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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 #004276; text-decoration: none;"> 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 | Link to Comment Steve Evets
Steve Evets's picture

When did Cramer bash BAC?

Mon, 08/08/2011 - 10:42 | Link to Comment spiral_eyes
spiral_eyes's picture

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

http://azizonomics.com/2011/08/08/blue-monday/ 

Mon, 08/08/2011 - 09:53 | Link to Comment 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 | Link to Comment jus_lite_reading
jus_lite_reading's picture

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

Mon, 08/08/2011 - 10:06 | Link to Comment 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, TheStreet.com"

Mon, 08/08/2011 - 10:10 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment Don Birnam
Don Birnam's picture

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

http://www.thestreet.com/funds/smarter/891820.html

Mon, 08/08/2011 - 09:53 | Link to Comment 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 | Link to Comment DormRoom
DormRoom's picture

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

Mon, 08/08/2011 - 10:02 | Link to Comment 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 | Link to Comment 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 | Link to Comment swissinv
swissinv's picture

fuck off cramer bitch *apologies

Mon, 08/08/2011 - 09:54 | Link to Comment Greater Fool
Greater Fool's picture

Ah, the dreaded Jim Cramer Vote of Confidence.

Look out below!

Mon, 08/08/2011 - 10:11 | Link to Comment 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

http://www.cnbc.com/id/26708319/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 | Link to Comment 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 | Link to Comment doomandbloom
doomandbloom's picture

harakiri, bitchez

Mon, 08/08/2011 - 10:17 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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), InfoSpace.com (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 | Link to Comment 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 | Link to Comment 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 9/26/01InfoSpace.com (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.

NOTHING BUT WINNERS! DAMMIT... Y'ALL BETTER STOP TALKING BAD ABOUT ME OR I'M GONNA START CRYING... AGAIN.

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 | Link to Comment 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 | Link to Comment 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 | Link to Comment ToNYC
ToNYC's picture

 

"You need to get in the game!"

 

Mon, 08/08/2011 - 09:56 | Link to Comment RubberMartyr
RubberMartyr's picture

The Maria Bartiromo newsletter seems just as informative!

Mon, 08/08/2011 - 09:57 | Link to Comment 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 | Link to Comment 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 | Link to Comment sellstop
sellstop's picture

Kramer is very bullish on Gold too!!!

gh

Mon, 08/08/2011 - 09:58 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment karzai_luver
karzai_luver's picture

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

 

bwhahahaaaaaaaaaaaaaaaaaaaa

 

 

Mon, 08/08/2011 - 10:10 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment Caveman93
Caveman93's picture

God this guy is an idiot. 

Mon, 08/08/2011 - 10:14 | Link to Comment BlackholeDivestment
BlackholeDivestment's picture

http://www.youtube.com/watch?v=5Q-8wbOTARg

Heaven knows that he's an idiot, you don't have to tell, it's well known. lol Caveman http://www.youtube.com/watch?v=xWjMMJR0_wk&feature=related

Mon, 08/08/2011 - 10:00 | Link to Comment Peter K
Peter K's picture

And for your viewing pleasure:

http://www.youtube.com/watch?v=xLUvP9ycDx0

Mon, 08/08/2011 - 10:00 | Link to Comment 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 | Link to Comment 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 | Link to Comment buzzsaw99
buzzsaw99's picture

The truth (JackES's) butthurtzTM?

Mon, 08/08/2011 - 10:13 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment ToNYC
ToNYC's picture

 

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

Mon, 08/08/2011 - 10:34 | Link to Comment nscholten
nscholten's picture

an obvious paid poster

Mon, 08/08/2011 - 10:01 | Link to Comment Russiamerica
Russiamerica's picture

Jim WHO???

Mon, 08/08/2011 - 10:02 | Link to Comment 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 | Link to Comment slackrabbit
slackrabbit's picture

Lol

add this to his Bear Stearns moments

Mon, 08/08/2011 - 10:03 | Link to Comment 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 | Link to Comment SAME AS IT EVER WAS
SAME AS IT EVER WAS's picture

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 | Link to Comment 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 | Link to Comment writingsonthewall
writingsonthewall's picture

BUY BEAR STEARNS - BUY IT - IT'S A BARGAIN! - TOP TIP - CAN'T TELL YOU WHERE IT CAME FROM.

