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Date: January 10, 2011; Source: Jim Cramer; Title: "10 Reasons To Buy Bank Of America"

Tyler Durden's picture


Everyone who may have just heard the unprecedented rant by Jim Cramer bashing Bank of America, now that it is at its multi-year lows, may be a little confused. After all it was just on January 6, 2011, when Bank of America was at its multi year highs, that he released the following "report" titled "10 Reasons to Buy Bank of America." We all enjoy the laugh, but we ask Comcast? Is this is the comedian that CNBC wishes to destroy any remaining viewership it has and commit ratings suicide?

And since we frankly couldn't care less about CNBC's evaporating vierwship, here is Cramer's full take from January, which has cost those who listened to it, a nearly 50% loss in about 8 months.

10 Reasons to Buy Bank of America

Published: Thursday, 6 Jan 2011 | 6:09 PM ET

Investors who want to bank on America’s return to greatness, Cramer said during Thursday’s “Mad Money,” should buy Bank of America.

He believes that job growth will return. He believes in stabilizing and then climbing home prices. He believes in even a rising standard of living and the inevitable return of investors to the market. Put simply, he’s bullish on America. And if you are, too, he thinks Bank of America is the way to play it.

Here are 10 reasons why you should get on board with Cramer:

Look at BAC’s chart going back to January 2007. Cramer said he’d heard more negativity about the bank and more downgrades of the stock between its move up to $14 from $12 than during its decline to $3 from $50. “This chart is screaming, ‘Buy me! Buy me! Buy me!’” Cramer said, “yet the bears are growling that Bank of America is the most dangerous bank to own in the world.”

Point two is directly related to point one in that BAC is not dangerous at all, Cramer said. The bank is well capitalized. So much so that there’s no need for it to raise more money. Certainly in what Cramer described as “a world full of dangerous banks,” Bank of America does not rank among them.

Reason three is the fact that Bank of America is about to reinstate its dividend, Cramer said. Investors seemed to love the stock until the dividend was cut, and now they hate BAC when the payout’s coming back? Cramer doesn’t get it, especially when you consider capital the bank is sitting on. He thinks that means dividend boosts are on the way.

Then there’s the huge market share that Bank of America captured during the downturn. The company now controls, thanks in part to the addition of Countrywide Financial, 20 percent of the mortgage market. That should translate into a huge windfall once the housing market improves.

Speaking of housing, Cramer said Bank of America owns the most houses in the U.S. Admittedly, that was a result of some pretty bad underwriting. Regardless, though, this so-called shadow inventory will turn into a boon in 2011 as job growth gives rise to housing demand, and BofA serves as home supplier to the nation.

Reason number six is Ben Bernanke, who wants American banks strong and healthy. By keeping the interest rate that banks pay you for your deposits low, Bernanke has allowed Bank of America and others to make more from the interest rate they charge for loans. And when you factor in this company’s huge deposit base, Cramer said, BAC makes money “simply by turning the lights on everyday.”

Merrill Lynch, meanwhile, offers what Cramer called “the most powerful network of high-net-worth advisors in the country,” which is perfect now that investors look ready to leave bonds and move back into stocks. And unlike Countrywide, Merrill’s reputation was never tarnished.

Number eight here is jobs. Steady employment leads to increased credit and borrowing, and that means more profits for Bank of America. Cramer said he almost hopes that Friday’s job number will be weak just so investors can get into BAC on a dip, because the employment trend in America is headed in the right direction.

And don’t forget that the Republicans now control the House of Representatives. So say hello to a hands-off approach to regulation, regardless of the reform bill that was passed this year. Of course, consumers will be paying higher fees for their checking accounts, but that’s some great no-risk income for the banks.

Finally, the company’s put-back mortgage exposure to Fannie Mae and Freddie Mac  has turned out to be miniscule compared to what the bears thought. “And now that that risk is taken off the table,” Cramer said, “this is big.”

