How can I not upload this video clip!!!
For once Jim Cramer talked some sense! oO
ps: I wonder what he smoked! LOL!
Showing posts with label Jim Cramer. Show all posts
Showing posts with label Jim Cramer. Show all posts
Wednesday, June 16, 2010
Jim Cramer Calls This A Bad Rally!
Wednesday, August 19, 2009
Oooohh... It's Squeaky Bum Time Again!
LOL! Don't you wonder when you see headlines like 'Buy Stocks Now .. if You Can Hold on for 3 Years"
- "Asian markets had a good run, valuations perhaps look a little rich, but if you take a three-to-five year view, I am fairly confident that markets will end on a higher note over that period and investors can make decent returns," said Menon on CNBC Asia's Protect Your Wealth.
Yeah I wondered to myself. "Valuations 'perhaps' look a little rich." Hmm.. the word 'perhaps' is sounding mighty huge now and most of the time, when experts says 'a little rich' I do note that they tend to under-estimate the situation and in such cases, 'perhaps a little rich' could very well mean 'extremely rich'.
LOL!
However since I am not an expert I could be wrong.
Anyway.... where are we?
So if valuations are a little rich... why can't we wait? Is waiting never ever an option for the stocks?
Yeah, Menon did mention 'for the next 12 months by gradually into the market'....
but... but... but.... if valuations is a little rich... why can't I wait?
Let's see, the EPL season has just started, and I could dabble with my fantasy league team, yes? That could be really fun, much fun than buying and praying that this would not be the start of the next big correction. (hey.. who is that bugger that said fbm klci could handle a 50 point drop? :p )
And I know I should be real worried when I see the next article!
Cramer: Is the 'Correction' Over?
Omigosh!
It's mad money time again!
LOL!
I like the last line... "Every argument the bears had for selling,” Cramer said, “has been totally rebutted by this great market."
LOL!
Market is always great when one winning money!
No?
So how now my dearest?
ps: how nice... fbm klci closed down 8.88 pts at 1155. Cantik or what? :P
Sunday, March 15, 2009
Cramer vs Stewart: The Saga Continues
One of the hottest issue is centered on the video-rama on Jon Stewart and Jim Cramer. See Jon Stewart Tells Jim Cramer F*** You!
And it now seems that Patrick Byrne, CEO of Overstock, is sending emails to his clients. The following is the content as posted here: Overstock CEO Calls Jim Cramer a “Criminal.”
- Dear Honored Client,
We take seriously our duty to save you money. We know the current financial crisis is of concern to many of you. If so, you may find this interesting. Otherwise, please just enjoy your shopping.
In recent weeks, “The Daily Show”’s Jon Stewart has exposed TV personality Jim Cramer as a liar (see these recent clips, 1 2 3). But I think he’s worse: I think he’s a criminal.
If that sounds hard to believe, please see this video (which Jim did not expect to reach the public) of Jim Cramer bragging about using the press to manipulate the stock market illegally. For a full analysis of the career of Jim Cramer, please read my essay: “Jim Cramer is a Complicated Man.”
Warren Buffet says that, “If you ever sit down at a poker table and in 15 minutes haven’t figured out who the pigeon is, you’re the pigeon.” Similarly, if you are getting any advice from Jim Cramer or CNBC, you are the pigeon. CNBC is a 24/7 hedge fund infomecial designed to trick you into making bad investments for the benefit of hedge funds. Again, watch the tape of Jim. Then read the critique. Then turn off CNBC.
Or else, just ignore this message and enjoy your shopping.
Most respectfully,
Patrick M. Byrne, PhD
CEO, Overstock.com
patrick@overstock.com
The critique titled Jim Cramer is a Complicated Man should be read in full. For it details in length what Cramer has done!
And here is the famous Stock Market Manipulation video again. As the person who hosted the video wrote "A candid Jim Cramer talks about the lies he uses to manipulate the market on TheStreet.com TV. "
And do read the following: Cramer vs. Stewart: Post-Fight Analysis and Stewart vs. Cramer: A One-Sided Smackdown
- Jon Stewart wasn't trying to be funny.
Jim Cramer wasn't trying to be obnoxious.
The result was riveting, if not particularly hilarious, television, with Stewart dominating all the way.
