I have reached the now inescapable conclusion that Cramer’s show is structurally unsound.
Its something I suspected for the past few months, and this now absolutely confirms it. Its not the specific outcomes, but the process I am questioning. You simply cannot do the requisite home work and deep thought necessary to intelligently discuss dozens if not 100s of stocks per week, PERIOD.
Cramer gets big kudos for creating TheStreet.com, and for bringing a refreshing bluntness to CNBC. However, filling 5 Hours of weekly TV time by himself has become madness. It leads to
disasters "misundertandings" like this:
"Bear Stearns is fine — do not remove your money from Bear"
This sort of stuff is easily preventable.
My advice? Three Simple things:
– Revamp the show, bringing in a partner or even a panel.
– Use more guests to take the workload off of Cramer.
– Learn to occasionally use the following phrase: "I DONT KNOW."
is nothing wrong with a "no opinion on that stock" when you simply are
not updated, or are lacking in time to do the homework.
Oops – CNBC’s Cramer Said ‘Don’t Move’ From Bear a Week Before Collapse
‘Mad Money’ host drastically underestimated the investment bank’s trouble surrounding the mortgage crisis.
Business & Media Institute
3/17/2008 3:19:20 PM