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Cramer proves he's a buffoon once again

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October 11, 2007 – Comments (3)

"It's time to ignore sideline analysts who have been consistently wrong about Google, Jim Cramer told viewers of his "Mad Money" TV show Wednesday. Every time Google's stock rises, bears scream that it's expensive and scary. At every benchmark, people have said that Google's market growth is too high. "At this point, you have a duty to yourself and a duty to your wealth," Cramer said, "never to take financial advice from anyone who doesn't recommend Google."

Think about how stupid that statement is. Oh, and check out this banana-peeler's caps record: LESS ACCURATE THAN A COIN FLIP.

Only thing he knows how to do well is self promotion.

3 Comments – Post Your Own

#1) On October 11, 2007 at 8:23 AM, TMFBent (99.81) wrote:

Maybe I need to take that back. I apologize, sincerely, to all those furry simians I have slighted with that "banana peeler" crack. My guess is that a monkey with a dart board could probably achieve 50% pick accuracy.

(Also note that the only reason Cramer's raw point score is so high is that the Caps team lets him "cheat" and have as many picks as he wants. Unlike regular players, who have a 200-pick limit, he's got unlimited virtual capital, and that juices his caps score to a huge degree.)

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#2) On October 11, 2007 at 10:34 AM, HatchingPlans (37.08) wrote:

kramer is a bit misguided. seeing him talk a few times, it seems his philosophy is "the person who talks the loudest is right"...

he uses a lot of big words and financial mumbo jumbo that means absolutely nothing, kind of like a car mechanic who uses unnecessarily big words to try to sound smart, even though you have this vague sense in the back of your head that you're getting ripped off.

his high score comes from putting these two things together, having a very stong influence on noobish investors, enough for them to listen and buy in after him. 47% accuracy is awful, and while he makes a few good picks (and brags about them) he makes even more awful picks.

p.s. i don't recommend google, nor do i recommend any other water cooler stocks. i'm such a terrible investor. nobody should ever take advice from me. ever.

thanks for the laughs bent!

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#3) On October 11, 2007 at 11:01 AM, AnomaLee (28.54) wrote:

Oh, come on. Afterall, Google WAS a great investment, but Jim Cramer is like most of Wall Street analysts:

They only talk about stocks that "they" can easily liquidate. So, I guess if you're a CAPs player with a $200 million+ to put somewhere. Google is just a decent place as many of your limited options to put a chunk into. 

Besides the fact I shy away from major analysts, Jim Cramer IS entertainment.

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