Back in July of 2007, Jim Cramer -- who is a very smart guy -- conducted an interview on TheStreet.com (NASDAQ: TSCM) website, where he told Farnoosh Torabi that the subprime crisis had "absolutely no relevance" and added that the media was making a big deal out of it to try to look like they knew as much as the hedge fund managers.
Ooops. Let me be clear: I'm a big fan of Mr. Cramer, and I watch his show regularly. But the bottom line is that, when it comes to predicting the future of the market and analyzing issues as complex as this -- no one knows anything.
Jim Cramer in 2007: Subprime has 'no relevance'
Posted Oct 10th 2008 9:52AM by Zac Bissonnette
Filed under: Television
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Reader Comments (Page 1 of 1)
10-10-2008 @ 11:42AM
John said...
Funny, I often think of Cramer as having been concerned about the subprime crises longer than most (except for Kass). The problem with pulling out videos like this is that Jim always changes his mind, as new data becomes available. This is, I believe, a strength. But makes videos like this useless since we don't know how quickly after this he changed his mind. Remember the one where he had a meltdown about just this problem also last summer? It was widely circulated and laughed at on YouTube.