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Jim Cramer: The Flip-Flop that Ought to be Illegal

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July 02, 2008 – Comments (16) | RELATED TICKERS: CRM , SFK , SRS

"They Sow the Wind, and Reap the Whirlwind"

Hosea 8:1-14

I am not here to judge Jim Cramer. I understand how he makes his living. He is an entertainer, a stock promoter and a paid shill. His track record is known to anyone that takes 10-20 minutes to look it up. It is shown here on CAPS. Barrons wrote a less then positive peice about him Sept 07 after he threw a tantrum for more monary inflation from the FED. I wrote an overview on JC 10 May 08 here. ( ref May 10, 08. FIN 101: Spotting Gurus, Paid Liars, Fools and Cheerleaders)

I like Jim Cramer, because he attracts troubled CEOs (ref my CRM pitch) and dumb money. One of the best ways to spot a liar is to watch him talk or answer questions on TV. Jim Cramer attracts them.

I like Don Harold for putting the video together, but "They sow the wind and reap the whirlwind.". Those that blindly follow a paid shill are "reaping the whirlwind".

 

Again, this another find brought out by Gary North. Ref my 27 Jun post on Gary North. GN provided a link for a free trial. http://www.dailyreckoning.com/Sub/GetReality2.html

FYI - abitarecatania and abitarePERFECT are at 99%. abitarePERFECT might make Top Ten if market sell off continues. PERFECT is loaded with short and Ultra short ETFs. 

 

16 Comments – Post Your Own

#1) On July 02, 2008 at 6:20 PM, kdakota630 (29.54) wrote:

LOL!  Hilarious!

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#2) On July 02, 2008 at 6:20 PM, zygnoda (27.27) wrote:

Unfortunately, I learned the hard way that this guy is a moron.  I got his book this year as a present.  I wasn't pleased. 

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#3) On July 02, 2008 at 6:43 PM, Collin757 (< 20) wrote:

Eye Opener.

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#4) On July 02, 2008 at 7:38 PM, hansthered0 (< 20) wrote:

People ask me why I hate TV.....lemmings of the world untie.

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#5) On July 02, 2008 at 8:34 PM, lquadland10 (< 20) wrote:

You and many others made my day. I was rolling on the floor laughing. Sent it to some of my friends. Is he a cfr member? Na he is just getting desperate.

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#6) On July 02, 2008 at 10:09 PM, russiangambit (29.27) wrote:

To be fair to Jim here, everything was down last 2 weeks. You could short any stock and you would've made money. The only thing that went up is commodities. Solar is down, oil is down, industrials are down, agriculture is down, financials are down (btw, looks like they bottomw yesterday). Every time oil goes up $1, airlines go down 10%. Dalring MA is down shocking 20%

It is painful to watch CNBC people trying to find stocks to recommend because they cannot recommen shorting to retail investors. Shorting is risky, did you know that? Well, investing in stocks in bear market is even riskier.

And so while retail investors are trying to find things to buy, financial professionals short their hearts out. Many stocks are shorted to 30-50% of float for now reason. They can do it now beause there is no more uptick rule.  And CNBC is looking for stocks to buy? First, stop shorting them. It is madness.

I think I am done. Thank you for listening.

As for Jim's recommendations, some of them are solid, but you nede to wait for a few months to buy them , when the hype does down. It is usually too late to buy when he makes his recommendation and it pays to fade it.

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#7) On July 02, 2008 at 10:36 PM, AnomaLee (28.62) wrote:

I used to enjoy watching Mad Money about three years ago for the same reasons you stated (CEO interviews, and others) but it's lost its touch over the years since.

I think you can find more interviews on Bloomberg than on any source. Bloomberg is far more news oriented and everything on CNBC is based on advertisement....

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#8) On July 02, 2008 at 11:35 PM, abitare (34.56) wrote:

ALCON,

Thank you for the replies.

russiangambit,

I hope you have a billion dollars to invest. 

"everything was down last 2 weeks. "

No, look at my portfolio or abitareperfects. Or you can look at my portforlio on www.updown.com - same name abitarecatania.

"Shorting is risky, did you know that?"

Who told you that? Cause you need to do punch him in the nose. What does that mean? Going outside is risky. Driving a car is risky....

Being dumb is risky. I own SKF and SRS. SKF is up 50% since I bought it six months ago. SKF is an ETF.

