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Jim Cramer meltdown on TV

One piece of investing advice I had to learn the hard way....don't follow Jim Cramer's advice.

lol - i thought he was going to blow a gasket
 
i dont. i watch him for the laugh. lol
but i agree with one thing from that video. Bear Stearns CFO: STFU
 
I love the disclaimer at the end. Either Cramer is supposed to appear like a loose cannon or he actually is one, I dunno, but he's got pinache.
 
I was happy to see another drop -- it's a nice buying opportunity.

Everyone with a 401k ought to be smiling instead of panicking, since a drop now means this month's buys are discounted.
 
If I had invented a Jim Cramer translator before today and had it on at my desk while listening to CNBC on the tv I would have heard this...


"FED RESERVE, DROP RATES SO PEOPLE CAN LEND MORE MONEY TO PROP UP PEOPLE WHO CAN'T PAY THEM BACK SO MY BUDDIES AND I CAN UNLOAD THE REST OF OUR STOCKS BEFORE THE NEWLY LENT MONEY CAN ALSO GO INTO DEFAULT!!!!!!!!!!!!!!!!!111111!!!!!!!111"
 
Wow, this guy is flipping out and yelling. He sounds really pissed about the housing market, and I definitely agree with him.

Why is the fed increasing rates so that people are losing their homes? Its ridiculous. The fed helps all the lenders rip people off, and then they raise interest rates and get rid of a bunch of loan programs. Its impossible to buy a house without near perfect credit and quite a bit of money to put down.

How the fvck is this supposed to help us?
 
I don't get what everyone is whining about. The stock market spiked up 15% in 3 months, and now everyone is bitching about a measly 8% correction that was more or less inevitable? Come on!

Unless you're a dummy and made some poor decisions, you're probably still up for the year.
 
I was about to buy puts in Bear Stearns the day after New Century went down the crapper. BSC was trying to prop them up, their stock was around 140 at the time, now its around 105. I put that money into puts against Countrywide and Centex homes, cant say Im disappointed.
 
Originally posted by: Delta6Echo
Wow, this guy is flipping out and yelling. He sounds really pissed about the housing market, and I definitely agree with him.

Why is the fed increasing rates so that people are losing their homes? Its ridiculous. The fed helps all the lenders rip people off, and then they raise interest rates and get rid of a bunch of loan programs. Its impossible to buy a house without near perfect credit and quite a bit of money to put down.

How the fvck is this supposed to help us?
Click to expand...

Why are people so stupid that they buy a 3/4 million home with a 6 month "teaser rate" and interest only with 0 money down? Then when their rate goes up and they are ass backwards in their home they cry to mommy and daddy (government) to bail them out.
 
Originally posted by: ultimatebob
I don't get what everyone is whining about. The stock market spiked up 15% in 3 months, and now everyone is bitching about a measly 8% correction that was more or less inevitable? Come on!

Unless you're a dummy and made some poor decisions, you're probably still up for the year.
Click to expand...

I don't think you realize how bad the mortgage/home equity market really is. There are millions of people in serious financial trouble because of bad debt. When they crash, the loaning institutions crash, investors will follow them and ultimately, the whole market gets hurt. The angst that Cramer is expressing is truly representative of the wider market and at the highest levels.
 
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