 

NO PROBLEM WITH LIQUIDITY - IT'S NOT IN TROUBLE - DON'T MOVE YOUR MONEY - THAT WOULD BE SILLY!

 

....am I too late?

 

http://www.youtube.com/watch?v=gUkbdjetlY8

 

 

Mon, 08/08/2011 - 10:11 | Link to Comment g
g's picture

Stupid ass.

Mon, 08/08/2011 - 10:11 | Link to Comment 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 | Link to Comment writingsonthewall
writingsonthewall's picture

I took one look at the market this morning and decided it's time....

 

...to GET TO THE CHOPPA!!!!!!

 

 

http://www.youtube.com/watch?v=LYsoYtKLCIU

 

Ruuuuuuunn -- goooooooooooooo - get to the chopppaaaaaaaaaa

 

You can sing along too.

Mon, 08/08/2011 - 10:13 | Link to Comment Atomizer
Atomizer's picture

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

http://www.youtube.com/watch?v=gUkbdjetlY8

Mon, 08/08/2011 - 10:15 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment writingsonthewall
writingsonthewall's picture

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

 

http://www.youtube.com/watch?v=sCmfHESTOpY

Mon, 08/08/2011 - 10:23 | Link to Comment 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.
http://video.cnbc.com/gallery/?video=3000037836

Mon, 08/08/2011 - 10:28 | Link to Comment Stuart
Stuart's picture

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

Mon, 08/08/2011 - 10:30 | Link to Comment 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 | Link to Comment 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 | Link to Comment Atomizer
Atomizer's picture

Cramer Screws Up Again, Viewers to Buy Narchovia.

 http://www.youtube.com/watch?v=t4Fa7X7g3zU&feature=related

Mon, 08/08/2011 - 11:02 | Link to Comment 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?

LMFAO!!!!!

 

http://www.youtube.com/watch?v=NKPXixjougM

 

Mon, 08/08/2011 - 11:05 | Link to Comment 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 | Link to Comment 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 | Link to Comment Yen Cross
Yen Cross's picture

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

Mon, 08/08/2011 - 11:26 | Link to Comment 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 | Link to Comment TruthInSunshine
TruthInSunshine's picture

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

 

Mon, 08/08/2011 - 22:22 | Link to Comment web bot
web bot's picture

Obviously they have a direct line to you.

Mon, 08/08/2011 - 11:30 | Link to Comment 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 | Link to Comment traderlite
traderlite's picture

Isn't AIG suing BA for 10 Billion??

Mon, 08/08/2011 - 11:44 | Link to Comment karzai_luver
karzai_luver's picture

Perfect........

 

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 | Link to Comment 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 | Link to Comment toxic8
toxic8's picture

THE FORMER PRESIDENT OF THE WORLD BANK, JAMES WOLFENSOHN, MAKES STUNNING CONFESSIONS AS HE ADDRESSES GRADUATE STUDENTS AT STANFORD UNIVERSITY. HE REVEALS THE INSIDE HAND OF WORLD DOMINATION FROM PAST, TO THE PRESENT AND INTO THE FUTURE. THE SPEECH WAS MAS MADE JANUARY 11TH, 2010. THE NEXT 19 MINUTES MAY OPEN YOUR MIND TO A VERY DELIBERATE WORLD.

HE TELLS THE GRAD STUDENTS WHAT'S COMING, A "TECTONIC SHIFT" IN WEALTH FROM THE WEST TO THE EAST. BUT HE DOESN'T TELL THE STUDENTS THAT IT IS HIS INSTITUTION, THE WORLD BANK, THAT'S DIRECTING AND CHANNELING THESE CHANGES.

 

http://www.youtube.com/watch?v=mOwZwkhFemQ&list=FLrE9Vd0Mnol4&index=1

Mon, 08/08/2011 - 12:12 | Link to Comment 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 | Link to Comment 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? http://en.wikipedia.org/wiki/Bank_of_United_States

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

http://www.insurancetech.com/regulation/231300375?cid=nl_ins_daily

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.

 

BTFD!

Mon, 08/08/2011 - 12:48 | Link to Comment 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 | Link to Comment Hugh_Jorgan
Hugh_Jorgan's picture

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

 

http://money.cnn.com/2011/08/08/news/companies/bofa_aig/

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

But...

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

Mon, 08/08/2011 - 17:39 | Link to Comment 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 | Link to Comment 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 | Link to Comment chinawholesaler
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