Hang on to your butts people...

[StageLeft]

I hope nobody was listening to Jim Cramer 6 days ago if they owned stock in bear sterns! oops

 

[shiner]

Did the world end? I'm just wondering so I know if I should keep holding on to my butt or not.

 

[Dissipate]

Originally posted by: Skoorb
I hope nobody was listening to Jim Cramer 6 days ago if they owned stock in bear sterns! oops

Cramer is a windbag pundit. Rumor has it that he made his stock market fortune as an insider. I guess he didn't have the inside on Bear Sterns, though.

 

[bbdub333]

Originally posted by: Dissipate

Originally posted by: Skoorb
I hope nobody was listening to Jim Cramer 6 days ago if they owned stock in bear sterns! oops

Cramer is a windbag pundit. Rumor has it that he made his stock market fortune as an insider. I guess he didn't have the inside on Bear Sterns, though.

Uhh.. no... rumor doesn't have that.

 

[Dissipate]

Originally posted by: bbdub333

Originally posted by: Dissipate

Originally posted by: Skoorb
I hope nobody was listening to Jim Cramer 6 days ago if they owned stock in bear sterns! oops

Cramer is a windbag pundit. Rumor has it that he made his stock market fortune as an insider. I guess he didn't have the inside on Bear Sterns, though.

Uhh.. no... rumor doesn't have that.

Well insider/manipulator, whatever you want to call it.

Jim Cramer?s Guide to Market Manipulation
March 20, 2007, 9:22 am

?Mad Money? host Jim Cramer has gained a huge following, and more than a few critics as well, with his explosive stock-picking patter. But in a revealing video interview with TheStreet.com, the financial Web site he cofounded, Mr. Cramer drops some bombshells that go well beyond his usual chair-throwing, ?Booyah?-shouting routine. In the clip, which has drawn lots of commentary on YouTube, Mr. Cramer brags about his ability as a former hedge-fund manager to game the stock market and offers what amounts to a how-to to aspiring stock manipulators, The New York Post reported Tuesday.

In the December interview with the site?s ?Wall Street Confidential? Webcast, Mr. Cramer describes at least two strategies, including a way of driving stock futures up or down that he explicitly said was legal. ?A lot of times when I was short, I would create a level of activity beforehand that would drive the futures. ? It?s a fun game,? he told TheStreet.com?s executive editor, Aaron Task.

But Mr. Cramer spends most of the interview describing a practice called ?fomenting,? where a hedge fund manager essentially creates a false impression about a company in order to drive its stock one way or another ? which he says is ?blatantly illegal,? but adds that ?the Securities and Exchange Commission doesn?t understand it.? While he claims this practice is widespread, he never says he has used it himself.

Here?s how fomenting works, according to Mr. Cramer: Say a hedge fund manager is holding a short position ? a bet that a stock will decline ? in Research in Motion, which has just announced blockbuster quarterly earnings results. An enterprising fund manager might call several brokerage houses and either feed them bad information or order a slew of short sales. Then he or she could call up a ?bozo reporter? with a fake news tip about Resarch in Motion rival Palm.

The result, he says, is a perfect storm of bad news that temporarily lowers R.I.M.?s stock price, long enough for the manager to reap a tidy profit. He recommends a similar procedure with Apple (the video was filmed before the company introduced its iPhone at its annual Macworld convention in January).

?These are all the things that you should be doing on a day-to-day basis and if you?re not doing it, maybe you shouldn?t be in the game,? Mr. Cramer tells Mr. Task.

Mr. Cramer sums up his philosophy this way:

What?s important when you are in that hedge fund mode is to not do anything remotely truthful, because the truth is so against your view, that it?s important to create a new truth, to develop a fiction.

Text

 

[palehorse]

so.. with the DJ finishing up today, I take it we're all safe from eternal damnation for at least one more day...? OK, good...

:roll:

 

[sportage]

Dont you get what happening?
Nothing happens by chance, especially with Bush and Cheney in there.

Their goal is to force our ecomony to go Euro.
Thats what they want. Forget the US dollar,
thats so retro. We will all be trading in Euro's
before 2010.

 

[GrGr]

Originally posted by: sportage
Dont you get what happening?
Nothing happens by chance, especially with Bush and Cheney in there.

Their goal is to force our ecomony to go Euro.
Thats what they want. Forget the US dollar,
thats so retro. We will all be trading in Euro's
before 2010.

Amero. 1 Amero for 2 $ or maybe 5 $

The Gulf nations will create their own currency by 2010, Asia is talking about doing the same. Why shouldn't the US/Canada/Mexico too? The $ is being devalued to hell anyway, might as well start all over.

 

[TastesLikeChicken]

Originally posted by: palehorse74
so.. with the DJ finishing up today, I take it we're all safe from eternal damnation for at least one more day...? OK, good...

:roll:

Wut? The ATP&N harbingers of doom were wrong?





Again?





Well knock me over with a feather.

 

[MadRat]

Why do people suggest that a negative feeling on the direction of the economy is the same as believing in the immediate end of the world? Grow up, people.

 

[flexy]

insane.

I have several websites selling programs and services in dollars...and literally every day i make less and less money because of this. I got a shock last week since it totally surprised me seeing dollar at 1.50, the last i remember cashing travellers for my GF was like in the 1.40s. Now we're close at 1.60, and i just see a chart http://www.ariva.de/euro-dollar-kurs looking like its shooting up to 2.00 very, very soon.

The good thing is when i buy banner space or similar i have to pay less... this seriously sucks if your main market is US/worldwide, paid in $. Might consider increasing pricing or just charge in EU.

 

[TastesLikeChicken]

Originally posted by: MadRat
Why do people suggest that a negative feeling on the direction of the economy is the same as believing in the immediate end of the world? Grow up, people.

Maybe because the people who trot out these threads do more than suggest they have a negative feeling on the direction of the economy? C'mon. "Hang on to your butts?"

Oh, and last I checked the DOW was up @ 255 today.

 

[blackangst1]

Well fuck. Another delay of America crashing and leaving 28million people homelss and with no retirement. DJIA up 300 as of now, NASDAQ up 55, and composite up 250.

Well shit. What say you naysayers? More "It's just a matter of time" bullshit?

 

[StageLeft]

Originally posted by: blackangst1
Well fuck. Another delay of America crashing and leaving 28million people homelss and with no retirement. DJIA up 300 as of now, NASDAQ up 55, and composite up 250.

Well shit. What say you naysayers? More "It's just a matter of time" bullshit?

The market drops week after week and you keep telling people to buy (because it's down and a great time to buy) and now you expect contrition for a single good day?

 

[Dissipate]

Originally posted by: blackangst1
Well fuck. Another delay of America crashing and leaving 28million people homelss and with no retirement. DJIA up 300 as of now, NASDAQ up 55, and composite up 250.

Well shit. What say you naysayers? More "It's just a matter of time" bullshit?

Do you know what volatility is? :roll:

 

[blackangst1]

Originally posted by: Dissipate

Originally posted by: blackangst1
Well fuck. Another delay of America crashing and leaving 28million people homelss and with no retirement. DJIA up 300 as of now, NASDAQ up 55, and composite up 250.

Well shit. What say you naysayers? More "It's just a matter of time" bullshit?

Do you know what volatility is? :roll:

If you actually paid attention to my posts you would know what my opinion is. But you dont.