When this story published, Cramer's charitable trust owned Bank of America.


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Mon, 08/08/2011 - 09:52 | 1536747 Steve Evets
Steve Evets's picture

When did Cramer bash BAC?

Mon, 08/08/2011 - 10:42 | 1537054 spiral_eyes
spiral_eyes's picture

bullish is one letter away from bullshit. that t is damn important right now, though. 

Mon, 08/08/2011 - 09:53 | 1536751 alien-IQ
alien-IQ's picture

How many calls like this is he allowed to make before he's yanked off the air for the sake of the investing sheeples well being?

Mon, 08/08/2011 - 09:58 | 1536776 jus_lite_reading
jus_lite_reading's picture

Cramer is the Blue Horseshoe... he shills for Whore Street!!

Mon, 08/08/2011 - 10:06 | 1536832 hedgeless_horseman
hedgeless_horseman's picture

"Everyone gets long, nobody gets hurt."  -Cramer

Google translated from lieish to truthish

"I tell everyone to get long, SEC stops investigating my company,"

Mon, 08/08/2011 - 10:10 | 1536848 High Plains Drifter
High Plains Drifter's picture

when that yid used to own a hedgefund, he used to destroy computer monitors all the time and yell and scream and throw things at his employees. i promise you this. if he ever threw something at me, that would be the last fucking time that bozo acted like a fool.............

Mon, 08/08/2011 - 23:38 | 1541032 yipcarl
yipcarl's picture

Love it Love it.  BlueHorshoe LOVES Anacot steal.... nice.  He definiately is..just another one of their spokes....

Mon, 08/08/2011 - 10:00 | 1536784 FEDbuster
FEDbuster's picture

With all these ETF firms running out of fresh ETF ideas, couldn't someone start an Inverse Jim Cramer ETF?  Symbol JCBS?  Take every recommendation buy and sell, and do the exact opposite (like George Costanza in the great Seinfeld episode).

Mon, 08/08/2011 - 19:17 | 1539901 Diogenes
Diogenes's picture

It sounds like you could make a fortune coppering Cramers tips. Anybody tried it yet

Mon, 08/08/2011 - 10:20 | 1536908 Chuck Walla
Chuck Walla's picture

He'll make as many calls as TPTB need.  This is vintage Cramer, he was better suited to Seinfeld.  Believe me, if anyone makes money with Cosmo there, its just a happy coincidence.  I can't beleive he's still on either.

Mon, 08/08/2011 - 10:46 | 1537069 Don Birnam
Don Birnam's picture

Jim Cramer ? Of course ! THAT Jim Cramer....

Mon, 08/08/2011 - 09:53 | 1536752 monmick
monmick's picture

What he really meant to say was that it was safe to leave your cash on deposit at B of A...

Mon, 08/08/2011 - 09:53 | 1536753 DormRoom
DormRoom's picture

hey, Paulson got it wrong too.  His Advantage fund is about to implode.

Mon, 08/08/2011 - 10:02 | 1536803 FEDbuster
FEDbuster's picture

Ironic that the guy who made billions betting against the mortgage market, loses billions betting on the bank who was stuck holding the bag on all those bad mortgages.

Mon, 08/08/2011 - 10:12 | 1536868 hedgeless_horseman
hedgeless_horseman's picture

Lose billions?  He likely sold into his viewers' bids.  No irony, only shame.

Mon, 08/08/2011 - 09:54 | 1536754 swissinv
swissinv's picture

fuck off cramer bitch *apologies

Mon, 08/08/2011 - 09:54 | 1536758 Greater Fool
Greater Fool's picture

Ah, the dreaded Jim Cramer Vote of Confidence.

Look out below!

Mon, 08/08/2011 - 10:11 | 1536856 Pegasus Muse
Pegasus Muse's picture

Cramer:  "And unlike Countrywide, Merrill’s reputation was never tarnished."

