Monday, October 06, 2008

Cramer's Cravings

Jim Cramer uttered the equivalent of “Fire!” in a crowded theater today on MSNBC, when he told Ann Curry that people should take any money they’re going to need for the next 5-years out of the stock market. The Manic Man expects Wall Street could lose 20% of it’s value in the future…

If not in the same breath, certainly in the same interview, the incredible Mr. Cramer also pronounced the government’s $700 billion bailout plan a good one, especially since it raises the insurance on bank deposits from $100,000 to $250,000.

Somehow Cramer’s credibility is just a bit tarnished in my book, since he was recommending leaving money in Bear Stearns up until the week it closed.

Maybe that’s why they call his show “Mad Money,” money you can afford to lose.
I can’t afford to lose money…

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