In their much-anticipated, much-ballyhooed faceoff on last night's "Daily Show," Stewart became "Crossfire Jon," the avenging media critic, demanding to know why CNBC failed so badly in warning us, the investing public, of the looming meltdown. He was mad and loaded for Bear Stearns.
"CNBC could be an incredibly powerful tool of illumination," Stewart declared, but instead was selling "snake oil." (So was he, said Jon, but he wasn't promising to make people money.)
The odd thing was that Cramer, a confident ex-trader who bows to no one in the bombast department, barely defended himself or his network. He said he'd made mistakes. He said he wished he'd done a better job. He pointed out that CNBC has some good reporters but never really made the case for how they've reported aggressively on Wall Street.
"I am trying to expose this stuff. . . . We could do better. There are shenanigans and we should call them out."
Cramer was playing rope-a-dope while Stewart swung away. Jim seemed more concerned with being liked than justifying what he does for a living.
It was a mismatch.
Stewart got him on the defensive by playing a 2006 tape in which Cramer explained how traders gamed the system and seemed to say he had used such techniques in his Wall Street days.
Cramer maintained that he himself had been the victim of deception. "I had a lot of CEOs lie to me on the show. It was very painful," he said.
"You're pretending you're a dew-eyed innocent," Stewart shot back.
Cramer said he had a Wall of Shame. He said he had called Hank Paulson a liar. He said there was a market for an entertaining business show like his.
The Mad Money man refused to get mad. Each time he tried to sound reasonable, the Comedy Central man ratcheted up his level of indignation.
"You knew what the banks were doing and were touting it for months and months," Stewart said. "It was disingenuous at best and criminal at worst."
Actually, Cramer didn't know. Neither did most financial journalists. They should have been more aggressive in challenging the highly leveraged banks, the credit default swaps, the Washington regulatory cops who slept on the beat. But they were as stunned as anyone when Bear and Lehman went under and AIG and Citi had to be rescued.
Finally, Stewart hurled a charge that I was sure would prompt a rousing defense from Cramer, who views himself as the former insider looking out for Joe Investor. Stewart suggested that CNBC was catering to its Wall Street audience. "Which side are they on?" he demanded.
Cramer remained meek. He had been "late" in blowing the whistle. He agreed to improve and they shook hands. The lecture was over.
Perhaps Cramer's goal was to avoid being further ridiculed, to escape with his dignity intact. Perhaps he thought Stewart would overreach and come off like a scold. But the bottom line was that Stewart, on his home court, was in control the whole way. Cramer never landed a punch, not even a good-natured jab.....
Do read the rest of the above article from Washington Post here
Don Harold reckons Jon Stewart was too kind.
This was the recommended video from Don on Jim Cramer.
And the following clip shows Cramer whining about Stewart and insist that Stewart is nothing but a commedian!
However, after seeing the face-off between Cramer and Steward (I'm also amazed that Cramer did the show too!) , Don posted another video-clip!
Saturday, March 14, 2009
Jon Stewart Tells Jim Cramer F*** You!
Now this blog has featured Jim Cramer before.
March 18th 2008: The Market, The Bear and Jim Cramer!
June 26th 2008: Yet Another Reason Why Many Don't Like Jim Cramer
And here is the face off between Cramer and Jon Stewart!!!
Part 1.
Part 2
Part 3 - love this the best!
Thursday, June 26, 2008
Yet Another Reason Why Many Don't Like Jim Cramer
ps.
His Buy, Buy, Buy thingee... who does it reminds us of?
Tuesday, March 18, 2008
The Market, The Bear and Jim Cramer!
Said on MSNBC news, Stunning collapse of Bear Stearns hasn’t calmed fears of more bad news
- “What we're in here is the closest thing we've seen to a bank panic since the Depression,” said Senate Banking Committee Chairman Charles Schumer, D-N.Y
- Election Year Bailouts
As this is a presidential election year, the level of questionable decision-making is sure to escalate. The legislature is currently preparing numerous bills to “help out the little guy.” The reality will likely be a bailout of the financial system on the backs of the taxpayer. The problem is finding the hundreds of billions of dollars, if not trillions, necessary for these and other proposed programs. The taxpayer is pretty well tapped out. The US is already borrowing over two billion dollars every day from foreign creditors. The $400 billion federal deficit will likely expand rapidly. Foreign holdings of Federal debt reached 45% in 2007. Will foreigners continue to purchase a depreciating asset at these levels in future years?