Selective memory loss.


Bank of America to Buy Merrill Lynch for $50 Billion

"Merrill came under pressure to find a merger partner came after its liquidity began "evaporating" Friday and the firm became worried about a sharp decline in share price on Monday, according to people inside the firm.

Merrill is expecting huge job losses with the merger. The brokerage division will stay intact, but there will be large-scale reductions in workforce. CEO John Thain is also expected to leave.

"It's over," said one senior Merrill official.

The deal comes as Lehman Brothers Holdings prepares to file for bankruptcy after failing to find a buyer.

A Merrill Lynch spokeswoman and a Bank of America  spokesman could not immediately be reached for comment.

Merrill, stuck with some of the same toxic debt -- much of it mortgage-related -- which torpedoed Lehman's balance sheet, has been hit hard by the credit crisis and has written down more than $40 billion over the last year.

Mon, 08/08/2011 - 10:47 | 1537071 ToNYC
ToNYC's picture


David Faber got the worst deal. Faber's studied remarks are muted as necessary at 9AM. David will survive; pray for his patience.

Mon, 08/08/2011 - 09:56 | 1536762 doomandbloom
doomandbloom's picture

harakiri, bitchez

Mon, 08/08/2011 - 10:17 | 1536917 Abitdodgie
Abitdodgie's picture

I don't have TV so I have never seen Cramer before , but having seen that clip , well no wonder America is fucked I mean people actually listen to him . Years ago I bought AU/AG and felt kinda bad because in the long run I knew I was betting against America surviving , well I feel a whole lot better now .

Mon, 08/08/2011 - 09:56 | 1536763 fellatio is not...
fellatio is not fattening's picture

I have been a big fan of Cramer for a long time, however since getting the gig on the floor of the exchange daily he has become more of a buffoon, and I have lost much respect for him and his antics in the last 12 months, his time has passed and I do believe that he is costing people serious money.

Mon, 08/08/2011 - 10:47 | 1536931 TruthInSunshine
TruthInSunshine's picture

The Winners of the New World - TheStreet

The Winners of the New World By Jim Cramer February 29, 2000 - 09:42 AM EST

Editor's Note: James J. Cramer is the keynote speaker at the 6th Annual Internet and Electronic Commerce Conference and Exposition, held today at the Jacob Javits Center in New York City. We're running the full text of that speech here.

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), Ariba (ARBA), Digital Island (ISLD), Exodus (EXDS), (INSP), Inktomi (INKT), Mercury Interactive (MERQ), Sonera (SNRA), VeriSign (VRSN) and Veritas Software (VRTS).

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.

Tue, 10/25/2011 - 14:30 | 1537158 TruthInSunshine
TruthInSunshine's picture

In Cramer We Trust

Just skip to 3:10 (because Jon get's a lot wrong about Santelli, IMO, but NAILS the rest - regardless of how you or I feel about him - CNBC's tape speaks for itself, sadly, in which CNBC recommends buying Bear Stearns, AIG, and Bank of America, among many others, at or near their all time highs).

Mon, 08/08/2011 - 13:27 | 1538057 cramers_tears
cramers_tears's picture

What a 10 year return here!

OK. Here goes. Write them down -- no handouts here!: 724 Solutions (SVNX)-IPO @71.81 Sued for Tie-In Trading Class Action -Acquired BY Mobilex&others @3.60 in 2005, Ariba (ARBA) 3/2000 $778/shr - now $26.55 - but hey at least it still existsDigital Island (ISLD) acquired 6/2001 by C&W all cash offer @ $3.40/shr, 1999/2000 stock price ~$116 , Exodus (EXDS) Chapter 11 Bankruptcy 9/26/ (INSP) 2000 @ 4.65/share - 2011 @8.67/share (this is his big winner!)Inktomi (INKT) Mar2000 $241/shr - Acquired by Yahoo 2001 @ 1.36/shr, Mercury Interactive (MERQ) - TOTAL BADSonera (SNRA) TOTAL BADVeriSign (VRSN) Mar2000 @248.59/shr - now $28.22/shr but again the only other pick that's still around and Veritas Software (VRTS) 1st Qtr 2000 High $174/shr, Repeated Accounting Restaters/Fraudsters under Lochnar  - Merged into Symantec 2005 @27.38/shr stock swap.


