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Jim Cramer vs Jon Stewart, Round Two

There's nothing like being an online pundit, yours truly included, because your views are on record and, if you call the future and get it wrong, boy, are you dead meat.

Jim Cramer knows this when he cried "do not take your money out of Bear Stearns" last March, just days before the broker was dead meat.

Ever since, Cramer's been the target of humour and derision and Jon Stewart on Comedy Central laid into Cramer last week as blogged a few days ago.

The argument has rumbled on and this CNN report is a must watch, for no other reason than the second half of the clip where Jim Cramer appears on the US Breakfast Today Show and watches Jon Stewart lay into him again live and on air.

Ouch. 

Also note that Jim Cramer, whose smile disappeared fairly rapidly there, rallied back with the cry that no-one noted his call to sell all your stocks.

Here's that clip:

This was on October 6th 2008, just after Lehmans collapse, and days after WaMu, Wachovia, Merrill Lynch and company had disappeared.

Back on October 6th, the Dow Jones closed at 9,955.50.  Cramer said he thought there may be a 20% drop in the Dow. Yesterday the Dow closed at 6,926.49, an almost 30% drop.

Okey-doke.

About Chris M Skinner

Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, the Finanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal’s Financial News. To learn more click here...

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  • “I did something you’re never supposed to do if you have a stock show: I said people should sell everything”?
    Wow. Just wow.

  • This is brilliant television (and I adore The Daily Show anyway). Why can’t we produce anything like this in the UK — is it that all the BBC’s “comedians” are ex-Oxbridge friends of ministers, bankers etc?