As the economy continues to slow, so will income tax receipts. This will only lead to more Fed money creation out of thin air, leading to a still weaker dollar and more commodity inflation.
The theme here is that the more intervention by the Federal Reserve and the government, the worse the situation becomes. Without the checks and balances of a sound money system, the Fed has no limitations on its actions. Watch for the bailouts. They are on the way, and your wallet is the target. And following bailouts, looming on the horizon are new regulations, tax increases and capital controls.
Bailouts in an election year are an entirely predictable response of political self-preservation. The aftermath in 2009 and beyond is not of current concern. Continued dollar destruction and growing inflation are problems for future years. Unfortunately, the Federal Reserve and Congress will make these problems much worse through their “heroic” rescue efforts.
John Mauldin's has a different take in his editorial, Let's Get Real About Bear.
Firstly, it's not a bailout, it's a wipeout!
- But that is not what has happened. This is not a bailout. The shareholders at Bear have been essentially wiped out. Note that a third of the shares of Bear were owned by Bear employees. Many of them have seen a lifetime of work and savings wiped out, and their jobs may be at risk, even if they had no connection with the actual events which caused the crisis at Bear. Don't tell them there was no moral hazard.
For all intents and purposes, Bear would have been bankrupt this morning. The $2 a share offer is simply to keep Bear from having to declare bankruptcy which would mean a long, drawn out process and would have precipitated a crisis of unimaginable proportions. Cue the lawyers.
And John reckons that the markets would have crashed!
Well, a run on the fifth largest bank in the United States would have indeed dire consequences!
- If it was 2005, Bear would have been allowed to collapse, as the system back then could deal with it, as it did with REFCO. But it is not 2005. We are in a credit crisis, a perfect storm, which is of unprecedented proportions. If Bear had not been put into sounds hands and provided solvency and liquidity, the credit markets would simply have frozen this morning. As in ground to a halt. Hit the wall. The end of the world, impossible to fathom how to get out of it type of event.
The stock market would have crashed by 20% or more, maybe a lot more. It would have made Black Monday in 1987 look like a picnic. We would have seen tens of trillions of dollars wiped out in equity holdings all over the world.
And because of the Fed actions, John is actually modestly optimistic!
- As I have been writing, the Fed gets it. Their action today is actually re-assuring. I have been writing for a long time that they would do whatever it takes to keep the system intact. As one of the notes below points out, this was the NY Fed stepping in, not the FOMC. The NY Fed is responsible for market integrity, not monetary policy, and they did their job. And you can count on other actions. They are going to change the rules on how assets can be kept on the books of banks. Mortgage bail-outs? Possibly. The list will grow.
Yes, tax-payers may eventually have to cover a few billion here or there on the Bear action. But the time to worry about moral hazard was two years ago when the various authorities allowed institutions to make subprime loans to people with no jobs and no income and no means to repay and then sold them to institutions all over the world as AAA assets. And we can worry in the near future when we will need to do a complete re-write of the rules to prevent this from happening again.
But for now, we need to bail the water out the boat and see if we can plug the leaks. Allowing the boat to sink is not an option. And get this. You are in the boat, whether you realize it or not. You and your friends and neighbors and families. Whether you are in Europe or in Asia, you would have been hurt by a failure to act by the Fed. Everything is connected in a globalized world. Without the actions taken by the Fed, the soft depression that many have thought would be the eventual outcome of the huge build-up of debt would in fact become a reality. And more quickly than you could imagine.
As I have repeatedly said, recessions are part of the business cycle. There is nothing we can do to prevent them. But depressions are caused by massive policy mistakes on the part of central banks and governments. And it would have been a massive failure indeed to let Bear collapse. I should note that this was not just a Fed action. Both President Bush and Secretary Paulson signed off on this.
