In which Cramer stuffs and embalms self
This is part three of my study of Jon Stewart vs. Jim Cramer… check out PART ONE and PART TWO first if you haven’t already. Perhaps instead of taking the investing advice of someone like Cramer, you’ll end of using cash advance loans when you’re in a pickle…
The conversation between Stewart and Cramer continues:
Cramer (vlog): “I wouldn’t purge anyone who was in the hedge fund. I would encourage anyone in the hedge fund to do it (short-sell), because it’s legal, it’s a very quick way to make money and very satisfying. No one else in the world would admit that, but I don’t care. I’m just not going to say that on TV.”
Stewart (Daily Show): (gives Cramer the business)
Cramer (on Daily Show): (shrugs shoulders) “It’s on TV now!”
Stewart: “It feels like we’re capitalizing your adventure with our money (via how we’re told to invest)… it’s a game you know is going on, but you go on television as a financial analyst and pretend it isn’t happening.”
Cramer: “Absolutely we could do better. There are shenanigans and we should call them out…”
Stewart: “The gentleman in the (vlog) is a sober, rational individual. However, the gentleman on “Mad Money” is throwing plastic cows through his legs and shouting ‘SELL! SELL! SELL!”, then coming on two days later and saying ‘I was wrong.’ I can’t reconcile your brilliance in the market with the crazy BS I see you do every night.”
Cramer: I’m (an entertainer). I’m trying to draw in an audience that might not be interested in all the details.”
Stewart: But (the rational you) sounded like plain English to me. Treat us like adults. It’s unbelievable that (you and others) had Bear Stearns and all other kinds of CEOs… you had the chance to call them to the carpet… but (Santelli and) CNBC blame the mortgage holders!”
Cramer (vlog): “You can’t create for yourself an impression that a stock is down, but you do it anyway because the FCC doesn’t understand it.”
Stewart (Daily Show): “I understand you want to make finance entertaining, but it’s not a fu*&ing game. When I watch that, I can’t tell you how angry that makes me. What it says to me is you all know what’s going on. Draw a straight line from those shenanigans to the stuff that was being pulled at Bear Stearns, AIG and all this derivative market stuff that is all this weird Wall Street side bet…”
Somebody loses that bet, and that somebody is you and me. CLICK HERE and see how good television investing advice could be better…
Related Video:
Wall Street stuff is not easy to understand, largely because a lot of it is really shady when you get down to it, but since it has the convenience of professional language (which is necessary in fields like medicine, science, law, etc) it has an air of legitimacy. I don’t think anyone is going to be trusting those guys for years, and for good reason – they shouldn’t! And false journalists like Santelli and Cramer are just making it worse.