While there was much hype in the days leading up to the show, the actual interview was pretty good. Jon Stewart vs Jim Cramer. Here is the link from The DailyShow for the entire episode.
Some talking points:
* Stewart's main point seems to be that while Cramer and CNBC claim to be looking out for investors, in actuality they are are nothing more than entertainment at best and accomplices at worst.
* It is interesting to see the discussion on Short Selling and the way that Cramer (and by inference other hedge fund managers) essentially lied to drive the price down. I would have to think the SEC might be interested in this.
* Stewart maintains that the financial media plays a role in governance. They dropped the ball.
* Cramer was good in admitting that success (year after year of 30% returns) changes our view and we forget that things go wrong.
* Line of the day from Stewart: "We are both snake oil salesmen, but I let people know I sell snake oil.:
* Line of the day from Cramer: "No one should be spared in this environment."
The whole interview (unedited) is also available. Here is the 3rd part:
2 comments:
A former comedian turned pseudo-journalist confronts the former broker/journalist turned clown. Pretty funny.
Brian Marchant-Calsyn
www.healthcareeragents.com
I have been a long time fan of Jim Cramer and his company TheStreet. Perhaps I am just too enthralled in his showmanship and entertainment.
However I unlike many have learned to not agree with 50% of what he is saying. Who says you have to agree with anything? It's the same for any Wall Street analyst. Many would equate any of these guys success on taking a gamble and luck, insider trading aside.
What I find most valuable about Cramer is he is very real and very personal. Yes he is loud and egotistical. But who is not? This is millionaire who still likes to bargain the cost of his groceries.
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