Saturday, January 19, 2008

Cramer Loses 50k Bet to Eric Bolling

Cramer will donate the money to Bolling's charity. If anyone remembers, Cramer(who in my opinion has killed more people than the great plague)said that the financials would be the best performing sector for 2007. Bolling said it would be oil and gold. And this guy gives out 30 stocks a night to buy. Dangerous.

7 comments:

Ragin' Cajun said...

That was a terrible prediction by Cramer.

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upsidetrader said...
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upsidetrader said...
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Stewie said...

NO wonder he hates Ben bernanke.

upsidetrader said...

stewie
i never thought of it that way--lol

upside

Jack said...

Cramer has been in a total panic for several weeks now. That is bullish. He also has not gone into his bottom predicting mode,which usually means much pain for longs.

I do wonder what Bernake is up to. Since he began raising rates,oil has gone through the roof,the dollar has collapsed,inflation has increased,the consumer has stopped consumin(according to cnbc),people are being foreclosed on and the entire finacial system appears at risk. Wouldnt it have just been easier to toughen laws on mortgage lending and inch our way of this mess rather than nuke it? Was he trying to bring the price of oil down? Doesnt anyone at the Fed remember it was Greenspan who encouraged individuals to use teaser loans and institutions to lend to anyone breathing?
Rather than get the result he hoped for Ben has created doubt and fear about US financial system. The dollar is as much based upon respect for the US financial system as any other factor and Ben has demolished that. Add to all of this the potential of a Dem president and end to Bush tax cuts and its tough to be a buyer.

The experts say we need a big down opening and we should get that tuesday unless Bush or Ben do something.

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I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.