5 ms·

I am not from US, what is the story? Does that guy consistently make bad predictions?

by DeathArrow 4y ago

boosting6889 4y ago
60% of the time his predictions work out every time
- flashfaffe2 4y ago
  I only know Cramer from the fun and others meme is been the originator. But that statistics should be taken with caution. Being long equity since 2008 was not really a proof of creating a alpha ( aka adding superior return than the market). That's the long term low interest rates environment that incentivize W Buffet to make his famous 10 years long sp500 won't be beaten by any HF.
  - GiorgioG 4y ago
    They was referencing this scene from Anchorman: https://youtu.be/IKiSPUc2Jck?t=37 https://youtu.be/IKiSPUc2Jck?t=37
smcl 4y ago
I don’t know if he consistently made bad predictions, but he had a few howlers during the 2008 global financial crisis. He very loudly declared on his TV show that Bear Sterns was safe on the eve of its collapse: https://youtu.be/V9EbPxTm5_s https://youtu.be/V9EbPxTm5_s
- jb1991 4y ago
  Don’t forget about all the accolades he left on Facebook stock before it had its massive crash.
  - smcl 4y ago
    Oh yeah there's definitely plenty more than I mentioned. But I just wanted to highlight that his reputation as this sort of accidental Grim Reaper of companies originated in the GFC back in 07/08
- ashwagary 4y ago
  A couple days ago he told his audience to sell Bitcoin for USDC, a day later USDC had a -15% depeg event. Yes, he is a comically bad signal.
  - smcl 4y ago
    Heh, ok so he's still got the midas touch then :) I hadn't really seen anything of him recently but I figured in a "stopped clock is right twice a day" way he can't possibly always be wrong, but maybe I gave him too much credit
a_techwriter_00 4y ago
It's something of a meme to say talk about shorting what he recommends his viewers buy. Sometimes people will come up with data showing that if you did that over such-and-such a period you'd be up like 50%, but I don't think that's necessarily worse than anyone would do if they had to pick stocks on national TV every day.
zamnos 4y ago
The background on Jim Cramer is less about his accuracy and more about his tv show. He has this show where he just goes off on what to buy and what to sell, on a major news network, from before YouTube, and it's enthralling. If we were to do a montage scene of America and capitalism, he'd be in it, yelling BUY! SELL! BUY! it's just so over the top! if you haven't seen it before here's a recent one https://youtu.be/RKG0Qh51Vq0 https://youtu.be/RKG0Qh51Vq0
- whitemary 4y ago
  That was significantly more idiotic than I expected. God bless America.
sidlls 4y ago
It's not about his predictions, but his admitted market manipulation. I don't know how "in the know" he is now, but all you need to know about his motivations is encapsulated in the first minute of this interview: https://www.youtube.com/watch?v=8DJlogbrDcA https://www.youtube.com/watch?v=8DJlogbrDcA. He's a market manipulator, or was when he was in that hedge fund, and there's every reason to believe that he still would do this now for his own personal benefit if he could. Basically, if he's promoting a position it's probably a really good idea to strongly consider taking the opposite one, or just ignoring it (which is likely the better idea).
swarnie 4y ago
https://nypost.com/2023/03/03/inverse-cramer-etf-lets-investors-bet-against-cnbc-anchors-stock-picks/ https://nypost.com/2023/03/03/inverse-cramer-etf-lets-invest... The fact multiple ETFs like this exist should tell you all you need to know.

I am not from US, what is the story? Does that guy consistently make bad predictions?

boosting6889 4y ago

60% of the time his predictions work out every time

flashfaffe2 4y ago
I only know Cramer from the fun and others meme is been the originator. But that statistics should be taken with caution. Being long equity since 2008 was not really a proof of creating a alpha ( aka adding superior return than the market). That's the long term low interest rates environment that incentivize W Buffet to make his famous 10 years long sp500 won't be beaten by any HF.
- GiorgioG 4y ago
  They was referencing this scene from Anchorman: https://youtu.be/IKiSPUc2Jck?t=37 https://youtu.be/IKiSPUc2Jck?t=37

smcl 4y ago

I don’t know if he consistently made bad predictions, but he had a few howlers during the 2008 global financial crisis. He very loudly declared on his TV show that Bear Sterns was safe on the eve of its collapse: https://youtu.be/V9EbPxTm5_s https://youtu.be/V9EbPxTm5_s

jb1991 4y ago
Don’t forget about all the accolades he left on Facebook stock before it had its massive crash.
- smcl 4y ago
  Oh yeah there's definitely plenty more than I mentioned. But I just wanted to highlight that his reputation as this sort of accidental Grim Reaper of companies originated in the GFC back in 07/08
ashwagary 4y ago
A couple days ago he told his audience to sell Bitcoin for USDC, a day later USDC had a -15% depeg event. Yes, he is a comically bad signal.
- smcl 4y ago
  Heh, ok so he's still got the midas touch then :) I hadn't really seen anything of him recently but I figured in a "stopped clock is right twice a day" way he can't possibly always be wrong, but maybe I gave him too much credit

a_techwriter_00 4y ago

It's something of a meme to say talk about shorting what he recommends his viewers buy. Sometimes people will come up with data showing that if you did that over such-and-such a period you'd be up like 50%, but I don't think that's necessarily worse than anyone would do if they had to pick stocks on national TV every day.

zamnos 4y ago

The background on Jim Cramer is less about his accuracy and more about his tv show. He has this show where he just goes off on what to buy and what to sell, on a major news network, from before YouTube, and it's enthralling. If we were to do a montage scene of America and capitalism, he'd be in it, yelling BUY! SELL! BUY! it's just so over the top! if you haven't seen it before here's a recent one https://youtu.be/RKG0Qh51Vq0 https://youtu.be/RKG0Qh51Vq0

whitemary 4y ago
That was significantly more idiotic than I expected. God bless America.

sidlls 4y ago

It's not about his predictions, but his admitted market manipulation. I don't know how "in the know" he is now, but all you need to know about his motivations is encapsulated in the first minute of this interview: https://www.youtube.com/watch?v=8DJlogbrDcA https://www.youtube.com/watch?v=8DJlogbrDcA. He's a market manipulator, or was when he was in that hedge fund, and there's every reason to believe that he still would do this now for his own personal benefit if he could. Basically, if he's promoting a position it's probably a really good idea to strongly consider taking the opposite one, or just ignoring it (which is likely the better idea).

swarnie 4y ago

https://nypost.com/2023/03/03/inverse-cramer-etf-lets-investors-bet-against-cnbc-anchors-stock-picks/ https://nypost.com/2023/03/03/inverse-cramer-etf-lets-invest... The fact multiple ETFs like this exist should tell you all you need to know.