Posted on 10/28/2022 1:38:51 AM PDT by SmokingJoe
The host of Mad Money, Jim Cramer, has apologized to investors for being wrong about Facebook parent Meta Platforms after its stock plunged to a record low. “I made a mistake here. I was wrong,” he said emotionally after stating previously that Meta was a good investment. “I failed to help people. And I own that.”
Jim Cramer’s Apology About Meta: ‘I Was Wrong’
The host of CNBC’s Mad Money show, Jim Cramer, apologized to investors Thursday for recommending Facebook parent Meta Platforms Inc. (Nasdaq: META) after the stock kept tanking following the company’s Q3 earnings release. Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website.
Appearing emotional on CNBC Market Alert, Cramer admitted that he made a wrong call about the Meta stock, telling investors previously that the social media company was a good investment. He said:
I made a mistake here. I was wrong. I trusted this management team. That was ill-advised. The hubris here is extraordinary, and I apologize.
When asked what he got wrong about his previous advice, Cramer replied: “I believed that there was a recognition that there is an amount that you can’t spend … I trusted them, not myself. For that I regret. I’ve been in this business for 40 years and I did a bad job. I’m not proud.” He added: “I did believe that there would be some discipline … I expected discipline.”
(Excerpt) Read more at news.bitcoin.com ...
I still remmember him screaming, "sell, sell, sell" when Tesla wss first floated. And Tesla was worth only $2 Billion then.
Punishment: duct tape his mouth for a year.
Video
Jim Cramer tearing up over META
https://rumble.com/v1qao46-jim-cramer-tearing-up-over-meta.html
Why is Jimbo even recommending? Kinda reads like his old days at THE STREET DOT COM.
https://www.moneycrashers.com/jim-cramers-stock-pick-performance/
Haven’t watched him in years. Reminded me of those late-night used car TV ads
Meta: the Edsel of the digital age...
Jim has been wrong so many times he should have been pulled over a decade ago.
Cramer is a horses ass. His existence is predicated on providing misinformation of his advertisers so they can accumulate positions opposite of his advice and stopping you out, then swing price in the opposite direction. Don’t be a stupid shit and be manipulated by Cramer or anyone else in the so-called financial media.
Anyone that invests, based on this idiot's advice, deserves what they get.
A TV carnival barker selling knives, can openers and the best cooking pans and skillets in the world has more credibility than slick jim.
To be fair: Shouldn't an investment adviser like Cramer put his money into something like this (effectively a "blind trust") in order to avoid accusations of bias?
Regards,
I don’t watch the used car salesman of stock predicting.
But if I did, I’d do the opposite.
He’s been a laughing stock to all the economic folks I follow, and it’s been that way for years. It’s almost to the point that whatever he recommends you just want to do the opposite. To
That guy’s got a show because he’s interesting to watch, if you want my opinion. Just don’t take anything he says seriously, kind of like Chevy Chase when he was on Saturday night live.
Same with Wachovia.....now my WFC cost basis is $200.00. Projected to break even when my 10 year old retires.
I am waiting for ole Jimbo on to have another meltdown like he did in 2008 when the markets took a major dive.
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