MAD MONEY FRAUD
I was just watching Erin interview Jim Cramer about the markets and Jim was saying that folks who thought the markets were overvalued were just wrong. Then Erin brought up GM and how shrewd Jim was liking GM back when it was $18. Jim did not deny it or correct anything she said. I actually couldn't believe my ears knowing that I read something different from Jim on his realmoney.com site when he made his annual DJIA year end predictions. Here is what he said about GM:
"General Motors (GM:NYSE) : Oops! What happens when this one goes to zero? That's what it is worth, by the way. I believe that if I were running GM, I would just do a prepackaged bankruptcy and let 'er rip. That's right, I would demolish this common stock. Of course, the people who run this company are so clueless they still are paying out a gigantic dividend. I don't know if the keepers of the Dow will keep GM in as it goes down the drain. I also believe that the company will drag this out as long as possible, which is just plain stupid. I see no earnings and no dividend in 2006, which means the stock trades to $10 and really keeps the averages from ramping. I see no hope whatsoever here, even as I hope that I am wrong! "
The date that was written was January 6, 2006 and as someone smart said a long time ago, YOU CAN LOOK IT UP.
How can no one question him and his disingenuous.
posted by DAVID at
3:25 PM
4 Comments:
Of course, what did he write hours before or after, or on Jan 5th or 7th about GM? On the radio show? On the TV? On a guest spot? During a university speech?
I'd like to have 7000 opinions on a stock. One of 'em would probably be right...
Jim was bashing GM when I paid $20.19 cent ! I was concerned he was gonna kill my holding as soon as I got IT. Well I held for all the reasons I expected it to go up, and so far so goood. I now own only 50% of my orgianl postion, sold today in fact, and will trim the resr into strengh, not hanging around to 46, I had a very good gain in a short time and expect to keep it that way- ( iam a little woopsie pardon the spelling and typing)
I did a search on real money and Jimbo was negative on GM until May when the stock gapped up to $26! He wrote a column today that said he has been bullish since $18! I believe in putting my money where my mouth is and I couldn't take this crap anymore so I shorted him (TSCM) a month ago. I figure eventually people will figure him out and his days on tv will end. So far he is beating me as I shorted around $10.
About the last post - I would not necessarily short TSCM just because of Cramer; as a realmoney subscriber, it is pretty obvious on the site that most subscribers see him as a fool - however, many of the other commentators, including Rev Shark, Cody Willard, Barry Ritholtz, Helene Meisler, etc. are well worth the monthly fees.
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