Actually, Cramer may be a very good Contrarian Indicator.  He's like the summer of George... just do the opposite.

Mon, 08/08/2011 - 09:56 | 1536764 oogs66
oogs66's picture

he is on more and more, how screwed up is that network?  and worst of all, he is the only one who still talks about stocks! the rest might be worse

Mon, 08/08/2011 - 10:05 | 1536814 FEDbuster
FEDbuster's picture

You mean the disclaimer they post after each time this ass hat opens his pie hole isn't enough?

Mon, 08/08/2011 - 10:49 | 1537087 ToNYC
ToNYC's picture


"You need to get in the game!"


Mon, 08/08/2011 - 09:56 | 1536765 RubberMartyr
RubberMartyr's picture

The Maria Bartiromo newsletter seems just as informative!

Mon, 08/08/2011 - 09:57 | 1536769 Peter K
Peter K's picture

I think that since the OBAMA "Immaculation", CNBC has transformed itself into a political format disguised as a business channel. How else do you explain hiring Howard Dean as the channels official political officer ;)

AS to Cramer, he hasn't been the same since Jon Leibowitz aka Steward distroyed him after his rant about how he (Cramer) was going to raise an army to do battle with HopeanChange OBAMANOMICS.

Mon, 08/08/2011 - 09:57 | 1536770 oogs66
oogs66's picture

maybe they can do dress down friday and have mandy in a bikini all day long, ratings might go up

Mon, 08/08/2011 - 09:58 | 1536775 sellstop
sellstop's picture

Kramer is very bullish on Gold too!!!


Mon, 08/08/2011 - 09:58 | 1536777 JackES
JackES's picture

seriosuly, can ZH go lower?

not to defend Cramer who is at the same class as ZH, ZH has been bearish on US quity since 03/2009, my take is ZH missed the entire bull run. And now ZH picks up some Cramer's wrong calls to laugh about him?


gezz, check out ZH's posts regarding US equity since 03/2009. give me a break.

Mon, 08/08/2011 - 10:02 | 1536799 Tyler Durden
Tyler Durden's picture

Zero Hedge has told readers to avoid manipulated stock markets entirely (repeatedly) and if so tempted, to put money solely into non dilutable precious metals. Stocks when priced in gold are well below the March 2009 low. Feel free to redo your calculation. Reference: March 18, 2009.

Mon, 08/08/2011 - 10:08 | 1536840 adr
adr's picture

Because it was not a bull run. It was an artificially inflated market backed by false money and the expansion of debt which can only result in a total collapse of epic proportions. Also if you look at the market in dollar terms it actually did not go up at all. Just as you can get inflation in real goods you can get inflation in stocks. The only thing that happened is that it takes more dollars to buy just about everything, the actual product didn't change its value at all.

You should read your history and look what happened to the market right after 1929. I bet people were proclaiming the crash was not the start of an economic downturn that would last and the roaring bull market of the 20s had returned. Only to completely collapse when the country realized there was no real economy and the consumption bubble of the 20s could not be sustained.

Mon, 08/08/2011 - 10:19 | 1536925 augie
augie's picture

would you mind explaining that to, say, oh i dont know, EVERYONE ELSE IN 'MERICA!?!

Mon, 08/08/2011 - 11:38 | 1537380 karzai_luver
karzai_luver's picture

ru(i)nning of the sheep.............





Mon, 08/08/2011 - 10:10 | 1536862 d00daa
d00daa's picture

hahahahahahahahahahaha someone's an extremely bitter, very trapped long.   hahahahahahahahahahaha you and foie gras should get a room.

