Horse Racing Forum - PaceAdvantage.Com - Horse Racing Message Board

Go Back   Horse Racing Forum - PaceAdvantage.Com - Horse Racing Message Board > Off Topic > Off Topic - Trading The Financial Markets


Reply
 
Thread Tools Rate Thread
Old 10-04-2023, 11:28 AM   #1
Half Smoke
Registered User
 
Half Smoke's Avatar
 
Join Date: Feb 2019
Posts: 1,266
Jim Cramer investment gury

.
I see him on TV just about every day being pumped up by CNBC in commercials for his show and commentary and recommendations

I most definitely will not be going with the various strategies he touts

here are some interesting facts about him from Wiki:


"An August 20, 2007, article in Barron's stated that "his picks haven't beaten the market. Over the past two years, viewers holding Cramer's stocks would be up 12% while the Dow rose 22% and the S&P 500 16%."[43] Cramer was criticized for repeatedly giving erroneous advice during the Financial crisis of 2007–2008. He recommended investing in Bear Stearns, Merrill Lynch, Morgan Stanley, Wachovia, and Lehman Brothers before the stocks fell in value significantly and several went out of business. On August 8, 2008, before the climax of the financial crisis of 2007-2008, Cramer recommended investing in bank stocks.

A February 9, 2009, article in The Wall Street Journal said that betting against Cramer's Buy recommendations using short-term options could yield 25% in a month.

A study by Wharton researchers Jonathan Hartley and Matthew Olson found that in the timeframe of August 2001 to March 2016, Cramer's charitable trust underperformed the S&P 500 primarily as a result of underexposure to market returns in years after the 2008 financial crisis. As of March 31, 2016, Cramer's trust since inception had a cumulative return of 64.5%, whereas the S&P 500 fewer dividends returned 70% during the same timeframe.

On the March 11, 2008, episode of Cramer's show Mad Money, a viewer submitted the question "Should I be worried about Bear Stearns in terms of liquidity and get my money out of there?" Cramer responded "No! No! No! Bear Stearns is not in trouble. If anything, they're more likely to be taken over. Don't move your money from Bear.

An article by author Michael Lewis for Bloomberg News said that TheStreet listed Bear Stearns as a "Buy" at $62 per share on March 11, 2008, which was the same day as the caller's question and a day before the collapse of Bear Stearns

On March 12, 2009, Cramer appeared on The Daily Show with Jon Stewart.[35] Stewart reiterated earlier claims regarding the CNBC host's "silly and/or embarrassing and/or stupid financial observations."[35] Moreover, he said CNBC shirked its journalistic duty by believing corporate lies rather than being an investigative "powerful tool of illumination".[76] Cramer disagreed with Stewart on a few points, but acknowledged that he could have done a better job foreseeing the economic collapse: "We all should have seen it more."

Stewart also said short-selling was detrimental to the markets and investors. Cramer agreed that short-selling was detrimental, stated his opposition to it, and said that he had never engaged in it. This contradicted earlier statements in which he described going short while managing a hedge fund. In a December 2006 interview from TheStreet's "Wall Street Confidential" webcast, Cramer said, "A lot of times when I was short at my hedge fund. ... When I was positioned short—meaning I needed it down—I would create a level of activity beforehand that could drive the futures."[60] He said, "I will say this: I am trying to expose this stuff, exactly what you guys do, and I've been trying to get the regulators to look at it

However, Stewart played several video clips from 2006 where Cramer discussed the spreading of false rumors to drive down stock prices and encouraged short-selling by hedge funds as a means to generate returns.[78] At one point in a clip from December 22, 2006, he said, "I would encourage anyone in a hedge fund to do it." He called it a very quick way to make money and very satisfying. He continued, "By the way, no one else in the world would ever admit that, but I don't care, and again, I'm not gonna say it on TV."[35] Stewart responded, "I want the Jim Cramer on CNBC to protect me from that Jim Cramer."[35] Cramer again admitted that he could do better and that he should try to change. The interview ended when Stewart pointedly suggested: "Maybe we can remove the 'financial expert' and the 'In Cramer We Trust' and start getting back to fundamentals on the reporting, as well, and I can go back to making fart noises and funny faces." Cramer responded: "I think we make that deal right here".'



https://en.wikipedia.org/wiki/Jim_Cramer


.
__________________
believe only half of what you see.....and nothing that you hear..................Edgar Allan Poe
Half Smoke is offline   Reply With Quote Reply
Old 10-04-2023, 01:10 PM   #2
Bustin Stones
Registered User
 
Bustin Stones's Avatar
 
Join Date: Jan 2022
Posts: 774
If I wanted to dump hundreds of millions dollars of a stock and I didn't want it to plummet as a result so I could get out for the max money, I'd pay someone like him 25k to tout the stock repeatedly on air.
This is why people should not take their specific investment advice from media personalities.
It's also why people should not take racing picks from on air personalities.
Too often you find yourself playing against the insiders. Which isn't to say that every on air person is taking, but a listener cannot be certain who or which info is real. Better to do your own research.
And general advice is fine, just be careful about very specific info.
Bustin Stones is offline   Reply With Quote Reply
Reply




Thread Tools
Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

» Advertisement
Powered by vBadvanced CMPS v3.2.3

All times are GMT -4. The time now is 06:09 AM.


Powered by vBulletin® Version 3.8.9
Copyright ©2000 - 2024, vBulletin Solutions, Inc.
Copyright 1999 - 2023 -- PaceAdvantage.Com -- All Rights Reserved
We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program
designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sites.