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Jon Stewart vs Jim Cramer

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  • #46
    Originally posted by I KNOW IT ALL View Post
    I'm not saying there is anything wrong with the Daily Show pointing out a mistake that Cramer made in his predictions. That's what the show does. I just don't get the argument that Cramer did something "wrong" or "unethical" when all he was doing was providing his opinion on the market. It's not like he was only one who was still bullish at that time.
    The problem is that while he is providing his opinions, the network CNBC, makes him out to be right. Whether he agrees with them projecting him as such is not what Stewart is attacking. The Daily Show was making a commentary on the network as a whole. All day, that network talks about what they cover as if they are the authority on the subject, thus, indirectly proclaiming they know the most. They play commercials that say that they are "the only network with the information and experience you need" as if you should look no where else for advice.

    Pick the Winners Champion 2008 | 2011

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    • #47
      Originally posted by Brent View Post
      The problem is that while he is providing his opinions, the network CNBC, makes him out to be right. Whether he agrees with them projecting him as such is not what Stewart is attacking. The Daily Show was making a commentary on the network as a whole. All day, that network talks about what they cover as if they are the authority on the subject, thus, indirectly proclaiming they know the most. They play commercials that say that they are "the only network with the information and experience you need" as if you should look no where else for advice.
      Every network does that. Every news network claims to be the most fair, balanced, informative, blah blah blah.

      Show me even one example where CNBC made a claim that they cannot back up. They never said they were always right. They never said they were the best at picking stocks.

      And who says CNBC isn't the authority on the stock market? Do you think ANY of the networks predicted the meltdown? Nobody did, or if they did, they are sitting on a pile of cash right now!

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      • #48
        Originally posted by I KNOW IT ALL View Post
        And who says CNBC isn't the authority on the stock market? Do you think ANY of the networks predicted the meltdown? Nobody did, or if they did, they are sitting on a pile of cash right now!

        I am hoping/assuming this refers only to networks. Plenty of well respected people predicted this and the signs were/are fairly obvious.

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        • #49
          Originally posted by Hollywood View Post
          I am hoping/assuming this refers only to networks. Plenty of people predicted this and the signs were/are fairly obvious.
          People predicted this? Like who? And what were the signs?

          You realize that you could have made millions upon millions of dollars if you predicted the meltdown, right?

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          • #50
            Originally posted by I KNOW IT ALL View Post
            People predicted this? Like who? And what were the signs?

            You realize that you could have made millions upon millions of dollars if you predicted the meltdown, right?
            Check out the hundreds of thousands of us who were Ron Paul/Peter Schiff followers. Do a youtube search of Peter Schiff predicts collapse. Here is a good one:

            http://www.youtube.com/watch?v=LfascZSTU4o

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            • #51
              and the most obvious sign BTW were me looking outside my window and seeing hundreds of thousands of new rooms going up in these huge condos in Hollywood, Hallandale and all of South Florida and using common sense saying where are all these buyers going to come from? Who is financing this? Why are people paying half a million for an 800 square foot one bed one bath Condo in Hollywood that would be $80,00 five years ago??

              It was not right and if people used common sense instead of greed it was fairly obvious IMO.

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              • #52
                Originally posted by Hollywood View Post
                Check out the hundreds of thousands of us who were Ron Paul/Peter Schiff followers. Do a youtube search of Peter Schiff predicts collapse. Here is a good one:

                http://www.youtube.com/watch?v=LfascZSTU4o
                Right, so that's two guys? Out of thousands/millions? Come on...

                Don't even get me started on Paul either...

                Gold standard? LOL.

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                • #53
                  Originally posted by Hollywood View Post
                  and the most obvious sign BTW were me looking outside my window and seeing hundreds of thousands of new rooms going up in these huge condos in Hollywood, Hallandale and all of South Florida and using common sense saying where are all these buyers going to come from? Who is financing this? Why are people paying half a million for an 800 square foot one bed one bath Condo in Hollywood that would be $80,00 five years ago??

                  It was not right and if people used common sense instead of greed it was fairly obvious IMO.
                  So why didn't you short the market and make a killing if it was so obvious?

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                  • #54
                    Originally posted by I KNOW IT ALL View Post
                    People who bet on football games get hurt if they're wrong.

                    Are you trying to say giving financial advice should be illegal? If you are stupid enough to believe that investing in the capital markets is foolproof, you deserve to lose your money. Seriously, nobody is idiotic enough to invest their life savings into a stock because some talking head on TV said to do it.

