This is just getting out of hand… we need to stop this man.
pic.twitter.com/UkYYSm3ahQ
— Ahmed Al Assliken 🍑👅 (@assliken) April 25, 2023
Posted on 04/25/2023 8:32:05 PM PDT by SeekAndFind
I regret to inform you that Jim Cramer has claimed another scalp. The notorious “expert” who has produced some of the worst financial takes in history saw another one of his anti-predictions come to fruition on Tuesday after it was reported that First Republic Bank will be seized by the federal government.
To set the stage, a month before Silicon Valley Bank collapsed earlier in the year, Cramer famously recommended its stock as a “buy” at $320 a share. In 2022, he recommended people buy into Signature Bank. By 2023, Signature Bank had shut down.
Following the collapse of those banks, Cramer then moved on to First Republic Bank, telling his followers that it was the “new focus” and “very good.” That means that in the span of a single year, Cramer recommended three banks to invest in. All of them are now defunct or in the process of becoming defunct.
This is just getting out of hand… we need to stop this man.
pic.twitter.com/UkYYSm3ahQ— Ahmed Al Assliken 🍑👅 (@assliken) April 25, 2023
It’s actually impressive how consistently wrong Cramer has managed to be. You’d think he’d hit a few out of the park just by sheer chance, but somehow he manages to be worse at predictions than a guy who makes NFL picks by throwing darts at a wall. Truly, it’s incredible to witness. It’s like being in the presence of greatness, except the greatness in this case is an uncanny ability to fail. You can set your clock by it.
So what’s the broader critique here? I mean, yeah, I just like to dunk on Cramer because it’s hilarious, and I think that’s why you clicked on this story. There’s certainly no shame in that. Yet, I think Cramer’s fame coupled with his continual floundering is instructive about something. Namely, just how useless much of the “expert” class is.
Forget Cramer for a minute. For decades, we’ve been bombarded with the supposed wonders of expertise, ranging from the topic of foreign policy to the economy. How’d those wars in Iraq and Afghanistan go? Is Libya now a democratic paradise, and I just missed it? And clearly, helping to propagate a civil war in Syria, leading to the deaths of nearly a million people, worked out fabulously, right? By the way, remember when the war in Ukraine would end before the year was up?
Economically, things haven’t gone much better. Remember when the experts told us that inflation was going to be transitory? Your bank account surely remembers since it has been slowly drained over the course of the Biden presidency. Whose keeping score, though? Just listen to the “experts,” they said. They know more than you!
Yeah, Cramer’s lack of performance while spouting advice on his CNBC show is parodic, but he’s just a synonym for a much bigger illness. To put it simply, the country is being run by really, really stupid people. It pays more to be wrong than right in our society. Until that changes, the pain will continue.
With that said, I’ve got a plan to turn this all for good.
Can we get Jim Cramer to endorse Joe Biden?
— Bonchie (@bonchieredstate) April 26, 2023
Does Kramer ever admit he was wrong, or does he deflect like a typical liberal would?
“That means that in the span of a single year, Cramer recommended three banks to invest in. All of them are now defunct or in the process of becoming defunct.”
Maybe he’s being paid to tout them in a desperate attempt to shore them up?
“Maybe he’s being paid to tout them in a desperate attempt to shore them up?”
That would make the most sense, as it would lower FDIC liability. Of course, eventually, people will just start shorting whatever banks he recommends.
Yes the country is being run by really really stupid people.
But just get a look at, at a minimum, half the people in this country, who are even dumber. Fat, stupid morons, most of whom vote for demonrats.
I’m a Ludlow kind of guy, the smart kind.
So do the opposite of what he says
Let’s call him NOTstradamus. 🤣
This is my rule of thumb concerning investing:
If I hear “hot tips” on tv, it’s not valuable, if it ever was, and the smart money’s already out of it.
Seems to me the Founding Fathers were aware of just how ignorant the voting public could be. One reason in my opinion they made voting a bit more difficult than is the aim of democrats of today wanting to make it easy and unrestricted in any way for anyone legal or otherwise.
Apparently ignorance wins the day, and if not, cheating will make up the difference needed.
>> It’s actually impressive how consistently wrong Cramer has managed to be.
I remember this douchebag plying his “craft” back in the late ‘90s dot-com bubble era.
It’s astonishing that he’s still at it. Even more astonishing that ANYONE takes him seriously!
>> If I hear “hot tips” on tv, it’s not valuable, if it ever was, and the smart money’s already out of it.
I hear you man! I get all my investing tips right here on FR.
:-)
I remember some clip a while back, with Kramer ranting/blubbering about the “vaccines”, or maybe it was “masks”. The guy is a complete imbecile.
“So do the opposite of what he says”
there’s actually a publicly traded ETF that does exactly that! anyone can buy shares ...
“I hear you man! I get all my investing tips right here on FR.”
ROTFLOL!
Actually he does admit his mistakes more openly than any other TV personality I can think of. For instance recommending Silicon Valley Bank.
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