The Bitboy Crypto Podcast
I Found Jim Cramer's Worst Calls (Mad Money Leading People To Ruin)
Mon Jul 10 2023Description
The episode discusses Jim Kramer's reputation as a terrible stock picker and his questionable calls and bad advice. It also explores his discussions on manipulating markets and the existence of Inverse Kramer, a Twitter page that promotes doing the opposite of what he says.
Insights
Jim Kramer's Reputation
Jim Kramer, the host of CNBC's Mad Money, is known for his reputation as a terrible stock picker. He has made several bad calls and gave questionable advice to investors.
Manipulating Markets
Jim Kramer discussed manipulating markets in interviews, revealing tactics such as selling co-options on a stock and leveraging capital to push the market in a desired direction.
Inverse Kramer
Inverse Kramer is a Twitter page that promotes doing the opposite of what Jim Kramer says, highlighting his track record of giving opposite advice.
Chapters
Jim Kramer's Reputation
00:00 - 06:39
- Jim Kramer, the host of CNBC's Mad Money, is known for his reputation as a terrible stock picker.
- He advised against investing in Tesla before its IPO and even recommended selling it after it went public.
- Jim Kramer has an ETF dedicated to inversing his stock picks and told people to sell Stark Industries in Ironman.
- Despite his reputation, Jim Kramer had a successful career as a hedge fund manager before starting Mad Money on CNBC.
Questionable Calls and Bad Advice
00:00 - 06:39
- Jim Kramer made several bad calls, including advising investors not to take their money out of Bear Stearns shortly before its collapse.
- He also picked seven stocks as sure things in 2022, but most of them have performed poorly since then.
- One notable example is First Republic Bank, which collapsed despite Jim Kramer tweeting that it was a good bank.
- He also recommended going all-in on the Coinbase IPO, which marked the top of the last bull run for cryptocurrencies.
Manipulating Markets and Inverse Kramer
06:10 - 08:45
- Kramer Kurz's strength led to the shutdown of First Republic despite major US banks funneling over $30 billion into it.
- Jim's call to go all in on the Coinbase IPO marked the top of the last bull run and resulted in an 80% increase since then.
- Jim discussed manipulating markets in interviews, revealing tactics such as selling co-options on a stock and leveraging capital to push the market in a desired direction.
- Inverse Kramer is a Twitter page that promotes doing the opposite of what Jim Kramer says, highlighting his track record of giving opposite advice.