Best of the Week
Most Popular
1. Stock Markets and the History Chart of the End of the World (With Presidential Cycles) - 28th Aug 20
2.Google, Apple, Amazon, Facebook... AI Tech Stocks Buying Levels and Valuations Q3 2020 - 31st Aug 20
3.The Inflation Mega-trend is Going Hyper! - 11th Sep 20
4.Is this the End of Capitalism? - 13th Sep 20
5.What's Driving Gold, Silver and What's Next? - 3rd Sep 20
6.QE4EVER! - 9th Sep 20
7.Gold Price Trend Forecast Analysis - Part1 - 7th Sep 20
8.The Fed May “Cause” The Next Stock Market Crash - 3rd Sep 20
9.Bitcoin Price Crash - You Will be Suprised What Happens Next - 7th Sep 20
10.NVIDIA Stock Price Soars on RTX 3000 Cornering the GPU Market for next 2 years! - 3rd Sep 20
Last 7 days
Covid and Democrat Blue Wave Beats Gold - 15th Jan 21
On Regime Change, Reputations, the Markets, and Gold and Silver - 15th Jan 21
US Coronavirus Pandemic Final Catastrophe 2021 - 15th Jan 21
The World’s Next Great Onshore Oil Discovery Could Be Here - 15th Jan 21
UK Coronavirus Final Pandemic Catastrophe 2021 - 14th Jan 21
Here's Why Blind Contrarianism Investing Failed in 2020 - 14th Jan 21
US Yield Curve Relentlessly Steepens, Whilst Gold Price Builds a Handle - 14th Jan 21
NEW UK MOT Extensions or has my Car Plate Been Cloned? - 14th Jan 21
How to Save Money While Decorating Your First House - 14th Jan 21
Car Number Plate Cloned Detective Work - PY16 JXV - 14th Jan 21
Big Oil Missed This, Now It Could Be Worth Billions - 14th Jan 21
Are you a Forex trader who needs a bank account? We have the solution! - 14th Jan 21
Finetero Review – Accurate and Efficient Stock Trading Services? - 14th Jan 21
Gold Price Big Picture Trend Forecast 2021 - 13th Jan 21
Are Covid Lockdowns Bullish or Bearish for Stocks? FTSE 100 in Focus - 13th Jan 21
CONgress "Insurrection" Is Just the Latest False Flag Event from the Globalists - 13th Jan 21
Reflation Trade Heating Up - 13th Jan 21
The Most Important Oil Find Of The Next Decade Could Be Here - 13th Jan 21
Work From Home £10,000 Office Tour – Workspace + Desk Setup 2021 Top Tips - 12th Jan 21
Collect a Bitcoin Dividend Without Owning the King of Cryptos - 12th Jan 21
The BAN Hotlist trade setups show incredible success at the start of 2021, learn how you can too! - 12th Jan 21
Stocks, Bitcoin, Gold – How Much Are They Worth? - 12th Jan 21
SPX Short-term Top Imminent - 12th Jan 21
Is This The Most Exciting Oil Play Of 2021? - 12th Jan 21
Why 2021 Will Be the Year Self-Driving Cars Go Mainstream - 11th Jan 21
Gold Began 2021 With a Bang, Only to Plunge - 11th Jan 21
How to Test Your GPU Temperatures - Running Too Hot - GTX 1650 - Overclockers UK - 11th Jan 21
Life Lesson - The Early Bird Catches the Worm - 11th Jan 21
Precious Metals rally early in 2021 - 11th Jan 21
The Most Exciting Oil Stock For 2021 - 11th Jan 21
Financial Market Forecasts 2021: Navigation in Uncharted Waters - 10th Jan 21
An Urgent Message to All Conservatives, Right-Wingers and Patriots - 10th Jan 21
Despite Signs to the Contrary, Gold Price at or Near Top - 10th Jan 21 -
Ultimate Guide On The 6 Basic Types Of Index Funds - 10th Jan 21
Getting Vaccinated at TESCO - Covid-19 Vaccinations at UK Supermarket Pharmacies and Chemists - 10th Jan 21
Cheers for the 2021 Stock Market and These "Great Expectations" - 9th Jan 21
How to Plan Your Child With Better Education - 9th Jan 21
How To Find The Best Casino - 9th Jan 21
Gold Is Still a Bargain Buy - 8th Jan 20
Gold Price Set to Soar as Hyperinflation Looms - 8th Jan 21
Have Big Dreams? Here's How to Pay for Them - 8th Jan 21
Will the Fed Support Gold Prices in 2021? - 8th Jan 21
Stocks trading strategies for beginners - 8th Jan 21
Who is Buying and Selling Stocks in 2021 - 8th Jan 21
Clap for NHS Heroes 2021 as Incompetent Government Loses Control of Virus Again! - 8th Jan 21
Ultimate Gaming and Home Working PC System Build 2021 - 5950X, RTX 3080, Asus MB - Scan Computers UK - 7th Jan 21
Inflation the bug-bear looking forward through 2021 - 7th Jan 21
ESG ETF Investing Flows Drive Clean Energy to Fresh Highs - 7th Jan 21
5 Financial Market Surprises in 2021 - 7th Jan 21
Time to ‘Reset’ Your Investment Portfolio in 2021? - 7th Jan 21
Bitcoin Price Collapses almost 20% at the start 2021 - 7th Jan 21
Fed Taper Nervous Breakdown - 6th Jan 21
What Will the U.S. Dollar Ring in for 2021? - 6th Jan 21
Stock market frenzy- Ride the bandwagon but be sure to take along some gold coins - 6th Jan 21
Overclockers UK Custom Build Gaming System Review Heat Test and Final Conclusion - 6th Jan 21
Precious Metals Resuming Bull Market, Gold, Silver, GDX Trend Forecasts 2021 - 5th Jan 21
Trump’s Iran-COVID-Gate Anniversary  - 5th Jan 21
2021 May Be A Good Year For The Cannabis / Marijuana Sector - 5th Jan 21
Stock Market Approaching an Important Target - 5th Jan 21
Consumer Prices Are Not Reflecting Higher Inflation; Neither Is The CRB - 5th Jan 21
NEW UK Coronavirus PANIC FULL Lockdown Imminent, All Schools to Close! GCSE Exams Cancelled! - 4th Jan 21
The Year the World Fell Down the Rabbit Hole - 4th Jan 21
A Year Like No Other for Precious Metals… and Everything Else - 4th Jan 21
The Stocks Bull Market is Only Half Completed - 4th Jan 21
An In- Depth Look At Gold Price Trend - 4th Jan 21
Building America Back After a Dark Covid Winter - 4th Jan 21
America's Dark Covid Winter Ahead - 4th Jan 21
Buy a Landrover Discovery Sport in 2021? 3 Year Driving Review - 3rd Jan 21
Stock Market Major Peak in Early April 2021 - 3rd Jan 21
Travel and Holidays 2021 - Flight Knight Cabin Bag Review - 3rd Jan 21
�� Happy New Year 2021 Fireworks and Drone Light Show from London and Sheffied - BBC�� - 2nd Jan 2
The Next IMMINENT Global Catastrophe After Coronavirus - 1st Jan 21

