Friedman says he has no grudge against Friedman, and that CNBC probably hates him complaining, but the time has come to speak out. Cramer was once a distraction from the typical business journalism seen on TV, but now, wrote, Friedman, Cramer “has become a caricature of himself. I hope he changes my mind soon, but I won’t hold my breath.”
Friedman wrote, “I caught his act — and that’s exactly what his daily program ‘Mad Money’ has degenerated into — the other day. He was in the midst of a rant against the new Fed Chairman Ben Bernanke.
“Within seconds, Cramer was carrying on to the point where an uninitiated viewer might fear that he would have a heart attack on camera. But experienced Cramer-watchers know this is simply cornball Jim doing his thing.
“What I found disconcerting was when Cramer pulled out a box of Uncle Ben’s rice and made a mockery of the Fed — which, natch, was the whole idea. Still, this prop seemed to be way over the line.”
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While Cramer is a bozo he is no fool. I can’t testify to his wealth, but like most people who run hedge funds on Wall Street, he isn’t crying on the way to the bank. Nevertheless, taking his advice literally can be dangerous. Just last week he told a viewer to get out of Joy Manufacturing and later advised listeners to “buy buy buy� Qualcom. Had one listened to his advice and acted on it the results were disasterous. Joy was up over 3 the following day, and yesterday QCOM was down over 2. I think he invites obnoxious people to lose their money, and as long as it isn’t mine I don’t care.
Cramer's antics are just plain obnoxious; one learns nothing and he says it's invesment "coaching" it is just buffoon-making. Please,
CNBC get a better program; I don't get FBN on my cable carrier, or I would have moved along; at least Kuclow, as bad as he is on market opinion, he's listenable.