This interview on the Comedy Network was some of the most honest TV I have seen in a good while. Jon Stewart is that valuable combination of wise and witty and he makes his points very well. Watch the full segment here (Hat tip and thanks to Bernard)
I have been waiting for 9 years for Jim Cramer to finally be dismissed as one of the modern poster boys for all that is wrong with the financial world. I wrote about him in Juggling Dynamite. Incredibly his show seems to still have a big following.
Cramer is the epitome of the frequent farce of the financial media which portends to be “expertise and advice” when in fact it is entertainment and a powerful platform for financial sales. It could all be considered harmless entertainment–except that it is not. Real people are hurt. This has been my point for a long time now.
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I agree, that was a great video, someone actually had the guts to say what a lot of people were thinking. He pulled it off in a funny and yet clear way. Imagine he made more sense than most of the so called professionals at CNBC.
Brian
Hi Danielle,
I hope your vacation went well. I am still interested in your take on my comment and wonder why you didn’t post it. I believe that my questions were valid and should at the very least be posted for others to review and discuss.
Not addressing my points does nothing for the credibility of your site, especially if you block comments that are in direct opposite to your own. How else can we grow and improve if you just decide to ignore the other side of the discussion and hide it from others. If you don't comment back or even post my comments then you are fueling a fire that in my opinion is unjustified and you should be ashamed of yourself for either jumping on or starting the bandwagon.
Please reply to my initial comments. I am not trying to challenge you but trying to learn. I would like to know why you feel so strongly. I would like to know your opinions so that I know more.
Thank you.
Ryan, it is nothing to do with your views on Jim Cramer, I would have gladly posted your comments but for two things, one your comment was way too long, and second you mingled into it some personal slams at me, which were off base and ridiculous. I am the host of this site and I write it to help. I frankly have no time for this type of nonsense. The blog is there as a professional forum where people can learn and discuss. If you wish to post stick to your views on the topic and I will gladly approve it. There are a couple of readers that apparently have nothing better to do than send me abusive comments, once this starts we have a policy of simply deleting every comment they post without even reading it.
The great thing about running a blog is that you control what gets posted. What I said to you is no different from what you said about Jim. I guess some people can take constructive critism and others can't.
I am convinced that you simply just will not answer my questions because you realize that if you do you will do what he so often does…eat crow. At least he's professional enough to know when he's wrong and be honest about it.
Very simply…answer the questions so I can learn, your readers can learn and you can learn.
1. Why is Jim Cramer the poster boy for all that is wrong with the financial world?
2. Why do you not consider Jim Cramer to be a expert when it is clear the man is clearly that.
3. (You say that people are getting hurt. People ARE getting hurt, but by their own doing. If people use Jim Cramer as a sounding board and do the research themselves they will experience less pain. Jim states on many occasions that it's buy and homework and that tips are for waiters.) My question to you is do you think Jim is to blame or the people who act without doing their homework and why do you feel that way?
That's all. I look forward to your responses.
Mr.Caligiuri is an associate of mine and I beleive that you have a duty to as the owner of this blog to answer the questions that he posted to you. He actually sent me his first post and I beleive you should post that as well. THere was nothing wrong with it. I believe it was honest, maybe too honest and some people may find that difficult to handle.
Ms. Park, it is your duty to uphold the integrity of the blog and your own. I believe his questions are all valid and must be addressed so that (as he says) he can learn and your readers can learn.
I look forward to your response to his questions.
DC
I have already wasted all the ink I have time for on Jim Cramer. I answered your quesions in my original post and in my book. They were not personal slams at Jim Cramer they were my professional opinion on his body of work. You don't like my comments, I get it. You have said that you disagree and have enjoyed his show and find his comments useful. That's great. No problem. It is not up to me to defend my comments or my integrity. There is no “constructive criticism” of me in your comments, when you say I am trying to promote myself at his expense. This is the kind of ridiculous waste of time posts that I was speaking of. Jim Cramer speaks for himself many times a week. As do I. The internet is there to keep a historical record of all that we say for future reference. I will give him credit for the courage to go on Jon Stewart's show and take the hard questions. He was given an opportunity to defend his record and behaviour live on TV and he could not. He could not because confronted with his own words, he has no defence. He offered the out: “I am a commentator”. In other words he is not an advisor, he is not a fiduciary, he is an entertainer. He admits that freely. If you find value in his show please do watch it. If you wish to defend him further then you are free to write your own blog and articles on the topic. Future posts on this topic on this blog will now be deleted unread. Over and out.
Regarding your over and out on the Cramer issue, and Ryan, and his colleague.
AMEN!
BillB