Market Oracle FREE Newsletter

FIRST ACCESS to Nadeem Walayat’s Analysis and Trend Forecasts

CNBC Jim Cramer Calls Stocks Bear Market Bottom in Hindsight

Stock-Markets / Mainstream Media Jun 03, 2009 - 12:50 AM GMT

By: Nadeem_Walayat

Stock-Markets

Best Financial Markets Analysis ArticleJim Cramer of CNBC's "Mad Money" is apparently at it again, rewriting history as the video prepared by Don Harrold illustrates that Jim Cramer is now starting to perpetuate a myth that he called the Stock Market bottom at Dow 6,500 after the earlier myth of telling investors to sell at Dow 11,000.


Jim Cramer - 1st June 2009 - "Time to buy at Dow 6,500".

Watch what Jim Cramer actually said at Dow 6,500 on 6th and 9th of March 2009, and you will find bearish commentary and even a forecast that the Dow could go below 5320.

History of Jim Cramer Wrong Market Calls

He Has No Idea, NO IDEA, of how Bad his Market Calls are" - Continuing on from ( Why Watching CNBC Could Destroy Your Portfolio) in the deconstruction of CNBC talking bobble heads repeatedly bullish market calls whilst the stocks bear market continued to rage, that continued to destroy the value of CNBC viewers portfolios. This article focus's CNBC's chief stock picking guru, Jim Cramer's market calls against actual outcomes which will hopefully prevent the further destruction of portfolio values.