                    The guy gives stock advice, not guarantees.
                    The difference is that if you lose on a football pick you lose 100% no matter what. If you lose on the stock market one day then you have thousands of other days to get out or for it to come back. Your stock may go down 1% here and another 1 % there. Very few you will see a stock crash like Bear Sterns or Fannie Mae. Everyone knew Fannie Mae and Citi were in trouble so people had their opportunity to get out. You can invest in Bank of America and pretty much lose 30% or gain 30% every day.

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                    • #55
                      Originally posted by jayceheathman View Post
                      The difference is that if you lose on a football pick you lose 100% no matter what. If you lose on the stock market one day then you have thousands of other days to get out or for it to come back. Your stock may go down 1% here and another 1 % there. Very few you will see a stock crash like Bear Sterns or Fannie Mae. Everyone knew Fannie Mae and Citi were in trouble so people had their opportunity to get out. You can invest in Bank of America and pretty much lose 30% or gain 30% every day.
                      I have no clue what point you're trying to make here, sorry.

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                      • #56
                        Originally posted by I KNOW IT ALL View Post
                        So why didn't you short the market and make a killing if it was so obvious?
                        How do you know I didn't? And it was not two guys, it was hundreds of thousands of his followers like me who were screaming this at the top of our lungs a year and a half ago.

                        EDIT: And let's not make this about Dr. Paul and his gold standard ideas as they will just lock this thread.

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                        • #57
                          Originally posted by Hollywood View Post
                          How do you know I didn't? And it was not two guys, it was hundreds of thousands of his followers like me who were screaming this at the top of our lungs a year and a half ago.

                          EDIT: And let's not make this about Dr. Paul and his gold standard ideas as they will just lock this thread.
                          So did you short the market or not? I somehow doubt it because you could be sitting on millions if you were so sure of the meltdown.

                          I think it's reasonable to say a lot of people expected a correction (as we tend to get every few years, last one was post 911/tech bubble) but nothing like what we're experiencing now.

                          So let's say good old Peter and Ron were wrong about this and the recession never came...would you be ripping them for pretending to be infallible or would you realize they just made a bad prediction?

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                          • #58
                            Originally posted by I KNOW IT ALL View Post
                            So did you short the market or not? I somehow doubt it because you could be sitting on millions if you were so sure of the meltdown.

                            I did short the market but I am not sitting on millions. As the saying goes you need millions to make millions.

                            I think it's reasonable to say a lot of people expected a correction (as we tend to get every few years, last one was post 911/tech bubble) but nothing like what we're experiencing now.
                            I think it is fair to say a lot of people did expect a correction but from where I am sitting I also think it's fair to say that a lot of us did expect things to get this bad and do expect it to stay bad/get worse.


                            So let's say good old Peter and Ron were wrong about this and the recession never came...would you be ripping them for pretending to be infallible or would you realize they just made a bad prediction?
                            No. I would never blame someone for my losses as I am the one and only person responsible for my own actions. Come on, that is libertarian 101. :)

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                            • #59
                              Originally posted by Hollywood View Post
                              I did short the market but I am not sitting on millions. As the saying goes you need millions to make millions.



                              I think it is fair to say a lot of people did expect a correction but from where I am sitting I also think it's fair to say that a lot of us did expect things to get this bad and do expect it to stay bad/get worse.




                              No. I would never blame someone for my losses as I am the one and only person responsible for my own actions. Come on, that is libertarian 101. :)
                              OK, so we're on the same page. I'm not saying it's wrong to cut into Cramer for being wrong, that's perfectly acceptable. We always rip into people for predicting the wrong thing. But...we should never rip people for making predictions period. Sometimes you're right, sometimes you're wrong.

                              You could have easily leveraged yourself and shorted certain stocks like big financial conglomerates to make millions even if you only had thousands to play with.

                              The point is nobody knows exactly how the market is going to play out or the timing of it either. Plus, the market is 100% human-controlled so you're basically trying to predict how a huge group of individuals are going to valuate the future potential earnings of a company. Not an easy proposition for anybody.

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                              • #60
                                this could get interesting. people saw it comming but didnt know how bad or when it was comming or which sectors(some have been doing ehhhh some have been ****)
                                Last edited by bored of education; 03-12-2009, 06:19 PM.
                                my scent?...like making love to a lumberjack
                                <TACKLE> i will ngata give you a bj raji
                                <+BOE> Scott, with Burfict's character concerns (whether legit or not) you think Pioli would draft him. :D
                                <+ScottWright> Why not. Baldwin does need a sparring partner...
                                Originally posted by Hermstheman83
                                What's with the hate on Ricky Stanzi? Those youtube clips of him with the hulk hogan theme music instantly make him better than Luck.

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