Baseball Crank
Covering the Front and Back Pages of the Newspaper
August 17, 2007
BUSINESS: Ahead of his Time

Posted by Dr. Manhattan

In light of today's surprise reduction in the Federal discount rate, it is worth re-watching (or watching, if you haven't seen it yet) Jim Cramer's famous meltdown on CNBC demanding this action:

Personally, I have always enjoyed watching Cramer on TV. While watching his show for investing guidance is like reading Playboy for the articles, there is something charming about watching someone so unconventionally (read: "not") telegenic succeed on TV by acting like (by all accounts) himself.

Posted by Mike Rogers at 4:05 PM | Business | Comments (6) | TrackBack (0)
Comments

Shameful meltdown, hard to believe he ever ran real money. Barron's has a cover story on his recommendations. The takeaway, he is entertainment, not investment advice.

Posted by: abe at August 18, 2007 11:19 AM

There are a lot of Cramer "haters" out there who insist his stock picks are weak. The bottom line, however, is that he's proven. He played the market and "won." This Harvard Law grad is fun to watch.

Posted by: John at August 20, 2007 1:25 PM

C'mon. He "succeeded" by using shady tactics to pump and dump stocks in the late 80's and early 90's. Plus a lot of his tips come from his contacts inside the companies he's reviewing. The SEC may not have found him guilty of insider trading, but it smells like it to me. And for all of this, his picks can't even beat the market consistently.

Posted by: The Deacon at August 20, 2007 4:02 PM

After the discount rate cut, he was on CNBC before the market opened predicting that the market would set a record that day for largest one day point gain.

Uhhh, oops. Swing and a miss.

Posted by: stan at August 20, 2007 11:03 PM

Exactly Deacon. Jim Cramer would absolutely fail as a hedge fund manager today. He pushed the envelope and gamed the system in a Pre Reg FD world. In the current market he cannot generate alpha. Hence his career as stand up comedian. Would anyone truste a guy as emotionally out of control as the linked video shows? He melted, imagine the scene if he was running a desk. Got to wonder if he would have gone out a window.

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Posted by: pumps italian water at August 30, 2007 7:26 PM
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