Please explain why these two ETFs are more risky then MA? You cannot right? Because you are financially illiterate. Right? You have NO IDEA, what you are talking about. Right? You just watched CNBC and now you are in a game, you think you understand, but you do not. Right?

"Jim's recommendations, some of them are solid,"

Some of my dart throwing monkeys stock picks are solid also. In fact, since Jim does NOT outperform the market and is LESS then 50% accurate, I would stick with the monkey.  

AnomaLee,

IMO CNBC is for kids, it is a 24x7 GoldmanSac's infomercial. Bloomberg is for adults. 

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#9) On July 03, 2008 at 12:15 AM, russiangambit (29.27) wrote:

> "Shorting is risky, did you know that?"

Who told you that? Cause you need to do punch him in the nose. What does that mean? Going outside is risky. Driving a car is risky....

Being dumb is risky. I own SKF and SRS. SKF is up 50% since I bought it six months ago. SKF is an ETF.

 ---------------------------------------------------------------

abitarecatania, do you understand sarcasm?  This is exactly what I meant, only shorting works right now , but Wll Street doesn't say so, they want to keep this for themselves.

I have all those ETFs too, SDS, QID, DXD etc. in my IRA, since it doesn't allow shorting. A bit tricky, though,  with Ultrashort ETFs you need to get out for a day after a big sell off , like today for example.

Cheers.

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#10) On July 03, 2008 at 2:43 AM, jester112358 (28.80) wrote:

Absolutely hilarious video post-keep up the good work.  You really have to take Cramer with a very big grain of salt.  After all,  he was once gung ho for crocs.

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#11) On July 03, 2008 at 3:01 AM, abitare (34.56) wrote:

russiangambit,

Disreguard. I can eat crow. :)

jester112358,

To be fair on CROX. I saw JC wearin CROX in a PROMO, but I never heard his discussion of the stock. I did hear Fast Money's K Fine go "Long CROX".  

 

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#12) On July 03, 2008 at 1:11 PM, TheParadox (91.96) wrote:

Funny stuff... purely a classic in the making.

 Im sure everyone has a flip flop momement, but i mean, he sounded so enthuastic about his buy buy buy... its an embarassment, all on nation TV and YouTube.

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#13) On July 03, 2008 at 4:19 PM, awallejr (81.56) wrote:

Well as I said to you before Abitare, I do find some of your blogs amusing, and this is a classic.  Good job there.  I actually did watch that show and took a shot with buying SPY calls to see if there would at least be a short term rebound off his oscillator theory.  SPY did nothing, so I sold it for a few hundred dollar loss, and then the market tanked the next day.

I kind of stopped listening to many things he said after I watched two shows where he spent time touting PRGN and NAT,  Then a couple weeks later he was asked about both stocks on the same show and he brushed them off.  I honestly believe that he doesn't remember half the things he says;  afterall it really is hard to follow all the companies he talks about with any real care. 

Take him with a grain of salt, listen at least to his suggestions, which might be companies you may never have thought about and do your OWN research before buying. But never ever buy any of his suggestions the next day.

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#14) On July 03, 2008 at 10:47 PM, abitare (34.56) wrote:

FYI - Don Harold is making fun of Cramerica again:

SPW: Cramericans Learned a Lesson

 

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

 

 

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#15) On July 06, 2008 at 10:32 PM, lquadland10 (< 20) wrote:

lol

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#16) On July 26, 2008 at 4:37 AM, eskatonic (29.18) wrote:

the best cramer shows are the ones when he is on vacation.  he tapes those shows ahead of time and they focus on investing theory instead of pumping any particular stocks.

 

the real purpose of the show is not to make you money, but to pump his books and his actions alert plus newsletter.  on the show he tells you when to get in, but he never says when to get out.  gee sounds like every broker I've ever had.  for the sell signals you need to sign up to his newsletter.

 

there are also some good rules for watching the show.  pay attention to the prepared segment.  see if you it gets your mind going because it is usually 'this stock is good because X Y and Z'.  take your own brain and see where the X Y and Z thinking might take you for other stocks.  ignore all the other segments, especially Lightning Round, Sudden Death, and Am I Diversidifed since by definition none of these segments is long enough to actually do into depth.  would you buy a new house based on a 30sec sprint through it?   also, commercials get more frequent as the show progresses (just like with fast money) so really you can just watch the first 15 min or so and then go do something else.

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