Sick of CNBC's Cramer Pump

newguy87 said: "Is anyone else sick of CNBC's pumping Cramer's rant from last year as if he was the some all knowing fortune teller. What a freaking joke. Cramer is a remarkably smart and shrewd guy no doubt but that is only to the benefit of himself and his wall street buddies, not the main street retail guy. He as much admitted to as how he manipulated stocks in his hedge fund days by putting out news or feeding info to CNBC reporters to give to the general public. I'm surprised that video never got much play and he's still on tv after that and for sure he's still doing it now as I've seen many of his picks are absolute crap, you'll do better off going the opposite way as he suggests a lot of times. Back to that rant, if I'm not mistaken it was because the Fed at the time was reluctant to cut rates so he was screaming but as soon as they went on their rate cut rampage he was satisfied and I'm pretty sure predicted things would be ok and Dow would see 14500 at the end of last year. Somehow that goes by the wayside and is forgotten. Also they make a big deal as to how he recently called a bottom this past week, lol. I can't remember if he's called a bottom many times before but I know for sure he called one back when Citigroup cut their divy saying that back in the early 90s banking crisis when the banks like Citi cut the divy it was the bottom. Well I think we've dropped quite a bit since the Citi divy cut and if you call a bottom enough I'm sure you'l be right eventually. There was a lot of controversy when he recommended Bear Stearns before they collapsed he says it was the preferred or the bonds he meant not the common, I don't know for sure. These are just a few instances off the top of my head. Like I said he's a very smart and shrewd guy, regardless of all his wrong calls for the public, because his wrong calls are most likely benefitting him or his wall street friends. The main reason I bring this up, other than the fact I'm sick of seeing it, is as a warning to the newbies and lay investors out there. Cramer is just one example there are plenty. I'd say probably 7-8 out of 10 of these "experts" you see on tv are just talking their book, don't trust them. Some guys you see are not so bad and can offer insightful analysis but you have to see their track records with previous calls they've made and how consistent they've been. I've seen posts on sites like "Cramer recommended it" or such and such recommended it and I hate to say it but that's laughable rationale for buying anything. Always do your own thinking and analysis and see if what others say makes sense or not. Perfect example, lots of analysts earlier this year were calling for a second half recovery things will be better etc.. and I always thought it was stupid to think that because there were still so many problems to deal with regarding the financials and we've see now the market has priced in that their won't be much of a recovery, we saw how bad june was. I suggest go with the assumption that analysts and "experts" are liars trying to part you the retail guy from your money and work back from that side to let them earn your trust. If you go from the other side you're more likely to get burned. Like Meredith Whitney at first people thought she was looney, but now after how much she's been right so much, she's built a lot of credibility and her analysis definitely deserves to be heard and thought through. Well that's enough my rant, lol. Good luck in everyone's investing. :-)"

laxstump11 said: "I admit that i am also pretty sick of hearing about cramer's rant last year. I also think that he is a smart guy, and pretty entertaining as well. But as you said, his words, as well as the words of any other "expert" should be taken with a grain of salt. ALWAYS do your own analysis. Those kinds of shows tell me what stocks to watch, but after the show, i do my own analysis. jsut my two cents."

Kloewer said: "Cramer is one reason I generally prefer Bloomberg over CNBC (and I'm giving Fox Business equal time until they start to annoy me). NewGuy, you're right. Cramer didn't call the bear market. He was hyping the Dow at 14500 as soon as the Fed started their rate adjustments. There are four letters that will keep me from ever taking Jim Cramer seriously: S H L D. But really, the thoughtful interviews and commentary by Tom Keene is worth checking out for those of you who can pick up Bloomberg Radio (I get it on XM 129). There's no screaming or crazy sound effects...just smart discussions on the stock market and the economy."

bjohn13 said: "The way I look at it....if these "stock analysts" are so smart, why do they need to work for a living?"

Aligator said: "[QUOTE=Kloewer;72007]Cramer is one reason I generally prefer Bloomberg over CNBC (and I'm giving Fox Business equal time until they start to annoy me).[/QUOTE] Kloewer, we gotta be cousins or something.:biggrin: PT Barnum would be proud of Cramer. The rolled up shirt sleeves; the hype.....and the success. But I'm not a believer in any of these guys......it is way to hard to appear on TV every day or week, and way to unlikely that they would aways have the answers. I long for the guys/gals who say, "Beats me.""

newguy87 said: "I can't watch Fox anything, if it's owned by Rupert Murdoch it automatically loses credibility for me. I don't think Fox Biz Channel will ever do well because I'd like to think when it comes to money people won't put up with the kind of spin he can get away with on his news channel. Also generally the audience demographic who watches these types of stations is more intelligent than the general public and won't stand for such blather. It's a shame for an institution like the WSJ to fall into his hands. Bloomberg is the best for straight up news, may be boring but it's to the point. CNBC tries to combine news and entertainment which is fine but sometimes they push it too far. As long as you see through it's generally not a big deal, but times like this Cramer can be extremely annoying."

MoeInvested said: "But... where else do you get to hear an analysist reaction to everyday callers questions about the market, like in the lightning round, and sudden death. I'm not sticking up for cramer by any means, but I think the best take away from his show, is the awareness of different stocks, and market direction. I agree with everyone that says, "do your own research". I am a big fan of Mad Money (CNBC) though! I think the show is valuable, again in the since of awareness. All of these shows, should not be the soul source for stock picks. I feel that they are a piece to the "homework" puzzle. Let them give the subject, and you do the homework. This forum, as well as others is another piece to the "homework" puzzle. Use CNBC, FOX Bus, Bloomberg, however it fits, to your advantage. :biggrin5:"