…or at least a comparable network to give bad advice so all the professional traders can profit from them by fading their recommendations. Let’s face it, I never watch the show and rip on it all the time, however I was thinking to myself what would fill the void if CNBC just stopped airing tomorrow. Yes they are guilty of giving bad stock picks and horrible market timing guidance, however we are all adults here and anybody blindly following another’s stock tip without due diligence is asking for it. A CNBC implosion would unleash millions of untrained, amateur traders into the blogosphere, where they would all go their separate ways never to be seen again in mass jubilance or fear at extreme market inflection points. Then where would I get one of my most reliable indicators from?
Since Cramer’s outing by John Stewart I’m beginning to think Cramer may be one of the fall guys during this market meltdown. I can almost hear the faint rumblings of the mob calling for his head. The ironic part of this Cramer vs Stewart match is that Cramer secretly wants John’s job, as he joked that Steward is a “comedian” and that his job is easy. Cramer obviously wants to be the entertainer with all his bells, whistles and gadgets, as he most likely resembles a joker and not some Wall St. analyst, qualified to give investment advice. I really think Cramer is an intelligent individual who let his Ego start running the show years ago once he started getting some fame from his books.
Here is a excerpt from Eckart Tolle’s book “A New Earth” that resonates with thiswhole situation.
…many normal people tell certain kinds of lies from time to time in order to appear more important, more special, and to enhance their image in the mind of others: who they know, what their achievements, abilities, and possessions are, and whatever else the ego uses to identify with. Some people, driven by the ego’s feeling of insufficiency and its need to have or be “more,” lie habitually and compulsively. Most of what they tell you about themselves, their story, is a complete fantasy, a fictitious edifice the ego has designed for itself to feel bigger, more special. Their grandiose and inflated self-image can sometimes fool others, but usually not for long. It is then quickly recognized by most people as a complete fiction.
It really feels like Cramer’s being called out here by many people and I just can’t see how CNBC can keep him on the show risky such negative criticism. The only way I can see him keeping his job is if we start a new bull market right now as a rising market gives people short memories and makes everything better. The chances of that happening in my opinion are slim to none as I don’t think we’re going to get off the hook this easily. When and if this market begins it’s next leg down, things could get ugly and the network may just hang Cramer out to dry in an attempt to please the mob and claim they’re taking their show in a “new direction”.