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Cramer Apologizes Over Twitter Rant
And now for some late night amusement from head CNBC entertainer Cramer: "I lost my temper on Twitter this morning. The chatter was that I had put people in the market at the top and taken them out at the bottom. I have done a bunch of things wrong in my life and in my trading career, but that combination is not one of them. There were also the attacks on me about buying gold at the top. What am I supposed to do about this one?"...
We can't help Cramer there, but here is what we had to say about Cramer's apoplectic invocation for a surge in gold, mere hours before its biggest one-day price drop in years:
What are we supposed to say about this one, besides: top ticking swiss watch.
As Cramer is nothing more than a (tragi)comedian, we applaud his collapse to the level of one Dennis Kneale, whose last gimmick before ending his CNBC career, was engaging the blogo/twittersphere. We are delighted that Mr. Cramer has finally "succumbed" to the same terminal level.
As for actually going through Cramer's desperate protest and refuting misrepresentation after misrepresentation, that action is certainly not worth our time: a mere google search should be sufficient.
Twitter Twaddle
By Jim Cramer
RealMoney Columnist11/12/2010 3:07 PM EST
I lost my temper on Twitter this morning. The chatter was that I had put people in the market at the top and taken them out at the bottom. I have done a bunch of things wrong in my life and in my trading career, but that combination is not one of them.
There were also the attacks on me about buying gold at the top. What am I supposed to do about this one? I have liked gold for six years. I am not going to back away from it down $40. Let me go one step further: If I liked it last night when it was not trading and it was down $40 today, these newbies think I got it wrong. It would be wrong if it were up $40 -- then people would be buying a spike instead of a gift.
Twitter is not the format to debate this stuff. I just wanted to point out -- something that you can't do in 140 characters -- that I know I said buy at Dow 6500 because I did something I almost never do: I said "buy" because Doug Kass made a totally compelling case that it was a generational low! I had been saying that in a worstcase scenario we could go to 5000 and change, but I didn't think that was likely. [ZH: of course, let's not forget this]
Along came Doug, saying he had been a bear and he couldn't be a bear anymore. I freely and repeatedly said I was in agreement with his call.
That's why I find these critics so annoying. If you think I didn't say "buy," then you didn't think that Doug said "buy." That's point-blank false.
But they don't care.
As for gold, I have emphasized over and over again that gold is NOT A TRADE. It is an investment. One that has to be in peoples' portfolios.
So many think they have missed it.
You are getting your chance.
When you are public, like I am, you put yourself out there all the time. There is so much to criticize that I have done -- in the same way that anyone who has ever run a hedge fund knows that a lot of mistakes are routinely made.
You want to be never wrong? Never take a position. But you can never be right, either.
That's not called money management. That watching the arena, not being in it.
The Twitterers aren't even watchers sometimes, they are hecklers. While there are many, many more supportive people, there are many who have do not know the etiquette of money management. Saying someone said "sell the bottom" when they didn't is, in my world, simply like saying the Rangers won the World Series -- what a bunch of losers those Giants were.
Anyway, my point is that I have no patience with those who say the bottom call wasn't made. I know it was. I cribbed from it!
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SEC should regulate CNBC. Any idiot that gets in front of the American public, and claims to make market calls should undergo the same regulatory oversight as a financial advisor. What he does is criminal. At the very least, all his calls should be recorded and catalogued so that if anyone wants to look at his track record, then they could do so. I'm sure that if his record was put out there for others to see, it would most likely leave something to be desired.
That's a great idea. Start a web site tracking his hot air. Will be hard for Cramer boy to refute being a charlatan then.
CNBC only cares about ratings. Jon Stewart was the only one, in addition to ZH, that has come forward exposing his fraud.
His show should have some kind of rate warning: FFO (For Fucktards Only.)
Every mention of a stock with a thumbs up or down in a baseball line score format with a net up/down would chart up hissorryass.
Cramer is a twat.
