Love him or hate him, Jim Cramer has a lot to say. Which is exactly why it’s interesting that he spent some of his valuable airtime last week applying for a job in Washington. That’s right, in case you missed it, CNBC’s resident blowhard hopped on the ‘offering advice to Obama’ train and told him what he needs to do in his first 100 days to fix the economy. What a SOB he is…
Would make a good press secretary.
He would be a calm, reassuring voice of reason in these turbulent times.
JustPass Wrote: ------------------------------------------------------- > He would be a calm, reassuring voice of reason in > these turbulent times. This made me laugh.
Why all the hate on Jim? I don’t watch his show, but he seems like a pretty intelligent guy (more so than a lot of people on here) who knows a thing or 2 about the markets/economy/government. Sure he is a bit eccentric, but so what? He was on Conan last night and he made me laugh by mentioning his solution to the housing market: the “Federal Arson Program”, where a few guys walk around SoCal and burn down houses. As crazy as that sounded it did get me thinking.
We hate on him because he’s a market manipulator and takes advantage of uneducated investors looking to make a quick buck. That, and he recommends selling bottoms.
Cramer is my hero. Wait did i say hero? I meant hero like in a hero bread.
Cramer is scum, I dont want him just out of principle.
No one person has all the answers. If you put Obama, Paulson, Cramer, Bernanke, Buffett all in a room on a periodic basis to discuss ideas on how to confront the crisis, it can’t be a bad thing. These are all smart guys who have different perspectives. The more ways you can look at and analyze a problem to talk about an constantly changing tentative solution the better (IMO).
Cramer’s main qualification is celebrity. Does anyone think he knwos more about the economy than anyone else?
there are nuggets of wisdom in there somewhere…he is akin to a description of William Jennings Bryan…“a cloud of words sweeping across the landscape, in search of an idea”
Just have him speak his mind as loudly as possible and do the exact opposite.
Cramer is obviously very bright, and advises people to buy based on P/E’s, fundamentals, and cyclical business market timing…which as everyone know is very difficult. But in spite of all his research, Barrons found that if you followed his advise, he trailed the S&P, and after the costs of trading (from his capricious buy/sell calls), your lucky if you break even. I do find it ironic that he advises people to make investment decisions based on the fundamentals, but was a big market manipulator while at his HF. He’d try to bid up stocks or futures to make them look strong, create unusual option volume, and spread false earnings report rumors using reporters…he basically broke every rule in the CFA code of ethics to amass his fortune.
PeteyPete Wrote: ------------------------------------------------------- > > I do find it ironic that he advises people to make > investment decisions based on the fundamentals, > but was a big market manipulator while at his HF. > He’d try to bid up stocks or futures to make them > look strong, create unusual option volume, and > spread false earnings report rumors using > reporters…he basically broke every rule in the > CFA code of ethics to amass his fortune. I don’t find it ironic at all. If everyone else is doing why shouldn’t he. Like he says he’s all about making money. Its kind of like a highway that has no speed limits. While you may have gone 80 MPH in the past that doesn’t mean you have no right to argue for an imposed 65 MPH speed limit.
I think he is a very bright guy. While I question anyone who buys and sells stocks solely based on his recommendation, I find him to be very informative. For someone like myself who has only been following the stock market closely for two years and has not yet seen a full market cycle, I find his insight very helpful in terms of learning how to think about causes and effects in the markets. I wouldn’t say that makes him qualified to be an economic adviser to Obama though. My hunch is there are a lot of other very bright guys out there that would be a better fit.
I’m not saying he’s dumb, but he made his bones as a stock oicker & trader. He’s not ana economist.
thepinkman Wrote: ------------------------------------------------------- > PeteyPete Wrote: > -------------------------------------------------- > ----- > > > > > I do find it ironic that he advises people to > make > > investment decisions based on the fundamentals, > > but was a big market manipulator while at his > HF. > > He’d try to bid up stocks or futures to make > them > > look strong, create unusual option volume, and > > spread false earnings report rumors using > > reporters…he basically broke every rule in > the > > CFA code of ethics to amass his fortune. > > I don’t find it ironic at all. If everyone else > is doing why shouldn’t he. Like he says he’s all > about making money. Its kind of like a highway > that has no speed limits. While you may have gone > 80 MPH in the past that doesn’t mean you have no > right to argue for an imposed 65 MPH speed limit. I see your point, and I don’t begrudge him for his riches…but he shouldn’t be propped up as a friend of the little investor, and in any way an expert on things financial; even if his heart is in the right place. If I made millions laundering coke money in Panama during the 80’s (which at the time was legal in Panama), and then sold myself as an expert on the central American banking system, I wouldn’t be credible. Aside from his uncanny ability to remember all the stocks, their symbols, and have some idea as to whats going on in most of them is amazing…but Barrons proves it doesn’t equal alpha.
Another thing to consider is that he is giving advice to millions of people. Its pretty hard to beat the market in such a format. I believe he had a pretty good record as a hedge fund manager.
thepinkman Wrote: ------------------------------------------------------- > Another thing to consider is that he is giving > advice to millions of people. Its pretty hard to > beat the market in such a format. I believe he > had a pretty good record as a hedge fund manager. If Cramer had his CFA, do you think CFAI would disallow this even though they have that disclaimer? I think the CFAI is pretty firm about not making any investment recommendations until getting the full perspective of the investor. . .
projectplatnyc Wrote: ------------------------------------------------------- > thepinkman Wrote: > -------------------------------------------------- > ----- > > Another thing to consider is that he is giving > > advice to millions of people. Its pretty hard > to > > beat the market in such a format. I believe he > > had a pretty good record as a hedge fund > manager. > > > If Cramer had his CFA, do you think CFAI would > disallow this even though they have that > disclaimer? > > I think the CFAI is pretty firm about not making > any investment recommendations until getting the > full perspective of the investor. . . What CFAI could do? Cancel his charter…do you think that he will care for this stupid charter when he is making million dollars every year. Tell me if anyone even pursue charter if one is making millions already? People working in Private Equity and hedge fund industry who are already minting millions in their late 20s and early 30s would ever consider to pursue CFA. They might just go for ivy league MBA but I still doubt it as Opportunity cost is much higher for them than most of the people here.