20 March 2008

A pompous blowhard gets his comeuppance


Those who watch financial news on cable television have undoubtedly encountered Jim Cramer, who is one of the most outspoken egotistical know-it-alls in a profession full of such characters. In this video segment from February 22 he answers a viewer's questions re whether Bear Stearns is a safe investment. Note that at that time BSC had fallen from $150/share to $62/share. Note his vehement advice - and note that the stock is now being taken over by Morgan Stanley at $4/share. Credit to A Welsh View for posting this - and for noting that Cramer was right about the stock getting taken over...

This segment is worth remembering anytime you hear anyone offering you financial/investing advice (which I will probably be doing in a day or two)....

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