Mon, 08/08/2011 - 10:15 | 1536872 firefighter302
firefighter302's picture

 JackEs... I have genuine pity for your inability to see the difference in Cramer and ZH.  

Mon, 08/08/2011 - 10:13 | 1536880 snowball777
snowball777's picture

Wait until you see it priced in lira!

Do you tell women how big your cock is in millimeters too?

Mon, 08/08/2011 - 10:15 | 1536898 spankthebernank
spankthebernank's picture

Jack, you are precisely the blind sheep so often referred to on this site...go back to the pasture with idiot Jimmah.  Cramer is an in your face crook.

Mon, 08/08/2011 - 10:32 | 1537009 TonyBoomBoom
TonyBoomBoom's picture

As Peter Schiff has said when looking at stock market "growth", and i'm paraphrasing here; I can open up my fridge and look at my groceries and they have outperformed the stock market.

I can't even make guacamole anymore because avocados are just so damn expensive! And I love guacamole! 

Mon, 08/08/2011 - 11:21 | 1537285 H. Perowne
H. Perowne's picture

Fail troll is failing. Also, losing, quite badly. Had Money, with Jim Cramer?

Mon, 08/08/2011 - 09:59 | 1536781 PY-129-20
PY-129-20's picture

LOL Who in the whole world would take this clown seriously?

Is he now doing his show from the Bunker set of Downfall?

Mon, 08/08/2011 - 10:00 | 1536783 Caveman93
Caveman93's picture

God this guy is an idiot. 

Mon, 08/08/2011 - 10:14 | 1536853 BlackholeDivestment
BlackholeDivestment's picture

Heaven knows that he's an idiot, you don't have to tell, it's well known. lol Caveman

Mon, 08/08/2011 - 10:00 | 1536786 Peter K
Peter K's picture

And for your viewing pleasure:

Mon, 08/08/2011 - 10:00 | 1536787 JackES
JackES's picture

to me, every time when US equity drops, ZH thinks it's reasonable and should be.

when it's up, it must be the job of PPT. ouuch, what can you say?

Mon, 08/08/2011 - 10:06 | 1536831 d00daa
d00daa's picture

what can i say?

i can say that it looks like someone is trapped long and extremely, extremely bitter.  foie gras has nothing on you.

the ass-raping you're receiving was inevitable, so you might as well just sit back and enjoy it.

Mon, 08/08/2011 - 10:10 | 1536858 buzzsaw99
buzzsaw99's picture

The truth (JackES's) butthurtzTM?

Mon, 08/08/2011 - 10:13 | 1536881 JSD
JSD's picture

Maybe you should just read ZH (or don't) and think for yourself.  That could be the answer you're looking for (or not).  However I should warn you, thinking requires some thought, and since you don't seem to be all that keen on that part of the 'equation', maybe sticking to internet posts is best.  Have a good one.

Mon, 08/08/2011 - 10:19 | 1536932 snowball777
snowball777's picture

I can say "DXY in the low 70s" and "$3T balance sheet" and "Get out of my fucking mansion, deadbeat".

Mon, 08/08/2011 - 10:22 | 1536948 The Limerick King
The Limerick King's picture

There once was a moron named Jack

Who went on a ZH attack

Is he stupid or paid?

Or drunk on kool-aid?

Or recently kicked in the sack?!

Mon, 08/08/2011 - 10:53 | 1537124 ToNYC
ToNYC's picture


All of the above and more. More spins than a Tibetan prayer wheel.

Mon, 08/08/2011 - 10:34 | 1537024 nscholten
nscholten's picture

an obvious paid poster

Mon, 08/08/2011 - 10:01 | 1536790 Russiamerica
Russiamerica's picture

Jim WHO???

