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I like Jon Stewart, I loathe Jim Cramer, and for days they've been sparring. Stewart went after Cramer saying he'd given BAD stock tips. Bad is an understatement!!
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Two weeks before Bears Sterns went breasts skyward, Cramer was touting them as a buy, buy, buy, they're going to turn around, make a ton-a-money, stock. How'd that work out?
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Regardless of what you think of either man, Stewart is knowledgeable on pop culture and politics, and has a degree in psychology. He's funny, most nights, and knows his guests well before they appear. On many occasions I've seen Stewart admit that he didn't know his interviwees field of expertise well. He'd then ask good questions, mixing it with humor. Often times his slant on the news and politics is dead on. Last night he was dead on Cramer like a cruise missile on a Taliban Training Base.
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Cramer on the other hand is a guy who tries to mix 60's AM radio DJ hijinks and sound efx, with the Dow-Jones Average. He has a journalism degree, a law degree and used to run a hedge fund. His TV show is mostly him expounding on how smart he is. (how much Bear Sterns did HE buy?) Even after Stewart started hammering him over stock tips like the Stearns thing, Cramer defended himself, often saying how much more he knew about markets than does Stewart. Last night he looked like a kid with his hand caught in a cookie jar.
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On last nights "The Daily Show", Cramer was Jon Stewarts guest, and he laid Cramer out, plain and simple. It's a definite watch from two stand points. First, Stewart was excellent as the guy showing how some stock analysts are like any other gamblers. Second it showed just how little defense those analysts have for the bad picks they make.
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And NEVER forget, something I think Stewart should have mentioned, the stock analysts, traders, fund managers make money REGARDLESS of whether you buy, sell, win or lose.
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Las Vegas has the same deal to offer you. They run the game, the odds are long and it's about their profits first. Only, they're honest in Vegas. They'll tell you they're counting profits per heads coming in the door, just like Wal-Mart. And in Vegas, except the slots, you have some control over the games and you can hold the cards.
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Schteveo likes de Black Jack
9 comments:
First, who cares! Second, it's TV! It's all fake! Everything on TV is now simply entertainment, (assuming you believe it's entertaining) including, and especially the so-called news. It's like going to the circus, except you're in your own home, and it's in HD. Remember, the "only" reason there's anything on TV is so they can sell you tons of crap you don't need.
You like Jack Black?
Never heard of him. (it?) But i would like to see Salma Hyak in that outfit! ;)
Spidey, The question was directed at
Schteveo but this is as close as I could get. :-)
Spider,
you're kinda making my (and Stewart's) point.
Here's a guy on cable TV, Cramer, giving stock advice, and bad advice at that, and people followed his lead. Why?
Because he was a hedge fund guy who made people money in the market at some time. But does having a TV show make him smart? Accurate? Good at his job during adverse markets?
Evidently not. But he's insulated from the problems, as are guys who manage money who DON'T have a TV show.
And the guy who took him apart? A comedian and entertainer. His show mocks the Katie Cutiepie's and Dan Rathers and does it well, entertaining and spoofing them all the while.
Again, one simple question, WHY should Jon Stewart be the voice of reason here? Is he supposed to be the guy who points out our problems?
Isn't our (cough, cough, snort) gub'ment and it's regulatory agencies supposed to protect us from charlatans and hucksters? How can it when some of the snake oil comes from the gub'ment itself? In private industry that's called a conflict of interests and there are gub'ment agencies to see that it doesn't happen. Jay-EE-zus!! It's all to circular.
Dude, I'm all for the stock market. Selling stock is the only way to grow a business larger than your garage workshop, quickly. But I rarely hear these stock guys tout the risk of buying stocks, along with the rewards. The companies themselves have to, but not the independent guys.
As bad as they are at it, the USDA at least tracks down bad peanut butter eventually. The banking committee / Congress / WH got together and PAID the banks and stock companies for screwing us!!
Cramer and his ilk, are no different than Barney Frank telling people to invest in Freddie Mac and Fannie May, knowing they were in dire trouble. Frank can claim some cover of ignorance though, he's in Congress.
A place not known for employing geniuses.
Randolph, "Now here's the good part, Mr Valentine, no matter whether our customers make money or lose money, we make money!"
Valentine, "You sound like a couple of bookies to me!"
Randolph to Mortimer, "See I told you he would understand!"
Thanks a lot Lady-Bug! You fantasy killer, you.
Steve, they all suck!
They both suck. I like Jack Black and Blackjack
I personally think the genius of Homer Simpson is overlooked.
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