Jim Cramer is a former hedge fund manager, host of CNBC’s Mad Money, and a moron. Here is a partial list of dumb things he has said or done:
- Most recently, he endorsed the Keystone XL pipeline as a huge jobs creator. The best studies indicate the pipeline project would bring only a few thousand permanent jobs
- Created a CNBC show in which breathless, sweaty ranting and kooky sound effects conceal really awful advice about which stocks to buy and sell
- In 2006, a Kellogg School of Management study found that the only people making money off the stocks Cramer picked were the brokers who sold those stocks to the suckers who listened to Cramer’s buy recommendations
- A 2007 study by Barron’s found that the only way to make money on Cramer’s stock picks was to short them
- Cramer bragged about manipulating stock prices as a hedge fund manager in a 2007 interview
- That same year, Cramer famously ranted that Ben Bernanke needed to open the Fed’s discount window and save Bear Sterns from its own bad bets
- In 2008, Cramer told his viewers that Bear Sterns was not in trouble just six days before it collapsed
- Also in 2008, Cramer told viewers to buy Wachovia two weeks before its share price collapsed
- In October 2008, Cramer told NBC’s Today show that everyone should take their money out of the stock market. The stock markets rebounded immediately afterwards
- After many years of helping destroy American wealth, in 2009 Cramer denounced President Obama for “the greatest wealth destruction I have seen by a president“
- In 2012, Cramer predicted that President Obama would be reelected with 440 Electoral College votes, which was 108 more than the president actually got
- Two words: DAILY SHOW
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