Cramer knows the game very well. He just plays idiot for the camera. Cramer rarely spits out the cold hard truth for the public, how down and dirty this game can truly be . His producer ain’t gonna approve that shit lol…
That’s how almost all media financial figures are. They have a target audience to twist and manipulate. That’s their goal. I don’t believe Cramer is an idiot at all - behind the scenes and when the camera is off.
He’s an OG. He didn’t build a net worth north of 100m by being an idiot. He didn’t graduate Harvard and run his own hedge fund and work at Goldman for a time by being an idiot…he is legit.
Of course he is rarely right as you suggest, that’s his goal lol. For the public to see him as that. And it’s clearly been working for years and years.
Something a lot of people don’t realize is Cramer’s fund blew it out of the water too. He had something like only two down quarters and absolutely destroyed the S&P. And he did it mostly by understanding all of the shady shit happening on Wall Street in the 90s. Replicating his strategy today would almost certainly be insider trading but the specific methods he used were not really illegal at that point(tips on analyst reports and what not.
Cramer was actually doing what a lot of people thought Madoff was doing.
He was pretty open that he got out of the game because he had a near mental breakdown from stress. Honestly he could have retired but CNBC offered him a shit ton of money to effectively just sit there and bullshit about the markets for a few mil a year. I mean that’s not a bad way to spend your days.
Cramer knows the game very well. He just plays idiot for the camera.
It’s worth pointing out to people that Cramer is really self aware and open about his antics:
On the show, I say stupid things, yell “Booyah” with alarming frequency, and occasionally wear a diaper or jump into a pile of lettuce to illustrate the finer points of investing. God knows why, but there seems to be a market for this kind of idiocy. In that first year, the ratings took off; the network put the show in not one, not two, but three time slots; I made the cover of Business Week; and less than a year later, I was improbably filling college halls with cheering student fans
This is a piece worth reading for people that want to understand Cramer’s motivations for the show. I wouldn’t follow his picks and I don’t care for the show but I do think he adds a ton of value in that he captures an audience looking to be told what to do and points them in a mostly acceptable direction.