Just How Many More Years of Jim Cramer Must We Put Up With?

 

My mother-in-law is very close to retirement.  She actually gave her notice and then very nicely agreed to work a bit longer when they didn’t find anyone to replace her by the time she was set to leave.  But, her clock now is ‘any day’ and I know she’s looking forward to it.

This past Christmas, my father-in-law gave her a present, a little countdown clock that counted down the number of days, hours, minutes, and seconds to her official date.

It reads zero now, and I’m wondering if we might possibly send it to Jim Cramer and have him program it.

Because, seriously, if there’s one person whose retirement I cannot wait for, it is Jim Cramer.

An Expert At Being A Loudmouth

I’m not sure who gave this guy a microphone and who dictated him some financial wizard, but by now anybody that has ever invested money into the market in the last 15 years probably knows who he is.

I seem to remember him first coming out during the 1990’s tech boom and at the time, he was kind of entertaining.

Now, he’s just annoying.

Let me count down the ways in which I dislike Jim Cramer and hopefully will see his retirement announcement soon!

He’s loud and obnoxious

You want to be on TV, you have to stand out.  I get that.  But Cramer is just annoyingly loud.  He never does or says anything calmly!  People are likely nervous enough about their money being in the market, I just can’t see why people want to follow someone that just adds anxiety where no more is needed.

He’s a know-it-all

When you’re good at something, you have a right to boast or act like an expert, but to cross the line to think that your past success means that you know more than every other person on the planet is outright ridiculous, yet that’s what Cramer does.  And, he has been wrong quite a bit, but simply changes his story after the fact to make it seem like his words were twisted.  Stand up guy, I’ll tell you!

mb-2015-08-retireHe instigates herd mentality

Reading message boards on the market, I can’t tell you the number of times someone started their post with “Cramer said…”  It’s scary.  Nobody should have the control over peoples minds that he does.  The average dope (my shortened word for people who are willing disciples of Cramer) may not be an expert in the stock market (and I know I’m not), but Cramer gives way too many people the option to not even try to learn anything about what they’re doing with.

He probably scares small children

Well, I have to believe that this is true, anyway.  He scares me and I’m pretty hard to scare.

He exponentially oversimplifies things

Years ago, I did a lot of the computer work for a small financial adviser firm.  The one owner was OK about talking investments, and one time I brought up a stock, said that I’d heard that it was a can’t miss stock, and what did I think?  He pulled up the news, looked at it, and then pulled up a bunch of charts.  Everything went over my head but that was my first learning of technical analysis and chart reading, two things that real experts do.  He then brought up charts and such on the market and explained how that all fit in.

I stood there for 30 minutes, had most of it go over my head, and only then did he give the recommendation that…..it wasn’t a good stock.  And it turned out he was right.  When I later pointed that out, he said “Well, yeah, even after that I got lucky.  I stay in business because I get more right than wrong, but I do get some wrong.”  Cramer makes it sound like it’s easy and that what he says is a sure thing, and sadly too many people believe that.

As you can tell, I really don’t like him and have no appreciation for him, but I also know that he’s one of the most recognized names in the investing community, so he has to be doing something right.  Whatever that is, I want no part of it.

Want to join me in setting up a Cramer Retirement Countdown Clock?  Who knows, maybe that’ll be the next can’t miss opportunity in the market?  Now, wouldn’t that just be ironic?

Readers, what do you think about Jim Cramer?  Love him?  Hate him?  Rich or poor because of him?  Please leave your thoughts in the comments.

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9 thoughts on “Just How Many More Years of Jim Cramer Must We Put Up With?

    • Yeah, he’s rather brash. Definitely off-putting for many though many in the industry seem to fit the mold, so I guess it makes sense. And also makes sense why I never got into finance.

  1. I’m with ya on this one! Jim Cramer was great at first when he began as a guest on “Squak Box” with Joe and David…..But now he’s just a loud mouth who will rarely if ever admits he’s wrong. Aaaand you’re right he creates a “herd” mentality not too different from the “pump and dump” schemes of old. What I have come to realize is the Stock Market has changed. Now it is driven by VERY large retirement and mutual funds that can cause large swings in the market….Your thoughts?

    • Absolutely. Between that and the HFT algorithms, things can change very quickly, and yes the market has changed a lot. One example is that in the past, if a stock didn’t have anything going on for awhile to move the price, it would often simply stay put. Now, no news is perceived as negative news and it tends to drift down. I think this has a lot to do with traders pushing a stock to prices that trigger stop losses, then swooping in to claim the cheap shares. It’s really turning into a scam.

  2. The problem with Cramer and his ilk, is that if he gave out practical, useful, GOOD advice to investors, it would be “invest for the long term” and “buy the market” (i.e. index funds) and “aim for low costs” – and since he has a weekly show to fill, he’d be either repeating himself constantly, or run out of stuff to say 🙂

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