Jim Cramer's Mad Money: The Imminent Collapse of the Jim Cramer Show: Issue # 588
By Dr. Mark Skousen, Chairman, Investment U
I predict the Jim Cramer show will bite the dust…
I ran into an exec at CNBC last week, and asked him about Jim Cramer’s Mad Money show. Cramer gets so excited that he could collapse from exhaustion at any time. I asked, “Do you think he'll last another five years?" “Oh, less than that!” he confided.
If you are like me, you can take only so much of Jim Cramer and the Cramer Effect. (I personally can’t watch his show for more than five minutes before getting a headache.) This wild man of CNBC is a walking disaster, who willy-nilly makes speculators millionaires one day and bankrupts them the next.
I’ve never seen anything like it in my 40 years on Wall Street. I’m surprised the government hasn’t shut him down. A good company with solid earnings can crash in a day if Cramer pushes the “sell, sell, sell” button, or a lousy company with no earnings can skyrocket if Cramer hits the “bull” horn on the screen.
Madness, you say? Boo-yah! This pied piper is not only mad, he’s an egomaniac. Harvard Law School must be terribly embarrassed by its most outlandish graduate. As a colleague on Wall Street, I certainly am...
In short, Cramer has taken Wall Street down a drunken road ever since the refined and eloquent Louis Rukeyser sadly left the scene. Lou, come back and save us from this crazy bobble-head!
What's Wrong With Jim Cramer?
Why would I oppose the likes of a Jim Cramer on CNBC? What’s wrong with a little entertainment? Plenty. We here at Investment U aim to help you become better investors yourself. In each issue, we preach against relying on one financial guru for your investment decisions, or following the latest hot tip. Too many naïve investors are hooked on the likes of Cramer and his dog-and-pony show.
Instead, we urge you to become educated, and make your own investment decisions. This is fundamental. We recommend that you read the best books and attend the best conferences to learn everything there is to know about the business of investing.
One of my favorite financial books is J. Paul Getty’s How to Be Rich. (Note: The title is distinct from Donald Trump’s ramshackle How to Get Rich). Getty’s book is an educational powerhouse of business and investment wisdom from cover to cover. He must have had Mad Money in mind when he wrote years ago in his must-read chapter “The Wall Street Investor"...
"...Get-rich-schemes just don’t work. If they did, then everyone on the face of the earth would be a millionaire. This holds true for stock market dealings as it does for any other form of business activity.
Don’t misunderstand me. It is possible to make money – and a great deal of money – in the stock market. But it can’t be done overnight or by haphazard buying and selling. Thus big profits go to the intelligent, careful and patient investor, not to the reckless and overeager speculator.
The seasoned investor buys his stocks when they are priced low, holds them for the long-pull rise and takes in-between dips and slumps in his stride."
Let me tell you something: Jim Cramer is no J. Paul Getty.
As many of you know, for the past 26 years I’ve been making predictions in my newsletter. Well, I have a forecast for all you crazy Cramer fans out there. The Terror of Wall Street is about to run out of gas. Everybody is talking about it. He works up such a sweat that people are wondering when he’s going to collapse and end his show for good.
First of all, I don't want to be crass, or wish anyone any ill will, but this madness has got to stop sometime – for his own good and for the good of all investors.
Anyone who has watched his show knows that Cramer goes ballistic during his 10-minute “lightning round,” when listeners eager for a hot tip call in and Cramer gives a 10-second summary of the stock. During this crazy segment, his blood pressure goes through the roof.
I predict Jim Cramer will soon run out of gas and collapse in exhaustion during a future “lightning round." This gives new meaning to the word D-Day.
May Jim Cramer recover and repent of his wicked ways!
Good investing,
Mark
weekly Investment U e-Letter by Dr. Mark Skousen.
