Jon Stewart vs. Jim Cramer

[cpprhead59]

Let me first preface this post by saying I am a financial advisor and I do like Jim Cramer for his brains and experience. I do not, though, care for the TV personally he has become. He is very entertaining and if you parse what he says during the show, it is informative but what it is not is applicable to the everyday investor in 99.99% of the time. My post is in no way shilling my services or any other advisor but rather to show that the financial media is not innocent or unbiased in the news they report.

Below is a link to last night's Daily Show with Jon Stewart that, frankly, I was shocked at three things:
1.) Stewart went right after him and I mean for the throat.
2.) Cramer looked scared to death.
3.) Cramer not having anything to say when called out on some of his prior antics.

Daily Show Link

Bottom line is that the financial media is terrible and adding fuel to the fire during this crisis, particularly CNBC. I have it on in the office to keep up with any breaking news but I have found myself turning it off the last few weeks as the continue to scare America and the world. I cannot count the number of clients I have had who have called and said "I just saw on CNBC" or "Cramer said"...etc, and are nearly driven to tears at the fear that is instilled in them by these shows.

If you want to watch Financial TV, watch Bloomberg if you can, it is straight forward and news only.

I am disappointed in Cramer in that he has been saying a lot of the right things about the changes and added regulation that needs to be implemented but the clips from 2-3 years ago are really damming to his cause.

If you have problems or questions, ask friends/family/other professionals on who they would recommend as a financial advisor in your area, meet with a few of them, check their credentials, history and go with who you feel most comfortable with.


EDIT - These are my thoughts personally and NOT those of the company I work for.

 

[Anthem]

That was a great clip.

I reccomend everyone to watch it. It is about 23 minutes in lengh, but very spot on.

Thanks for sharing it.

 

[Dude Love]

He also rips the guys from Crossfire: http://www.youtube.com/watch?v=aFQFB5YpDZE

 

[junkman_56]

Good stuff.
Cramer is a clown IMHO

 

[LarianLeQuella]

For all his comedic background, don't ever underestimate Jon Stewart. They guy is disarmingly smart, and he has a way of just cutting through the BS.

As for Cramer, I think his best work was done on "Arrested Development". Otherwise, theatrics in a business like financial advising is uncalled for.

 

[Fatken]

I watched this clip this morning and Stewart did bust him up, especially when he showed the clips of how hedgefund managers (and Cramer was one) manipulate the markets by the use of rumor and false information.

What I had seen earlier in the week was where Cramer was encouraging people to buy Bear-Sterns, then in another clip Cramer stating there was nothing wrong with Bear-Sterns.

Cramer does have a great understanding of the markets, but he can be distracting.

Ken

 

[ggiese]

Good stuff.
Cramer is a clown IMHO

That has been my observation as well...

Aside from not wearing white face and some goofy looking shoes, he does everything else a clown does during his act.

And CNBC is the National Inquirer of the financial world, IMHO. There's some stuff that's obviously true, but there's also an awful lot of connecting dots that just don't seem to be there...

 

[Robbmt]

Paul Tangas (SP?) -- Nightly business Report on PBS All news; no theatrics.

Cramer is entertainment.

 

[Gunpowder]

I remember when his show was on Fox News during the Bubble. He had everyone buying on his advice even the fox friends. The bubble burst and his show disappeared off that network so fast that I figured he pissed the wrong person off. He never saw the tech bubble crash coming.