Damien Hoffman Touches A Jim Cramer Nerve

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Mon, 10/26/2009 - 12:46 | 110642 Fritz
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Mon, 10/26/2009 - 12:55 | 110652 serendipitous_one
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And let's not forget Cramer's calls on the "Fortress of Four" banks back in July 08 - most notably, BAC & WFC, both of whom would be/should be toast, if not for Govt. intervention....

Mon, 10/26/2009 - 13:23 | 110679 Hephasteus
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That's down to the holy trinity now. When it hits the dynamic duo of banks maybe people will start to see that they have a bit of a problem with survival.

Mon, 10/26/2009 - 12:57 | 110654 buzzsaw99
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Anyone who takes Cramer's advice is an idiot and deserves to lose money. Unfortunately people even dumber and greedier than Cramer make policy in teh usa.

Mon, 10/26/2009 - 14:06 | 110723 Harbourcity
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I've never understood the fascination with Cramer.  In the real world he'd be selling cars.

Mon, 10/26/2009 - 17:50 | 110947 Sqworl
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He is selling cars, Clunkers..lol

Mon, 10/26/2009 - 19:44 | 111042 truont
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It's because he shouts so well.  My financial advisor never cared enough to shout at me...he just droned on about financial goals and blah blah blah.  I want less "blah" and more "booyah"!!!!

Mon, 10/26/2009 - 13:00 | 110662 Mad Max
Mad Max's picture

I'm pleasantly surprised by the tone of both letters.  I guess I'm jaded at the level of bad-teenager behavior I see so often even in the financial industry.

Mon, 10/26/2009 - 13:02 | 110663 TomJoad
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Jump! You Fucker! BOOYAH!

Mon, 10/26/2009 - 13:09 | 110668 phaesed
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Oh I so can't wait for that asstard to be hung in effigy.

Mon, 10/26/2009 - 13:18 | 110674 demsco
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Getting Back to Even, after listening to my crappy advice for the last 4 years, nevermind the study I brag about cites I have an alpha of ZERO and I only pick momentum stocks... Oh, and it omits all of 2008. Did I mention I am an entertainer, so don't listen to me anymore.

Mon, 10/26/2009 - 13:20 | 110677 TraderMark
TraderMark's picture

What bugs me is all his humility as he was being owned by John Stewart is gone


its as if this was all a memory


so much for contrition or trying to do right...


I have to give Cramer credit on 1 count - promotion.  Stock picking is akin to flippinga  coin.

Mon, 10/26/2009 - 13:21 | 110678 mule65
mule65's picture

Economist - Financial expert with zero visibility

Mon, 10/26/2009 - 13:23 | 110680 DaveyJones
Mon, 10/26/2009 - 13:26 | 110682 lsbumblebee
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I see the title of Cramer's new book is "Getting Back to Even". It should be "Getting Back to Even (After Listening to Me)".

Mon, 10/26/2009 - 13:41 | 110697 Anonymous
Anonymous's picture

why are we worried about a pissing match between Jim Cramer and anybody? WTF?

Mon, 10/26/2009 - 14:07 | 110725 LoneStarHog
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Uh! Maybe it is because that is what ZeroHedge and other responsible alternate financial sites are all about, namely taking on the Elite with - Oh, what's a good word here? - Truth!

Mon, 10/26/2009 - 15:19 | 110794 mberry8870
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Mon, 10/26/2009 - 13:42 | 110698 Anonymous
Anonymous's picture

I wonder which sound effect button Jim was pressing while typing that email?

Mon, 10/26/2009 - 13:51 | 110703 Anonymous
Anonymous's picture

To be fair, it is misleading to say that Jim Cramer says to "sell". If they said "Jim Cramer would sell" or "Jim Cramer's rule say to sell", then I would be okay with it. That's what he's referring to, and then like any good negotiator, he asks for more than what is reasonable (ie. take down the article and apologize) so that he can "compromise" with what is fair, which is just to change the wording.

Mon, 10/26/2009 - 16:32 | 110859 Anonymous
Anonymous's picture

The headline is adequately explained in the body of the post. Examples abound of headline hyperbole. Not actionable.

Mon, 10/26/2009 - 13:55 | 110709 EB
Mon, 10/26/2009 - 13:56 | 110710 Anonymous
Anonymous's picture

I wonder which sound effect button Jim was pressing while typing that email?