Cramer is like the town drunk in the old western movies.
Gold will be his best trade though. The only people who lost on gold this week were margin players getting stopped. Not to mention it was sofar a minor correction. Buy physical and this is only white noise.
J:
Cramer was unbelievably late to the gold scene. So yeah, that's still his best trade.
Tyler:
Months ago you posted the term "Sad Money." Its always stuck with me.
One wonders what will happen when Comcast takes over. If Comcast decided to go in another direction, what would become of TheStreet.com? Like other lousy internet franchises, think Motley Fool, Cramer would be an after-thought.
What has always amazed me about Cramer, and others like him, is that he starts with rather basic and cogent analysis. But then he jumps to these wild ideas and conclusions that make no sense.
Thankfully, we've got ZH
Cramer had Donny Deutsch(why?) on his show at or near the bottom, March lows. He said to take the next 5 yrs money out of the market (at the bottom). He said do not start a new business or take any risks.
Cramer is a man at war with himself. He is a dichotomy that wants to do good, has done good, but is compelled by an internal flaw to to fk up over and over again. Forgive this guy. He makes a good punching board, and yes, he's taken advantage of a lot of good and trusting sorts.
You know what, I changed my mind. He a fk. Go ahead and give that trash heap some grief.
lulz... Great picks! It's more than trading, he says how great and well run they are.
Jim Cramer's 'Stop Trading!': Buy DuPont 03/14/08 - 02:59 PM
~$50 Buy it before Friday!!!!!!!!!!!!!!!!!!!!!!!!!
"It's not an expensive stock. I like it very much," Cramer said. "seeds are very hot." He also likes Dow Chemical (DOW) for its dividend yield. "I like stocks that are yielding well," he said. "Everything I'm hearing says rates have to come down, so I like the 5% yield very much." On news of a government bailout for harried broker Bear Stearns (BSC), Cramer advised investors to look at the company's debt. "You have to believe the debt will be money good," he said. "It's senior to the common stock."
Cramers Mad Money Stock Picks for May 2008 Buy DuPont
Jim Cramer’s Top Ten Stock Picks for Diversification July 27, 2008
7. Buy a high-quality cyclical stock. Something like Dow, Deere, Boeing, United Technologies, DuPont, Caterpillar, etc. He says these stocks always get beaten up throughout the year, and if you wait long enough, you’ll find a bargain. I just checked out 3M and it turns out they’re trading near their 52-week low. Good time to buy.
This 'accidental high-yielder' benefits from several areas of the recovering economy.
Sep 16, 2008 - 'Mad Money Lightning Round' Stick With Dupont
Any Kind of Return - Cramer's Stop Trading! (10/2/08)
With investors looking for any kind of return they can find in this market, Cramer recommend DuPont and McDonald’s for their dividends. The former does have exposure to the troubled agriculture and housing sectors, but DuPont is a “very well-run company.”
Cramer's Lightning Round - There's More to Dupont (11/3/10) ~$25
"There's more. I want you to hold onto it. Do not sell.
Cramer's Mad Money - Who Wants Dupont? (12/18/08) ~$23
While Cramer likes chemicals, he would not touch DuPont, even though the rest of the sector is benefiting from the low dollar and falling oil prices.
Price 11/12/2010 4:00 PM $46.52
What happens if you click on his google ads a bunch of times?
Jim is a raging idiot, was when he traded, is now. He is the reason people rubberneck on the highway, watch the Jerry Springer show, or Judge Judy. Jimmy is the short time fool and a long term danger. The fact that CNBC is a show people think is a help to their financial life is even sadder. Oh, they have a few people that try hard, like David Faber, and Greenberg- The fact the Jim hasn't blown-up yet is actually quite amazing...but always remember the MAN does have many connections on Wall Street, he has alot of friends at Goldman and around the street.
i was wondering what happened to Beaker...na just kidding, i dont care about that pile of shit
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