Mon, 08/08/2011 - 10:02 | 1536797 Nate H
Nate H's picture

self-deception - one of the strongest narcotics known to man....(Cramer is well intentioned and smart, just not valuable)

Mon, 08/08/2011 - 10:03 | 1536804 slackrabbit
slackrabbit's picture


add this to his Bear Stearns moments

Mon, 08/08/2011 - 10:03 | 1536805 Lmo Mutton
Lmo Mutton's picture

I am bullish on America also.  just as soon as the reformation is over all will be well within a decade or three.

Mon, 08/08/2011 - 10:05 | 1536818 SAME AS IT EVER WAS

Wall streets pitch man. Period! I love how he acts so concerned about "homegamers" or "the little guys". All while he pitchs his bullshit realmoney crooksite, which it is clear as day are a bunch of cons. Just do the oppisite of what ever these (and anyone on cnbc) assclowns say. Fucking crooks should be hung up and beaten as well as every penny they have taken.

Mon, 08/08/2011 - 10:05 | 1536826 New American Re...
New American Revolution's picture

The worth of a soothsayer is to be consistent be it either right or wrong.   In Crammer's case, he's always wrong, which is ok provided you understand that he's always wrong and understand the worth of consistency.

Mon, 08/08/2011 - 10:10 | 1536859 writingsonthewall
writingsonthewall's picture






Mon, 08/08/2011 - 10:11 | 1536865 g
g's picture

Stupid ass.

Mon, 08/08/2011 - 10:11 | 1536871 quark288
quark288's picture

And today this man was calling ECB chairman "Moron" for not printing enough money!!! These are the kind of people who deserve to get fired and join the queue of unemployed and food stamps, maybe then we would have a real recovery

Mon, 08/08/2011 - 10:12 | 1536873 writingsonthewall
writingsonthewall's picture

I took one look at the market this morning and decided it's time.... GET TO THE CHOPPA!!!!!!


Ruuuuuuunn -- goooooooooooooo - get to the chopppaaaaaaaaaa


You can sing along too.

Mon, 08/08/2011 - 10:13 | 1536885 Atomizer
Atomizer's picture

Jim Cramer: "Bear Stearns is Fine!" Tues, 3/11/08

Mon, 08/08/2011 - 10:15 | 1536886 Doyle Hargraves
Doyle Hargraves's picture

Kramer says buy BAC?! Kramer says Bear Stearns is OK? Bawney Fwank says Fannie/Freddie are in good shape?! These two assclowns should have their own show on CNBC together.

Mon, 08/08/2011 - 10:15 | 1536902 Forgiven
Forgiven's picture

If the consequences weren't so serious the whole charade would be comical.  I really believe the insane are running the asylum.

Mon, 08/08/2011 - 10:16 | 1536914 Doyle Hargraves
Doyle Hargraves's picture

Whatever gave you that idea? The fact that a tax evader now oversees the IRS?

Mon, 08/08/2011 - 10:16 | 1536910 digalert
digalert's picture

Hard to defend buybuybuy Cramer when he comes on today praising the Geethner. Cramer is a sellsellsell!

Mon, 08/08/2011 - 10:21 | 1536944 anynonmous
anynonmous's picture

With CNBC the runt of the NBC/Universal litter it was a small price to pay for Comcast to agree to continue to have CNBS shill for Washington/Wall Street in exchange for approval of the acquisition.


Mon, 08/08/2011 - 10:21 | 1536946 writingsonthewall
writingsonthewall's picture

...and wherever there is an economic disaster - a Hitler bunker pardoy is not far behind!

Mon, 08/08/2011 - 10:23 | 1536954 jesusonline
jesusonline's picture

More of Cramer "brilliancy":
CNBC's Jim Cramer says ECB's president may be a "moron and a buffoon," and is not demonstrating leadership.