11th March 2008 - Bear Stearns is fine, do not take your money out, BEAR STERNS is fine, Do not move your money out of Bear Stearns, Don't be Silly (ALL with the backdrop of the Bear Stearns Stock price)

6 Days Later - Bear Stearns Loses 90% of its value, and Jim Cramer attempts to revise history about what he implied on the 11th, but the video does NOT lie. HIS STOCK PICKING CNBC SHOW, WHILST REFERRING TO THE BEAR STEARN'S STOCK PRICE TOLD INVESTORS TO STAY PUT!

13th June 2008 - Jim Cramer's bull market buy calls - Says buy Banks, Buy Brokers, Wells Fargo, JP Morgan and tech stocks, and home builders, retailers.

Says NOT to buy oil and gas.

20th June 2008 - Jim revises history, he says - If you own banks and retailers then you are like the golam, not listening to him. He says if you own banks, home builders and retailers then you will be in pain, despite the fact that he specifically recommended buying bank stocks and retailers a week earlier.

Now he says the most important sector he recommends that you should have bought is oil and natural gas, whilst forgetting that the previous week he said NOT to buy them !

Jim Cramer Keeps Calling the Bear Market Bottom Again and Again and Again.

Jim's Bad Call - Housing Stocks Bottom called 2006

Jim's Bad Call - Fantastic U.S. Economy During 2008 - Feb 2007

Jim's Bad Call - Buy the Dow at 14,000 Bull Market Calls - November 2007

Jim's Bad Call - Buy Retail Stocks - November 2007

Jim's Bad Call - Buy the Bank Stocks - Feb 2008

Jim's Bad Call - Dow 13,800 - Buy the stock market again

Jim's Bad Call - Dow 12,300 - Dow Falls but Cramer says Buy, Buy, Buy ! Expects a HUGE rally

Jon Stewart Wipes the Smile off Cramer's Face

Jon Stewart recently joined in, in attempting to hold Jim Cramer and CNBC to account for what passes for financial journalism that has led the millions of investors who watch CNBC into near total portfolio wipeout.

In closing, I refer back to one of Jim Cramer's infamous rants - "He has No idea, NO IDEA how bad his market calls are, NO IDEA, CNBC Viewers should cut the volume, CUT the Volume, CUT THE VOLUME, before their Portfolio hits ZERO".

By Nadeem Walayat
http://www.marketoracle.co.uk

Copyright © 2005-09 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.

Nadeem Walayat has over 20 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis specialises on the housing market and interest rates. Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication. We present in-depth analysis from over 250 experienced analysts on a range of views of the probable direction of the financial markets. Thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

Nadeem Walayat Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Comments

Deet
03 Jun 09, 00:55
Cramer

Cramer doesn't say he called the bottom ON HIS SHOW, he says he told a woman in a bagel shop, some guy at a gas station, and some guy parking his car that it was the bottom! Now to refute him, you need to find these people!


Josh
03 Jun 09, 03:50
Jim Cramer

Jim Cramer is an idiot, anyone who listens to his advice deserves to lose everything!


Peter Finch
03 Jun 09, 20:04
Jim Cramer

Please leave Jim Cramer alone. By highlighting his egregious nature and calls you are in danger of destroying one of THE BEST contrary indicators we have.

Just do the exact opposite of what Jim or the MSM says and you will make money.

So please, go pick on someone else and leave Jim alone. His calls are the best warning signs a trader can get. As to the public, they are sheep and won't listen to you anyway.


anti-demagogue
14 Jun 09, 12:39
Don Harrold

Don Harrold is no different than Jim Cramer, he's just on opposite sides of the radical spectrum. Both of them missed greatly the turn up on March 9 and the subsequent "bear market rally" that followed up until this very day. The only difference between Jim Cramer and Don is that Jim Cramer will at least listen to his critics, Don will just chastise and ban them like all good dictators do. People in Communist China can speak more freely than Dons customers. Don makes his money through XXXXXXXXXXXXXXXXXXXXXXXXX (www.doublingstocks.com, just google it and see what comes up) and pyramid style XXXXXXX XXXXX. Don is not your friend. If you're thinking of joining him, you're better off going to the tunnel at 42nd street and 8th avenue and manhattan and paying people to scream in your face, you'll lose less money and at least you'll know what you're in for.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules