Is Cramer a hookah? You betcha. Somebody had to take Dan Dorfman’s place.
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Update
Rick was kind enough to send the link to Cramer’s response. In stock board parlance, judging from his reaction to the clip (begins at minute 3:35), Jon Stewart made Mr Cramer’s a$$hole twitch:
[youtube=http://www.youtube.com/watch?v=UcVp_3Ix76o&fmt=18&annotation_id=annotation_613547&feature=iv]
Here is another Stewart assault on the financial news networks:
[youtube=http://www.youtube.com/watch?v=O2Cu_UTYPuE]
I saw part of Cramer getting slammed with this yesterday on the Today Show. He looked as uncomfortable as anyone could look.
There are academic studies that indicate there is a slight edge to trading opposite Cramer’s recommendations.
Back in 2005 someone fed him bad info and he advised ppl to buy Dick’s Sporting Goods one day in advance of the earnings release. DKS enjoyed a big run up until they actually released their earnings, which missed estimates big time on the downside. The enduring quote from the associated Yahoo message boad that stuck with me was:
sop
But John Stewart’s just a comedian!
Well it seems the rating fireworks will be in hyperdrive as Jim Cramer is scheduled to appear on the Jon Stewart show Thurdsay—3-12-09. Will be interesting.
Here is an amazing clip where Jim Crammer a few of the scams which large hedge funds actually use to scam investors and even how they use CNBC to do it.
Posters at youtube are already requesting this clip be played during Crammers interview. You tube is where stewart got the info on Crammer to begin with by a youtuber from Louisiana no less—
http://www.youtube.com/watch?v=5M-OiXUhZNE&feature=related
Cramer already went on the Colbert show as a response:
Saw it here:
http://www.ritholtz.com/blog/2009/03/cramer-the-diplomat-on-colbert/
Actual clip:
http://www.colbertnation.com/the-colbert-report-videos/220779/march-05-2009/market-psychology—jim-cramer