Open Season on Jim Cramer Bashing
Everyone is quick to jump on the bandwagon of trashing Jim Cramer of Mad Money. We have the Huffington post trashing him. We have Zero Sum… I mean Zero Hedge trashing him. And then we have the marriage of the two, Huffington post trashing him and quoting Zero Hedge trashing him. But, why would I write a post about it, unless somehow they are wrong. You knew it was coming right?
The latest trash of Jim Cramer was about a call that he actually did not make. According to Huffington Post, Jim Cramer said to buy Citigroup. Citigroup fell and so Huffington Post pointed the finger saying, “see he’s wrong na na ni na na.” But, if you go to the video that they tried to prove that he was wrong, he did not say buy Citigroup, as a day trade. He said to buy the offering and hold it for 2 to 3 years.
The fact is, if you beleive in Jim Cramer and bought Citigroup, when it fell, you’d buy more, not think of it as a loss. Because you’d be under the mind to buy it at the best price. If the realization of the profit is going to come in 2 or 3 years, a fluctuation in a day or two won’t matter.
Also I guarantee that if Jim Cramer says buy it on CNBC on national T.V. the powers that be would want to crush the common investor and dump the stock to take profits off of such a popular recommendation. I know that sounds a bit conspiracy theorist, but then we are talking about Zero Hedge, you’re used to it, if you read their posts.
As I’ve said from the beginning when I first laid eyes on Jim Cramer, anyone that would seriously take investment advice off of a T.V. show is indeed Mad themselves. Only a fool would watch a T.V. show, that is clearly geared for entertainment, and invest according to its edicts. I love Jim Cramer, but I would not take investment advice from him. Regardless of his history and past work. In fact CNBC and MSNBC has done more of a diservice to investing than a billion Bernie Madoffs.
[no offense intended by any of this, just stating facts]
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