Mon, 10/26/2009 - 13:59 | 110714 Anonymous
Anonymous's picture

Guys - there is plenty of crap to throw back in cramer's face w/o resorting to distortion. Cramer was not advocating buying (or holding) BSC in this clip; he was saying that "your money is safe in a bsc brokerage account", which it was. If I recall, there might be a clip of cramer advocating purchase of bsc, but this is not it.

Mon, 10/26/2009 - 17:33 | 110934 Anonymous
Anonymous's picture

What gets me about the "excuse" that Cramer was advising people who had Bear Stearns brokerage accounts that their money was safe was, how many of HIS VIEWERS had accounts at Bear?

Thats NOT his audience, and HE knows it. His audience is small retail Scottrade/Ameritrade/Fidelity etc etc discount brokerage account holders.

Bear was NOT a discount brokerage.

This excuse was the only fall-back he had.

Its bogus.

Mon, 10/26/2009 - 23:38 | 111279 Brett in Manhattan
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In addition, when he explained the "misunderstanding," he matter of factly stated that Bear Stearns common was worthless.  If he knew this, why didn't he point it out at the time when he was telling Bear's brokerage customer's to stay put?

This is the problem with being a compulsive liar like Cramer. Eventually, the lies start to trip over each other.

Tue, 10/27/2009 - 09:56 | 111582 Anonymous
Anonymous's picture

Yeah, I've heard the Cramer excuse that he was just implying that deposits were safe, not the stock. So, the deposits were a take over target? Pure sophistry.

Cramer said Bear Sterns was a takeover target. He was clearly referring to the stock's safety, not accounts.

Mon, 10/26/2009 - 14:16 | 110733 Anonymous
Anonymous's picture

I wonder which sound effect button Jim was pressing while typing that email?

Mon, 10/26/2009 - 14:31 | 110748 Anonymous
Anonymous's picture

Jim Cramer: The Myth that Keeps on Mything


Mon, 10/26/2009 - 14:34 | 110754 Unscarred
Unscarred's picture

This is great dialogue between BOTH parties.  I'm not surprised to see Jim try to use his influence to have this post taken down (and throwing around the idea of "libel" is just plain gutless), but surely him deriding Damien as being "beneath this" would only serve as motivation for Damien to share this message with the world (as he did).

Look, here's the bottom line.  That is just damn good reporting!  PERIOD!  It just sucks for Jim that his words are now being used against him.

Guess he never thought about what it might feel like to put HIMSELF on his OWN "Wall of Shame."

Also, this is EXACTLY why I enjoy reading Zero Hedge!  ZH puts it out there and lets the readership decide - the way it SHOULD be done.  No hand holding, no massaging, no bull shit.  Tyler, Marla, Travis, Rupert, Project Mayhem - thank you.

Mon, 10/26/2009 - 20:07 | 111061 Gilgamesh
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He has a great history of throwing libel suits around.

Mon, 10/26/2009 - 14:36 | 110756 Anonymous
Anonymous's picture

The irony is, I strongly believe that he was short Bear Stern at that moment that he was recommending to the unsuspected not to pull his money(he later claimed that he meant deposits and not stocks,so even his recommendation was hedged which by itself is a proof that he knew something and decided to give the message in a decieving way). Of course I asume that most people who post here know the likes of Jim,but it dosn;t harm every once a while to post those videos of him and the other(Bove),just as a reminder to those new visitors and surfers who might not be as knowledgable as the the frequent visitors.

Mon, 10/26/2009 - 14:53 | 110771 Anonymous
Anonymous's picture

I (and doubtless countless others) would have enjoyed this posting far more if the hadn't replaced jj's inside email address. I'm sure many of his "fans" would have liked to weigh in with him personally...

Mon, 10/26/2009 - 15:08 | 110787 Anonymous
Anonymous's picture

I wonder which sound effect button Jim was pressing while typing that email?

Mon, 10/26/2009 - 15:15 | 110790 Moe Speeks
Moe Speeks's picture

cramer is a crook, plain and simple

Mon, 10/26/2009 - 15:21 | 110797 Green Sharts
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Here's one of Cramer's Greatest Hits, published on 2/29/00 just days before the internet bubble burst:


“You want winners? You want me to put my Cramer Berkowitz hedge fund hat on and just discuss what my fund is buying today to try to make money tomorrow and the next day and the next? You want my top 10 stocks for who is going to make it in the New World? You know what? I am going to give them to you. Right here. Right now.

