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A Classic Video from Jim "Mad Money" Cramer: "Bear Stearns Is Fine!" March 11, 2008

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March 27, 2008 – Comments (4) | RELATED TICKERS: BSC.DL , GLD , JPM

I am sure this has been posted, but just incase anyone missed it.

On Monday, March 11, 2008, the CEO of Bear Stearns told the public that the company had no liquidity problem. The stock rose from $60 to $68.

On that day, Jim Cramer gave us this bit of wisdom.

On Sunday, March 17, the New York Federal Reserve Bank oversaw a buyout of Bear by J. P. Morgan Chase at $2 a share.

 

4 Comments – Post Your Own

#1) On March 27, 2008 at 6:11 PM, Deliman8 (23.61) wrote:

Well... at least he was right that they would be taken over

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#2) On March 27, 2008 at 6:26 PM, abitare (94.81) wrote:

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#3) On March 27, 2008 at 7:01 PM, XMFSinchiruna (27.52) wrote:

That's pretty classic Cramer right there.  :)  I just posted 2 videos to my blog; The Daily Show making light of the whole thing.  Pretty funny stuff, provided you weren't a Bear stockholder.

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#4) On March 27, 2008 at 10:31 PM, wm052 (31.12) wrote:

The dangers of blindly following a guru. Earlier in the year he said to avoid brokerages too (except his alma mater GS)

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