Surprise surprise! Jim Cramer successful because he cheated

mudesi

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Tue Mar-20-07 06:07 PM
Original message

Surprise surprise! Jim Cramer successful because he cheated

http://www.nypost.com/seven/03202007/business/cramer_reveals_a_bit_too_much_business_roddy_boyd.htm

Flamboyant Wall Street trader turned TV host Jim Cramer, not known for being the shy, retiring type, might have said too much in a video interview he did for a financial Web site.

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In the video from TheStreet.com's "Wall Street Confidential" Webcast, Cramer boasts about manipulating the price of a high-flying stock down, and even acknowledges that doing so might have been illegal. The video is making the rounds on YouTube.

Right here:
http://youtube.com/watch?v=708wDFX28lc

A remarkably successful money manager when he ran the $450 million Cramer Berkowitz hedge fund, Cramer in the Webcast shared his "tips" on how to drive a stock price down so that a short-position - a bet that a stock price would drop - remains profitable.

Gee, I wonder why he was such a good money manager? But hey, that's unfettered capitalism for you.

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AX10

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Tue Mar-20-07 06:13 PM
Response to Original message

1. Jim Cramer is a DLC todie.

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Fridays Child

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Tue Mar-20-07 06:16 PM
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2. Is he that CNBC guy who runs around the set and screams?

I honestly don't understand how anyone can stand to watch his show.

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jcrew2001

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Tue Mar-20-07 06:51 PM
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3. The markets is always susceptible to the big players

and its probably illegal to spread lies and gossip to drive down prices, he also said it takes a lot of capital to push down the price, so there's still a lot of risk in manipulating a price down.

The stock market is just as much about perception and future forcasts as it is about the reality present day operations.

Its about driving the perception and spreading it to the other brokererage houses, and news outlets for the desired effect.

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