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Jim Cramer/Market Meltdown
Topic Started: Aug 7 2007, 10:40 AM (150 Views)
justme
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HOLY CARP!!!
http://www.youtube.com/watch?v=SWksEJQEYVU
"Men sway more towards hussies." G-D3
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Daniel
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HOLY CARP!!!
Wow, I stopped watching it. Did he run to the window and jump out of it? Crazy.
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jon-nyc
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Cheers
Looks more like a Cramer meltdown than a market meltdown.
In my defense, I was left unsupervised.
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ivorythumper
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I am so adjective that I verb nouns!
I'm glad i'm not invested with him. :eek:
The dogma lives loudly within me.
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The 89th Key
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I was watching that...here is his response a day or two later:

http://www.thestreet.com/s/cramer-why-i-to...s/10372626.html

However, anyone who has seen his show knows that the level of energy he displayed in his "meltdown" was pretty standard for his usual performance. But you could tell this time he was honestly pissed at the situation as opposed to just being energetic.
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JBryan
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I am the grey one
That poor woman probably had to squeegee the saliva off herself afterwards.
"Any man who would make an X rated movie should be forced to take his daughter to see it". - John Wayne


There is a line we cross when we go from "I will believe it when I see it" to "I will see it when I believe it".


Henry II: I marvel at you after all these years. Still like a democratic drawbridge: going down for everybody.

Eleanor: At my age there's not much traffic anymore.

From The Lion in Winter.
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TomK
HOLY CARP!!!
That is the funniest thing I ever saw.

Also, you have to understand--all those stock brokers, etc. are all phonies. They have now clue of how the market works--no one does. It's to complicated. They just sit back for the ride--for good or bad. I worked on Wall Street for 12 months out of Grad School.

If they really understood how things worked--they would be working for themselves.
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jon-nyc
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TomK
Aug 7 2007, 02:46 PM
If they really understood how things worked--they would be working for themselves.

???


I know a lot of guys who have pretty cushy jobs that pay in the 8 figures.


Seems like they got it figured out to me.


Like Spector (the Bear co-president that just got axed) - how many years do you have to make 30mm+ before you're good?
In my defense, I was left unsupervised.
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TomK
HOLY CARP!!!
jon-nyc
Aug 7 2007, 02:49 PM
TomK
Aug 7 2007, 02:46 PM
If they really understood how things worked--they would be working for themselves.

???


I know a lot of guys who have pretty cushy jobs that pay in the 8 figures.


Seems like they got it figured out to me.

Sorry, I meant only if they had ounce of decency.

I'm sure your friend is more than happy doing what he's doing.
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jon-nyc
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TomK
Aug 7 2007, 02:51 PM
Sorry, I meant only if they had ounce of decency.

Really? My experience is that small-time entrepreneurs are more likely to be dishonest or corrupt than corporate or financial executives.
In my defense, I was left unsupervised.
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justme
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HOLY CARP!!!
Cramer may be expressing himself badly but he's absolutely correct there are a lot of people losing their homes and there are going to be a lot more.
"Men sway more towards hussies." G-D3
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jon-nyc
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justme
Aug 7 2007, 02:54 PM
Cramer may be expressing himself badly but he's absolutely correct there are a lot of people losing their homes and there are going to be a lot more.

He does say that, but I think he's more worried about Bernanke bailing out the bond market than he is the little sub-prime guy.
In my defense, I was left unsupervised.
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TomK
HOLY CARP!!!
justme
Aug 7 2007, 02:54 PM
Cramer may be expressing himself badly but he's absolutely correct there are a lot of people losing their homes and there are going to be a lot more.

People are loosing their homes because they have no idea how to take care of themselves. Lots of people became WAY overextended on their mortages.

And part of the problem was that the mortage companies stopped being their nannies. They stopped checking people's income and credit and all that--they just loaned money, because the housing prices were increasing so fast that they felt the increase in house prices would make up for the questionability of people's ability to pay.

The mortage companies knew what they were doing when they did this stuff. So did the home buyers.

I was an institutional mortage trader for Payne Webber when I worked on Wall Street.
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TomK
HOLY CARP!!!
jon-nyc
Aug 7 2007, 02:54 PM
TomK
Aug 7 2007, 02:51 PM
Sorry, I meant only if they had ounce of decency.

Really? My experience is that small-time entrepreneurs are more likely to be dishonest or corrupt than corporate or financial executives.

When I used to be on the Street I was paid to bundle up bad mortages, split out the principal from the interest and then have some dufus salesman sell the crap to savings and loan presidents in hopes of future riches. I worked for a major firm and I was morally, tho' not legally a crook. That's why I got out.

And there's no difference between that and some "broker" that takes a hundred grand of some guy's life savings and helps him invest "wisely."



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