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Friday, March 13, 2009

Jim Cramer on The Daily Show

Jim Cramer went on The Daily Show to answer Jon Stewart's accusations that CNBC should have warned people and is guilty of harming investors by seeking to entertain instead of help them.

Generally, I love Jon Stewart. When he gets all preachy, accusatory and holier than thou it troubles me. Does he realize that something like 90% of young people 18-25 get their news from The Daily Show, a comedy show that seeks to entertain?

Sure, Cramer makes some bad stock picks here and there -- he makes a thousand picks a day. Some of them are going to be really bad! Statistically, even the greatest traders on Wall Street are wrong over 40% of the time.

Stewart definitely has quite a few gotchas for Cramer and if you like to see Cramer squirm, and I know you do, you'll enjoy this. At the same time, though, it is so misguided and stupid to blame Cramer for the credit bubble aftermath. He's really an entirely symptomatic symbol of an age of excess and not the source of the deep rooted consumerism, greed and waste that has led us here.

At any rate, in its entirety, I give you The Daily Show.

1 comment:

Tex said...

I love Jon also, but he's kind of misguided in this accusation. He says something like "work should be the only means to accumulate wealth" - are we back in the USSR? Cramer's an entertainer and CNBC should do a better job at analyzing, but that's not their mission.

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