Originally I was not going to post the following observation. Trust me when I say, I ruminated on it for quite a bit, because disparaging people, just for the sake of it, is not my style.
But then there are times when I feel too strongly that something needs to be said, and if I don’t, it’ll irk me, for far too long. Regardless if I may be proven right or wrong. i.e., Sometimes some things just have to be said, regardless of outcome.
This is all my opinion, of course, and your dealings may vary. But all I’ll say to that is: If they do? Consider yourself lucky, very lucky, so far. Because I have witnessed (and remember vividly) the damage caused by the recommendations this one dispenses.
So now, with that all said, when it comes to the host known as Jim Cramer and his “clown show” of investment “insight,” with all its banging of buzzers and rapid fire diatribes of nonsense. I consider him more dangerous to one’s portfolio than taking investment advice at a real circus, from car-full of real clowns.
But today I wasn’t sure if I should laugh or get mad. Here’s why…
I was just reading a piece on the Drudge Report™ via CNBC™ and contained within it is a video where he (Cramer) is giving his insights into the latest sell-off, and by my observation, can only conclude he believes this is nothing but another “BTFD” (buy the f’n dip) opportunity.
The irony of all this, is for the backdrop of the article it’s contained in. i.e., It’s one warning of a “Lehman-like” possibility developing.
The video embedded appears to be from yesterday evening or early A.M. today, I can’t tell. But it really doesn’t matter.
All I can tell or perceive, is that he appears uber-confident that this is all just an opportunity to wait a day or so – see some panic resetting of buy/sells recommendations from the rating analysts, then, once they lower – back up the trucks and buy, buy, buy!
It’s been quite a while since I’ve seen him this cavalier in both his stance during any real selling or, his recommendations right after one.
The reason why it’s been quite a while? Let me post a quick review of Mr. Cramer’s recommendations from a few years back when Mr. Cramer was looking similar in my view, delivered via Jon Stewart on his Daily Show® To wit:
For those that don’t remember any financial “ancient” history. Bear Sterns collapsed less than a week after Mr. Cramer’s surety calls. The “Lehman-like” event happened just a few months later.
It appears, once again, the buzzer-banging guru believes such is no longer a concern, just a thing of the past. Because for those that do remember any call or observation he made for years hence, it was always prefaced with the disclaimer (paraphrasing) “Well, you know this will all probably end horribly.” regardless of the call or subject matter.
The reason? He wanted to try and inoculate himself from any possible “Jon Stewart” moments in the future. He said that qualifier so often – it became a parody unto itself.
Guess what? He’s no longer “qualifying” his remarks anymore.
And that alone should make one very, very, very (did I say very?) nervous about where these “markets” go from here.
As always, we shall see.
© 2019 Mark St.Cyr