Best of the Week
Most Popular
1. Investing in a Bubble Mania Stock Market Trending Towards Financial Crisis 2.0 CRASH! - 9th Sep 21
2.Tech Stocks Bubble Valuations 2000 vs 2021 - 25th Sep 21
3.Stock Market FOMO Going into Crash Season - 8th Oct 21
4.Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
7.AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
8.Why Silver Price Could Crash by 20%! - 5th Oct 21
9.Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
10.Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Last 7 days
Bitcoin Price TRIGGER for Accumulating Into Alt Coins for 2022 Price Explosion - 30th Nov 21
Omicron Covid Wave 4 Impact on Financial Markets - 30th Nov 21
Can You Hear It? That’s the Crowd Booing Gold’s Downturn - 30th Nov 21
Economic and Market Impacts of Omicron Strain Covid 4th Wave - 30th Nov 21
Stock Market Historical Trends Suggest A Strengthening Bullish Trend In December - 30th Nov 21
Crypto Market Analysis: What Trading Will Look Like in 2022 for Novice and Veteran Traders? - 30th Nov 21
Best Stocks for Investing to Profit form the Metaverse and Get Rich - 29th Nov 21
Should You Invest In Real Estate In 2021? - 29th Nov 21
Silver Long-term Trend Analysis - 28th Nov 21
Silver Mining Stocks Fundamentals - 28th Nov 21
Crude Oil Didn’t Like Thanksgiving Turkey This Year - 28th Nov 21
Sheffield First Snow Winter 2021 - Snowballs and Snowmen Fun - 28th Nov 21
Stock Market Investing LESSON - Buying Value - 27th Nov 21
Corsair MP600 NVME M.2 SSD 66% Performance Loss After 6 Months of Use - Benchmark Tests - 27th Nov 21
Stock Maket Trading Lesson - How to REALLY Trade Markets - 26th Nov 21
SILVER Price Trend Analysis - 26th Nov 21
Federal Reserve Asks Americans to Eat Soy “Meat” for Thanksgiving - 26th Nov 21
Is the S&P 500 Topping or Just Consolidating? - 26th Nov 21
Is a Bigger Drop in Gold Price Just Around the Corner? - 26th Nov 21
Financial Stocks ETF Sector XLF Pullback Sets Up A New $43.60 Upside Target - 26th Nov 21
A Couple of Things to Think About Before Buying Shares - 25th Nov 21
UK Best Fixed Rate Tariff Deal is to NOT FIX Gas and Electric Energy Tariffs During Winter 2021-22 - 25th Nov 21
Stock Market Begins it's Year End Seasonal Santa Rally - 24th Nov 21
How Silver Can Conquer $50+ in 2022 - 24th Nov 21
Stock Market Betting on Hawkish Fed - 24th Nov 21
Stock Market Elliott Wave Trend Forecast - 24th Nov 21
Your once-a-year All-Access Financial Markets Analysis Pass - 24th Nov 21
Did Zillow’s $300 million flop prove me wrong? - 24th Nov 21
Now Malaysian Drivers Renew Their Kurnia Car Insurance Online With Fincrew.my - 24th Nov 21
Gold / Silver Ratio - 23rd Nov 21
Stock Market Sentiment Speaks: Can We Get To 5500SPX In 2022? But 4440SPX Comes First - 23rd Nov 21
A Month-to-month breakdown of how Much Money Individuals are Spending on Stocks - 23rd Nov 21
S&P 500: Rallying Tech Stocks vs. Plummeting Oil Stocks - 23rd Nov 21
Like the Latest Bond Flick, the US Dollar Has No Time to Die - 23rd Nov 21
Why BITCOIN NEW ALL TIME HIGH Changes EVERYTHING! - 22nd Nov 21
Cannabis ETF MJ Basing & Volatility Patterns - 22nd Nov 21
The Most Important Lesson Learned from this COVID Pandemic - 22nd Nov 21
Dow Stock Market Trend Analysis - 22nd Nov 21

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

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