Mon, 08/08/2011 - 10:28 | 1536979 Stuart
Stuart's picture

I remember what he said about Bear Stearns too.....  caveat emptor

Mon, 08/08/2011 - 10:30 | 1536999 Monkeyfister
Monkeyfister's picture

It doesn't matter where Jim Cramer started, he hasn't had ANY credibility since the turn of the 21st Century-- at least.


The best advice to ever take with regard to Cramer?Whatever he says, DO THE OPPOSITE!


Why anyone takes his foolish, shill ass seriously any more is beyond me. He's never right, but always happy to take some cool cash to push a stock that's about to tank.

Mon, 08/08/2011 - 10:31 | 1537005 drawswell
drawswell's picture

Not that I'm trying to protect Kramer or anything, but there was a point not that long ago, back then, when a few people thought that they would be able to pull off a strong recovery, so...

I mean, he mentioned he likes Kirby's Fourth World stuff, so he can't be that bad....

Mon, 08/08/2011 - 10:33 | 1537017 Atomizer
Atomizer's picture

Cramer Screws Up Again, Viewers to Buy Narchovia.

Mon, 08/08/2011 - 11:02 | 1537188 OnTheFelt
OnTheFelt's picture

Is this the man?  Is this the man that threw a man thru Brian Moynihan's window?  Is this the man that put a banana in the tailpipe?  Is this the gentleman who ruined the buffet at the Harrow's club this morning?



Mon, 08/08/2011 - 11:05 | 1537207 eurusdog
eurusdog's picture

I remember when I used to get caught buying the top and selling the bottom!

Mon, 08/08/2011 - 11:12 | 1537245 boiltherich
boiltherich's picture

Seems to me back when I got my NASDQ licensure we were told that we could now legally give investment advice though it was against my sponsor company's policy in most cases, they would do the stock/investment picking thank you minions, but I recall we were also told that should our licenses be suspended or allowed to lapse as I allowed mine to that we could give a personal opinion of markets or particular stocks or investment vehicles, but be clear that it is not meant to be taken as actual investment advice, because if someone knows you are or were a stockbroker and they act on your recommendation or "advice," and they lose money at it they can sue and the more money involved the more likely they are to just that. 

It seems to me Mr. Cramer is misrepresenting himself as some kind of expert, I find him way too annoying to have ever watched him though I have come across his show when channel surfing, I can't imagine the personality type that would enjoy his program, nor do I like to think of the sad people that think he represents real investment advice.  But of course the problem is some people do think he is the real deal, and I have heard him ranting on in such a way as to lead one to believe he has some inside knowledge about future trading and pricing. 

I also seem to recall that there is a frequent disclaimer from CNBC to the effect that his opinions are not necessarily.... you know the standard disclaimer stuff.  And I have been at ZH long enough to know that a fair chunk of you believe totally in caveat emptor, with no regulatory or consumer protection at all.  But, when I see Cramer acting like a mental patient and pushing a stock or family of investments gimmicks I have to think in spite of the disclaimers he is acting as a self appointed investment advisor and CNBC is supporting him by broadcasting it.  He and the network should be as liable for losses on bad investment advice as any stockbrokerage, especially if a connection can be shown between the investments they push and any other entity that profited from them getting the public to buy (or sell) that product.

But alas, as we have seen since 2001 there is scant if any enforcement of any type or gravity of any criminal behaviors in the financial world, other than maybe three or four headline for show cases of insider trading and of course an after the theft arrest of Bernie M.  It was well know for a decade he was running a huge Ponzi but nothing was done till the scam collapsed.  Too bad, because faith in the fairness of the system is one of the cornerstones of capitalism without which it cannot operate.  No trust = no formation of pools of capital. 

Mon, 08/08/2011 - 11:15 | 1537255 Yen Cross
Yen Cross's picture

Jimmah / Timmah>  it's all ball bearings these days!

Mon, 08/08/2011 - 11:26 | 1537310 web bot
web bot's picture

Cramer scares me and here's why.

