Article: In Cramer We Trust

Article - Media, Publications

In Cramer We Trust

HARRISON R. T. WARD,  24 March 2021

Without trust, markets break down. The U.S. dollar is a fiat currency, which means that its value is derived from the trust we ascribe to our government; as that trust wanes, Americans turn away from traditional financial institutions. During the 2008 financial crisis, many everyday Americans, unsure of who to trust, took their money out of banks en masse. Large commercial banks began to fail; by 2012, almost 450 banks had collapsed. Today, deep into a historic pandemic and recession marked by political division, Americans’ trust is waning again.

On Jan. 27, a group of amateur traders helped push the stock of struggling video game retailer Gamestop to a price of $347 per share. Alarmed, financial experts took to the air to warn against what Alan Greenspan, former chair of the Federal Reserve, calls “irrational exuberance” — an unreasonable, optimistic view that the market will keep rising. Jim J. Cramer ’77, host of CNBC’s finance show “Mad Money,” was of those exasperated experts — “People begin to think, ‘Are prices real?’” he exclaimed on the air. Continue reading “Article: In Cramer We Trust”

Article: The Jim Cramer Indictment: Five More Counts

Article - Media, Publications

The Jim Cramer Indictment: Five More Counts

Jim Cramer knows how easy CNBC is to fool. He used to play the network himself. Here are five episodes from the stock speculator’s past that could use some dusting off.

Cramer avoided any career-ending gaffes on the Daily Show last night — like say, “when a performing monkey pundit does it that means that it is not illegal!”

Read Full Article