Anyone remember the outcry from the real estate industry about Jim Cramer's comments on the housing market back in September?
Here's a link to Ricardo Bueno's Active Rain blog with the video, to refresh your memory.
http://activerain.com/blogsview/219755/Jim-Cramer-says-Don
Well, if you found that exciting, you just have to watch this clip from March 11 of Jim discussing Bear Sterns. :-)
Oops!
Just goes to show ya...
I was watching Glenn Beck last night and they were hashing out the fact that the bailouts do not allow the market to reset on their own and thus it prolongs the recession.
There is a great podcast where the guy who started it by showing that Cramer does not know what he is talkiing about, check out Mad Money Machine
Dave Woodson
Looks like Jim Cramer has lot a TON of credibility in the last week. When the clip started I was just thinking that I'd love to have his vehement positive defense of the state of the housing mrket. By I later realized that his vocal support could be a very bad thing at this time. Wow, how could he have missed that call so badly?
Just what we need... another federal bail out! Let the financial scam artists sink.....
Cheryl,
LOL
I linked your post to Richard Bueno's post.
This is a pretty high-profile fumble by the boy wonder...
Good ol' Jim.
Hey, the guy's an entertainer. That's why they have all those disclaimers all over is show and when he makes guest shots on other CNBC shows.
It just goes to show that even with a ton of "experience" and "street smarts" even the gurus make mistakes. Jim just happens to make more than some.
Great clip!
Do any of you have a clue? Have you watched the entire thing? Have you been following it ALL? And not just these 2 clips. A day or 2 before that clip above, Jim stated COMMON STOCK of Bear Stearns is GARBAGE. I was sitting there watching it as it aired on CNBC.
What Jim was referring to was if people who had money in accounts at Bears Stearns, that their money would be safe, which it still is. Whatever money you had in an account (just like a savings account) is insured. AND Jim was correct about a takeover. Don't you recall JP Morgan bailing them out?
In fact, here is the clip Jim Cramer did about Bear Stearns & the FED. back in AUGUST 2007, stating things were bad. http://youtube.com/watch?v=rOVXh4xM-Ww
Thank you, Joseph, for posting that!! No I hadn't seen it.
And for what it's worth, and some agents here will disagree, but I think if you listen to Jim Cramer's comments about the housing market made back in September ... and compare them to where we are right now in the housing market .... I think he wasn't too far off...
And when I orginally posted this, I was kinda hoping someone would take the thread in that direction. :-)
Jim Cramer is a scam artist. He is a pawn for insider traders and bases his investing advice on personal incentives to bolster the value of his own portfolio. All of you "average" investors out there who listen to him are idiots and have no idea how the street actually operates. It operates on the basis that individuals, like Cramer, are trying to make a buck and will do whatever and say whatever in order to make money.
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