Jim Cramer Credibility Problem Part Deux
Well Don is at it again.. another video highlighting the hypocrisy of Jim Cramer. If Cramer had any credibility left, this might just be the video to remove every last ounce of it. In September of last year he actually said in a Street.com interview that the Fed should do nothing with interest rates and that if the market dropped 1000 points then so be it. We all know what happened after that.. the infamous "they know nothing" rant, the giddy cheerleading when the Fed did cut rates and calls for big bull market runs after the biggest cuts.. This is worth a look.
Rick Santelli Calls Out Cramer
I couldn’t resist posting this. One of the best exchanges I have EVER seen on CNBC – Rick Santelli dishing it to Cramer for being bullish for so long. Cramer seems to pride himself on admitting when he’s wrong. So why can’t he admit he blew it when he repeatedly called out 14,500 and recommended the likes of Google and Baidu near their tops? This guy Don Harrold is the Tivo CNBC master and recently posted this gem.
Cramer Has a Credibility Problem
I’ve avoided Jim Cramer bashing here on this blog because he gets it from all sides elsewhere but I wanted to post this video from Don Harrold. Don is a colorful guy and he puts together some great videos that I’ve enjoyed watching over the past several months. In this video he once again highlights Jim Cramer’s flip flopping recommendation on how to play the market. I personally don’t have a problem with Jim making a bad call. When you make that many calls and all eyes are on you, you’re going to have some big misses. That’s fine, we all make bad calls. What I do have a problem with is, as Don points out so well, is the constant change of viewpoints. When the market is rallying and at all time highs he continued to pound the table to buy stocks rather than urging some caution. Understand Jim you have lots of new investors hanging on your every word. Be responsible. Then don’t completely reverse your recommendation after a market selloff. You’ve lost any credibility you had left.