OK. Here goes. Write them down -- no handouts here!: 724 Solutions (SVNX Quote), Ariba (ARBA Quote), Digital Island (ISLD Quote), Exodus (EXDS Quote), InfoSpace.com (INSP Quote), Inktomi (INKT Quote), Mercury Interactive (MERQ Quote), Sonera (SNRA Quote), VeriSign (VRSN Quote) and Veritas Software (VRTS Quote).

We are buying some of every one of these this morning as I give this speech. We buy them every day, particularly if they are down, which, no surprise given what they do, is very rare. And we will keep doing so until this period is over -- and it is very far from ending. Heck, people are just learning these stories on Wall Street, and the more they come to learn, the more they love and own! Most of these companies don't even have earnings per share, so we won't have to be constrained by that methodology for quarters to come.”

“We try to own every one of them. Every single one. And if I had my druthers, I wouldn't own any other stocks in the year 2000. Because these are the only ones worth owning right now in this extremely difficult, extremely narrow stock market. They are the only ones that are going higher consistently in good days and bad. I love every one of them, just as I loathe the rest of the stock universe.”

A few years after Cramer wrote this, I checked the performance of the recommendations and they were down more than 95% as a group.

Mon, 10/26/2009 - 15:26 | 110802 Anonymous
Anonymous's picture


Mon, 10/26/2009 - 15:32 | 110807 ChickenTeriyakiBoy
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i'm on the edge of my seat awaiting that 10-Q

Mon, 10/26/2009 - 15:35 | 110809 Anonymous
Anonymous's picture

I was watching this charlatan while I was at the gym. Cramer was screaming on Thursday 10/15 or Friday 10/16 to plan to buy Apple on Tuesday 10/20 because he knew Apple was going to miss earnings due to an i-phone production glitch but he thought analysts were too stupid to see that the miss would be due to the glitch. If one followed his advice they would have been treated to buying the stock $10 higher than Monday's close. It's higher now.

Mon, 10/26/2009 - 15:38 | 110811 chumbawamba
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In the end, I see Cramer winding up as someone's bitch at the end of a chain and spiked collar.  Said owner will make a comment, and if CramerBitch doesn't pipe up immediately with, "Yeah, boss, you said it!" he'll get kicked in the groin and go back to his cage without any dinner that night.

I am Chumbawamba.

Mon, 10/26/2009 - 16:23 | 110845 bugs_
bugs_'s picture

Hoisted with my own petard!  Its time to back up the

truck on petards!   We want to own the best of breed


Mon, 10/26/2009 - 17:25 | 110920 time123
time123's picture

I have observed regarding some of Cramer's picks that they are good for the short term, but in the longer term shorts come in and take them down. Exceptions of course apply, such as Apple, Google, etc. which are the better known companies and they continue to do well.


P.S. I get my market timing signals at http://invetrics.com

Mon, 10/26/2009 - 17:31 | 110932 rD2.0
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"If you really need to sell subs just sell them, don’t trash me to do it."

Mon, 10/26/2009 - 17:32 | 110933 rD2.0
rD2.0's picture

"If you really need to sell subs just sell them, don’t trash me to do it." ____ Jim Cramer is the guy who trashes the most people on his show... he gets a kick out of insulting others

Mon, 10/26/2009 - 17:36 | 110939 Anonymous
Anonymous's picture

What do you figure this fuckstick pulls in a year to vomit his horseshit recomendations. ( excuse my miss spelling, a 30 pack of ice house will do that, wisconsin resident and all ). Hang all the banksters from the highest tree.

Mon, 10/26/2009 - 19:19 | 111023 Anonymous
Anonymous's picture

It's blogs like Zero Hedge that give worthless newspapers, financial magazines, and CNBC a bad name... no I take that back, they did it to themselves.

Writing is an art and a natural high when it comes to ZH. I can stock up on food and ammunition, but how do I ensure I can still read ZH (black market maybe, screen prints, I dunno)?

Mon, 10/26/2009 - 19:34 | 111037 truont
truont's picture

Typical establishment response.  Contrary opinions?  Crush with threats of libel.  Ad hominem attacks.  At least they're consistent.

Tue, 10/27/2009 - 00:28 | 111330 Anonymous
Anonymous's picture

Cramer endorsed battery stocks a month ago and they immediately nosedived.

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