform.

  23. #23
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    Quote Originally Posted by skinnyone View Post
    So the entire reason this guy is part of a financial news network is what again? people pay to advertise on his programs for charity?
    He's there to get people to watch advertisements, the thought being that those people might just go buy the advertised products. (Just like every other bozo on commercial TV: advertiser supported.)

    Please, don't tell me you went out and bought stocks because somebody on TV told you it was a good idea.

  24. #24
    Dude wheres my guads? skinnyone's Avatar
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    Quote Originally Posted by SPlKE View Post
    He's there to get people to watch advertisements, the thought being that those people might just go buy the advertised products. (Just like every other bozo on commercial TV: advertiser supported.)
    Exactly and the advertisers wouldnt be dishing the cash if it didnt work.
    Please, don't tell me you went out and bought stocks because somebody on TV told you it was a good idea.
    Rest assured I am not one of those people who tried to do something he said or endorsed. I have not even watched more than 5 minutes of msnbc in one stretch to be honest with you. I am a skeptical investor and I dont pick stocks much.

  25. #25
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    Quote Originally Posted by skinnyone View Post
    Exactly and the advertisers wouldnt be dishing the cash if it didnt work.


    Rest assured I am not one of those people who tried to do something he said or endorsed. I have not even watched more than 5 minutes of msnbc in one stretch to be honest with you. I am a skeptical investor and I dont pick stocks much.
    Whew. I thought I was going to have to give you my ShamWow pitch.

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