Prediction: Cramer Goes to Jail

[soxmang]

I want to go on record as predicting that Jim Cramer will at some point be indicted and may even serve time for violating securities laws. Yesterday's announcement about the subpoena is only the beginning. There is a reason there has never been a stock picking TV show before and this is it.

[mhertz]

Hahah...you certainly aint going to jail based on this recent subpoena -- the government essentially requested that any bearish analyst on that stock be subpoenad -- that's why him and Herb and that WSJ columnist were.

Obviously he may one day be indicted on something else -- but that could happen to anyone. This most recent "escapade" wont result in any jail time for Jim.

[Pierre]

Man, this Patrick Byrne from overstock.com is whacked... on the other hand I don't see him on TV throwing innocent chairs against the wall and screaming "booyah" at the top of his lungs... with all due respect to the "journalists", if Enron folks can lie and manipulate, so can Dan Rather...
My other take, both Herb and Jim can scream louder than the SEC, but I suspect a few job openings @ CNBC...

[BOOOYAHOOO!]

Man, this Patrick Byrne from overstock.com is whacked... on the other hand I don't see him on TV throwing innocent chairs against the wall and screaming "booyah" at the top of his lungs... with all due respect to the "journalists", if Enron folks can lie and manipulate, so can Dan Rather...
My other take, both Herb and Jim can scream louder than the SEC, but I suspect a few job openings @ CNBC...

Trust me, if the SEC glossed over the obvious insider shenannigans that was goin on jist befo the day it was anounced that Howard Stern was comin to SIRI, there is no way any journalist is going to jail over a brooohaha with a CEO of a company, especially a company like OSTK which was an $8 company even when it was trading at the 52 week high! Cramer ends up under "deep" psychiatric supervision..not jail. LOL

[zyzzyva57]

Cramer is about as transparent as it gets in this game. If Overstock and Lucent and others want to stick it to the shorts, how about doing an "HP" and clean up their biz! Remember Cramer is amoral when it comes to making a buck, if it is legal. I have seen him push a company he formerly disliked when the company cleaned up its act.

[umassjsp]

Cramer is showing his Democratic roots more and more and his dislike of Bush is seeping thru as well. He should keep his politics to himself and leave the punditing to Bill Oreilly.

[chinaman711]

Got to love the guy and he really does help the little guy. I remember before he became rich and famous and was doing a few guest spots on cnbc back in the 90's. At the time he and his partner were running a hedge fund and doing well during the internet craze. I was trading net stocks and would hang out in the motley fools chat room where there were several great traders like tokyomex making some great calls. Almost everyday Cramer would drop in and answer questions about stocks and give out a few ideas. He and tokyomex would really get into some heated debates on some days and it was great. Cramer went on to the big time and Tokyomex almost did some time as he got into trouble with the sec for his trading. Those were the good ole days : )

[axb8000]

umass I don't think Cramer is very partisian on his show.

I also don't expect Cramer to ever go to jail (but perhaps his show implodes over some scandals in 3 or so years). I am happy that overstock.com's CEO discovered Darth Cramer as the infamous sith lords that have been out to get him.

[InvestingMoron]

Doesn't Cramer have a huge disclaimer at the beginning of every show scrolling on the left hand side?

I think OSTK's CEO is a bogus crock, but whatever. Cramer adds flair and attention to the market, bringing in people that would normally not be investors or even look at the market. The man has charisma and people easily like him.

Personally, I don't agree with everything Cramer says and I sure as heck don't follow all of his recommendations. But I do like the show, and I like what he brings to America....the idea of investing to make life easier for you in the future. I think that Cramer is what Wall Street needed for a long time, to bring life to what 90% of America considers boring and above their heads.

I say Cramer's just gonna get more attention, the show ratings will skyrocket, and more people are going to invest. They might not do their own homework, and follow Cramer's every word, but I don't see him as a crook......just a man bringing some attention to Wall Street.

[optimus25]

disclosure, disclosure, disclusure. nuff said.

i'm beginning to see a trend w/ cramer haters...they all lost some money at one point or another.

[Bman409]

Got to love the guy and he really does help the little guy. I remember before he became rich and famous and was doing a few guest spots on cnbc back in the 90's. At the time he and his partner were running a hedge fund and doing well during the internet craze. I was trading net stocks and would hang out in the motley fools chat room where there were several great traders like tokyomex making some great calls. Almost everyday Cramer would drop in and answer questions about stocks and give out a few ideas. He and tokyomex would really get into some heated debates on some days and it was great. Cramer went on to the big time and Tokyomex almost did some time as he got into trouble with the sec for his trading. Those were the good ole days : )


Was Tokyomex , "Toyko Joe"?

YOu're right about the late 90s, early year 2000.. the markets were NUTS then

I traded on Etrade back then and there was a guy named "Waxie" posting on the Etrade boards all the time

He turned out to be Michael Parness, who came up with some sort of "trading system" that he sells. He made millions and he's a frequent guest on the Fox News "business block" on Saturday mornings (although I try not to hold that against him)

Bman

[optimus25]

All cool stories. Maybe one of these days, a guy from this forum will make it big and post out a cool shout out to us little guys.

[berberick]

Cramer is a market guru . He is a man who earned ungodly amounts year after year as a hedge fund manager . Just because you are a market loser who earned a neg. amount investing does'nt mean Cramer is a criminal .

[Pierre]

Market Guru... gimme a break!
The only good thing Cramer is doing now is providing decent education to new traders, via his book and his show. More importantly for the traders that survived the dot com boom and subsequent bust, he is bringing new money into the mix. Now, where do you suppose all that new money is going to end up? That's right, into the hands of the smarter traders. This ain't the World Poker Tour, kids... This ain't flippin properties... this is the real world, where you can lose money in the blink of an eye.
I used to think the playing field was level, I can assure all of the new investors coming in now, it's not... nor has it ever been.
The most important thing I have learned since the bust is this...The only person that will buy my shares, is convinced that they are worth more and the only person that will sell me his shares is convinced that they are worth less... It's supply and demand...it's not about being right, it's about picking the right entry price and more important, picking the right exit...
Cut your losses short and let your profits run...
So with that in mind, I welcome all of the new " expert" traders...
One other thing, I'd be a lot more concerned with the traders that don't post on chat boards then the ones who do...Watch your charts like a hawk, time and sales... and for God sakes, use Level II...
Have a good day!

[sportsmadness80]

Market guru .... well he does have a substantial fund for charity. And he does educate traders. So I would say both of your posts say positive things and I feel Jim is sincere about some of the things he preaches. But yes you cant believe all that is said otherwise we would all be very gullible traders. :lol: