The St. Paddy’s Day Pesky Prize goes to “Mad Money” host Jim Cramer. As some of you know, a share of Bear Stearns stock, which was trading at more than $170 a year ago and $60 a few days ago, on Monday wasn’t worth enough to buy you a green beer at a Wall Street pub. Cramer, who brings to his show the quiet professionalism of Vince McMahon and soft-spoken demeanor of a recently debrided burn victim, answered an email from one of his viewers who can write on March 11th. The viewer wondered if “he should take his money out” of Bear Stearns.
Responded Cramer: “No No No Bear Stearns is fine. Do not take your money out….don’t move your money from Bear…that’s just silly. That would just be silly.”
Catch Jon Stewart’s take on Cramer on Monday’s The Daily Show (show #13026),. It’s about about five minutes into the first item.
YouTube has the Cramer excerpt and his response on another CNBC show.
I don’t speak Finance, and if you don’t either you’ll need a translator to understand his explanation. However, I do speak fluent Gobbledegook, and I believe he said his earlier advice was correct, everybody did fine, and/or if you take him seriously, you deserve to go broke.
Meanwhile, Stewart recommends you catch Cramer’s new program: “No Matter How Good I Am at This Over the Next 10 Years I Will Never Make Up the Amount of Money I Blew For People Last Tuesday”