I was invited to comment on an article in the New York Times about Jim Cramer and his apparent inability to fully grasp why so many of us don't like him. The piece serves to give grand exposure to one of the main reasons that I myself don't like him. Come with me now on a short tour of words.
The first word I'd like to address is "torpedo". That is the word which Cramer used to define wealth building as a hedge fund manager. It works like this: Find a stock which is heavily overweight with little support, and sell it short. Organize you buddies to your way of thinking, then short more shares to send the longs scampering. Then move in your bears and suck up your bets.
Next, let's move to Jim's claim that his television show has, "allowed me to express my innate insanity, in all its glory, to everyone who might be interested." That's a fine statement for any individual who is willing to stand by it but Cramer also stated, "there seems to be a market for this kind of idiocy." So he flaunts his ability to act like a goon but then comes back to indicate that it really does go against his grain.
Then the man issues a statement as poignant as, "I remain completely and utterly repulsive to myself... I'm an arrogant jerk." Be that as it may, someone really should send that man for some counseling. If I'm not mistaken, that statement (or something similar) is warned about within the first three chapters of the psychology text book How To Recognize Suicide Bait . Add an additional quip such as "I wake up in a pool of self-loathing", and we have reason to remove the garage door and to take all sharp objects from the house. If I recall my law enforcement schooling, isn't "self loathing" that stuff they make serial killers out of?
Now if Cramer was to read this, and I'm near certain he won't, he'd probably come up with some meandering explanation that I've taken his statements out of context and that his words weren't meant as literal. Therein lies the single biggest reason why I cannot stand Jim Cramer. He has proven to me in plain fact and by his own text that you simply cannot trust one word that comes out of his mouth. Yeah, he's rich all right, but at what cost?











Reader Comments (Page 1 of 1)
5-31-2007 @ 1:09PM
Beltway Greg said...
Dear Gary,
To quote the movie "Spinal Tap" "There's a fine line between clever and stupid," and you my friend have obliterated said line. Do you understand entertainment and investing? Cramer gives investing tips, for the most part very good, and acts like a practiced idiot in the process. That, my friend, is why people watch. He didn't become wealthy by following one method or he would have been liquidated on many occasions. Do you remember Howard Cosell? In a manner Cramer is much like Howard providing entertainment and erudition to a field that lacks both. Perhaps you should go back to law enforcement because your career as a psychologist and writer has come to a close. And as we say in the hood, "Hate the game but not the playa."
Beltway Greg
6-01-2007 @ 12:01PM
chas said...
Cramer does not work in the grey area. He says "buy" or "sell". He does not go into all the reasons of one or the other. He tells it like he sees it in a manner of entertaiment. He has the credentials and the opinion. He knows he will not be 100% right but he lets you know where he stands. Remember the entertainment value of Rukuyser-good facts but no gusto. Cramer has the facts, the gusto, and opinions why. Some may not like him as his manner creates envy. Watch him anyway
6-01-2007 @ 12:01PM
Slam Dunk said...
Dear Gary,
You're right, Cramer probably won't read this any more than you watch his show.
No one can stand you either, Gary, so what's your point?
Steve
5-31-2007 @ 1:24PM
john said...
J.C. is irrational and underperforms the market as almost all professional investors do. He just manages to have a lot of gullible followers because of his outlandish style. I miss Louis Rukeyser, now there was entertainment with intelligence!
5-31-2007 @ 1:24PM
Jeff said...
I think what really irks your ire is that Jim Cramer has found a niche way to be a successful financial planner, in a system that is otherwise set up for failure.
6-09-2007 @ 2:51PM
Cary said...
Well said, Steve!!