The Fed risking a few billion here and there to keep the boat afloat is the best trade possible today. Their action saved trillions in losses for investors all over the world. It is a relatively small price. If you want to be outraged, think about the multiple billions in subsidies for ethanol and the hundreds of billions of so-called earmarks over the past few years to build bridges to nowhere. And think of the billions in lost tax revenue that would result from the ensuing crisis. I repeat, this was a good trade from almost any perspective, unless you are from the hair-shirt, cut-your-nose-off-to-spite-your-face camp of economics.
The Fed is to be applauded for taking the actions they did. And they may have to do it again, as there are rumors that another major investment bank is on the ropes. I hope that is not the case, and will not add to the rumors in print, but I am glad the Fed is there if we need them.
It is precisely because the Fed is willing to take such actions that I am modestly optimistic that we will "only" go through a rather longish recession and slow recovery and not the soft depression that would happen otherwise.
So could what happen to Bear happen to say Citigroup? Here's an interesting editorial featured on FinancialSense. Will Citibank Survive?
- So is Citi solvent? We just don’t know. But there are reasons to be concerned. We are in one of those recurring periods when the solvency of banks is doubted, like the late 1980s when the S&L crisis was brewing. Or perhaps it is more like 1974 when the failure of Herstatt Bank in West Germany set off banking crises throughout the world, culminating with the collapse of Franklin National Bank in New York City. The problem is leverage. Too much debt has been extended on too little capital, so even a small decline in the value of a bank’s assets can significantly erode its capital and make it insolvent.
In any case, it looks like the financial crisis already upon us will get worse before it gets better, and I am not alone in that thinking. David Rubenstein, co-founder of the Carlyle Group told The Wall Street Journal last week: “This is the tip of the iceberg. People are looking at our situation and saying, ‘There but for the grace of God go I.’ There are others out there hanging on by their fingernails.”
He should know. His group managed Carlyle Capital, which recently defaulted on its loans to Citi and other banks, and whose stock price is shown in the above chart.
And the markets incredibley ended the trading day mixed! Stocks Widely Mixed on Bear Stearns News
- The Dow Jones industrials recovered from an initial drop of nearly 200 points to finish up about 21 points. The broader Standard & Poor's 500 and Nasdaq composite indexes ended lower as investors bailed out of investment banks and small-cap stocks and fled instead to large companies apt to be reliable during a weak economy.
- Bear Stearns shares fell 86 percent to $4.10 -- still above the buyout price, implying that some shareholders believe the deal terms might change.
- Some investors worry Lehman Brothers Holdings Inc. might be next to fall. Lehman -- the investment bank considered most similar to Bear Stearns -- and other major investment banks are slated this week to report quarterly results.
- DBS Group Holdings Ltd., Southeast Asia's largest bank, reportedly instructed traders in an e-mail early Monday not to do business with the bank. According to Dow Jones Newswires, DBS Group later told traders to disregard the earlier e-mail. Lehman denied there were any problems with DBS.
Lehman fell $7.51, or 19 percent, to $31.75.
Bear Stearns closed at $4.10!
Now do you know that Jim Cramer actually talked about Bear Stearns last Tuesday, 11th March 2008?
"Bear Stearns is not in trouble!" "Don't move your money from Bear! That's just being silly." "Don't be silly" shouted Jim Cramer. Bear Stearns was trading around $60.00 then.
There are 3 clips you can watch.
The below video clip was posted on youtube from DonHarrold.net. (He feels strongly that Jim Cramer should be held responsible!)
Same video minus the commentaries.
And watch how Jim Cramer tries to back-pedals from his earlier comments on Bear!!!!!!!!!!!!
Seriously any fans of Jim Cramer out here?????!!!!
And what's even more incredible, Cramer is still out there!
I kid you NOT. This time, he's singing Bear Is Only the Beginning !
- The implosion of Bear Stearns over the past week wasn’t just a run on one bank, Cramer said during Monday’s Mad Money, it could be the beginning of a run on all the banks, including the brokerages.
Monday, March 26, 2007
Sick of Jim Cramer??
My Dearest Moo Moo Cow,
Aren't you sick and bored till death about Jim Cramer ranting in his pathetic revelations in his video interview?
Aren't you?
Hey, saw this posted on youtube. Yeah, probably should ask Cramer to learn from him!
http://www.youtube.com/watch?v=mfLZm9zSkaA
Hoooooyeah!!!
rgds
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