Friday, March 13, 2009
How much money would taking Jim Cramer’s advice have cost you?
By now I am sure you have seen Jon Stewart eviscerate Jim Cramer on last night’s Daily Show. If not, all 23 excruciating minutes are available at thedailyshow.com. In one of the highlights (lowlights) Stewart shows clips of Cramer in 2006 explaining how he would manipulate the price of Apple stock by “fomenting.” Fomenting, according to Cramer, is when a trader puts out false information or rumors about a company in order to change its price one way or another. If you have a “short position” on a stock, you will make money if the price goes down. Thus you would want to foment bad news (in the clip Cramer says he would tell people that there were problems with the upcoming iPhone)...
Econ4U: How much money would taking Jim Cramer’s advice have cost you?
Econ4U: How much money would taking Jim Cramer’s advice have cost you?
Permalink posted by markw @ 11:47 AM 
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