The New York Post's John Crudele clobbers CNBC's Jim Cramer, for being not just wrong, but extravagantly wrong:
The loudmouth host of CNBC's "Mad Money" frantically told investors before Wall Street opened yesterday to take their money out of the stock market.
But he forgot to apologize for telling them the exact opposite for the past year - a time when the value of their stockholdings declined by an astounding one-third.
Now I realize that the Post is owned by the News Corp., which also owns Fox Business News, but still, if Crudele is right, and Cramer is so wrong, then, well, the facts simply speak for themselves.
And Crudele cruelly adds these comments, culled from blogs:
"Lest we forget," wrote one blogger, "Cramer announced the end of the housing crisis some time ago (I've got street creds, he said). He also predicted 14,500 for the Dow in '07. The man is a shameless advertisement for his own products, books, TV show, etc."
Wrote another: "I have studied Jim Cramer's main recommendations for one year. Conclusion: He is absolutely the best contrarian indicator I have come across in over 25 years of investing."
TCG wonders further: If Cramer is that wrong, all the time, could it be that it's not an accident, or an error, but rather, a function of knowing what he wants to do? Suppose he were selling what he wants others--the suckers--to buy. Wouldn't that explain, perfectly what the phenomenon of Cramer being "wrong" all the time? From his personal point of view, maybe he's not wrong, he's right. Just wondering.
