Categories: OLD Media Moves

Cramer wastes his opportunity

George Chamberlin, a business columnist for the North County Times in California, writes Sunday that “Mad Money” host Jim Cramer wasted an opportunity when he talked about manipulating the stock market when he ran a hedge fund.

Chamberlin wrote, “I admit that Cramer has always scared me silly. Not that I would ever follow his knee-jerk recommendations on his TV show. But, unfortunately, many people do. He draws people in with his ‘boo-yah’ banter, and they jump at his every word on this stock or that.

“Here’s the problem: Most individuals are long-term investors, and they don’t realize that most of Cramer’s recommendations are for short-term moves in the market. The curbs along Wall Street are littered with people who thought they could make a quick buck by gambling in equities.

“Cramer has used the Internet — he was the founder of TheStreet.com — to make his fortune, and people are using the Internet to respond to his confession.

“It’s drawing comments ranging from those that want him to be taken off the air to those who think there is something to be learned from what Cramer said.

“What disappoints me the most is that Cramer is wasting a great opportunity. His popularity creates the chance to really do well by educating people on the true risks and rewards of investing. Cramer is an educated man —- law degree from Harvard —- with a powerful personality. His books and radio program are actually very good. What a shame it is all wasted.”

Read more here.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.

Recent Posts

LinkedIn finance editor Singh departs

Manas Pratap Singh, finance editor for LinkedIn News Europe, has left for a new opportunity…

1 day ago

Washington Post announces start of third newsroom

Washington Post executive editor Matt Murray sent out the following on Friday: Dear All, Over the last…

2 days ago

FT hires Moens to cover competition and tech in Brussels

The Financial Times has hired Barbara Moens to cover competition and tech in Brussels. She will start…

2 days ago

Deputy tech editor Haselton departs CNBC for The Verge

CNBC.com deputy technology editor Todd Haselton is leaving the news organization for a job at The Verge.…

2 days ago

“Power Lunch” co-anchor Tyler Mathisen is leaving CNBC

Note from CNBC Business News senior vice president Dan Colarusso: After more than 27 years…

2 days ago

Upset CoinDesk staffers send letter to owner

Members of the CoinDesk editorial team have sent a letter to the CEO of its…

2 days ago