I watched the flashcrash last year as he was talking... it was unreal. If you go back and look at the tapes, he was talking about if the market were to suddenly fall... and it did.

Cramer is a great stock man... but when he talks and because he is followed so much, his comments can move markets. All you need is some 30-something geek playing with HFTs and you have massive movement. This is not healthy.


Mon, 08/08/2011 - 11:31 | 1537331 TruthInSunshine
TruthInSunshine's picture

Your village called and said that they're missing you.


Mon, 08/08/2011 - 22:22 | 1540627 web bot
web bot's picture

Obviously they have a direct line to you.

Mon, 08/08/2011 - 11:30 | 1537330 nscholten
nscholten's picture

They will need a bail out this week.  Stock down over 15%.  No short shares at Interactive Brokers

Mon, 08/08/2011 - 11:35 | 1537354 traderlite
traderlite's picture

Isn't AIG suing BA for 10 Billion??

Mon, 08/08/2011 - 11:44 | 1537411 karzai_luver
karzai_luver's picture



2 corrupt cesspools bailed out by gvt clowns sue each other in a totally corrupt paid off in-justice clown court.


Just shut the doors on both of them now call it a ZERO!


Fukin lawyers........hang them right along with the slime that run those ratholes.


Mon, 08/08/2011 - 11:40 | 1537387 robertocarlos
robertocarlos's picture

What part of "entertain" did you miss? It's the first goal. He's shorter than B-Cups. 

Mon, 08/08/2011 - 12:04 | 1537505 toxic8
toxic8's picture



Mon, 08/08/2011 - 12:12 | 1537543 lunaticfringe
lunaticfringe's picture

I will never forget this moron Cramer having Angelo Mozilo on his show and telling everyone to buy Countrywide. Mozilo was selling every share he owned. Cramer said it was his company and he was entitled to "take a little money off the table." That was the coincident moment when I quit watching this f*cktard.

Mon, 08/08/2011 - 12:32 | 1537683 JW n FL
JW n FL's picture

But! But!! But!!!

Paulson said the Free Government Money would be used to float the BANK!

Bank od the United States, anyone?

Mon, 08/08/2011 - 12:52 | 1537809 JW n FL
JW n FL's picture

AIG Sues BOA for $10 Billion Over "Massive Fraud"

The insurer American International Group Inc is suing Bank of America Corp to recover more than $10 billion of losses from a "massive fraud" on mortgage debt, deepening the morass of litigation faced by the largest U.S. bank.



Mon, 08/08/2011 - 12:48 | 1537790 Instant Wealth
Instant Wealth's picture

Around 00:31 into the vid he is sniffing at his armpit.

That is the secret insider alert: "This stock stinks - short the hell out of it."

Mon, 08/08/2011 - 13:08 | 1537913 Hugh_Jorgan
Hugh_Jorgan's picture

CNNMoney is aware of a problem with BofA, nuff' said...

Mon, 08/08/2011 - 13:16 | 1537973 Slap That Taco
Slap That Taco's picture


  Doesn't everybody here do the opposite of what he says anyway?

Mon, 08/08/2011 - 17:39 | 1539553 AlmostEven
AlmostEven's picture

At CNBC webite: "This video is temporarily unavailable." I wonder if CNBC's definition of "temporarily" is the same as Bernanke's definition of "transitory."

Mon, 08/08/2011 - 22:16 | 1540599 boiltherich
boiltherich's picture

I am surprised at this, Dow futures now down 255 and fair value down 293 for Tuesday, I would have thought short covering and margin call activity would have made the morning after something of a non event, but Nikkei is off 400 and Hang Seng over 7.2%. 

I think this will calm overnight and it will be a moderate day on US markets either way, but if it is not then there is no support level that will stop what is inevitable anyway.  Is Ben having a problem getting those helicopters warmed up? 

Wed, 09/14/2011 - 05:07 | 1667509 chinawholesaler
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