Best Financial Markets Analysis Article Jim Cramer of CNBC's "Mad Money" is apparently at it again, rewriting history as the video prepared by Don Harrold illustrates that Jim Cramer is now starting to perpetuate a myth that he called the Stock Market bottom at Dow 6,500 after the earlier myth of telling investors to sell at Dow 11,000.

Jim Cramer - 1st June 2009 - "Time to buy at Dow 6,500".

Watch what Jim Cramer actually said at Dow 6,500 on 6th and 9th of March 2009, and you will find bearish commentary and even a forecast that the Dow could go below 5320.

History of Jim Cramer Wrong Market Calls

He Has No Idea, NO IDEA, of how Bad his Market Calls are" - Continuing on from ( Why Watching CNBC Could Destroy Your Portfolio) in the deconstruction of CNBC talking bobble heads repeatedly bullish market calls whilst the stocks bear market continued to rage, that continued to destroy the value of CNBC viewers portfolios. This article focus's CNBC's chief stock picking guru, Jim Cramer's market calls against actual outcomes which will hopefully prevent the further destruction of portfolio values.

11th March 2008 - Bear Stearns is fine, do not take your money out, BEAR STERNS is fine, Do not move your money out of Bear Stearns, Don't be Silly (ALL with the backdrop of the Bear Stearns Stock price)

6 Days Later - Bear Stearns Loses 90% of its value, and Jim Cramer attempts to revise history about what he implied on the 11th, but the video does NOT lie. HIS STOCK PICKING CNBC SHOW, WHILST REFERRING TO THE BEAR STEARN'S STOCK PRICE TOLD INVESTORS TO STAY PUT!

13th June 2008 - Jim Cramer's bull market buy calls - Says buy Banks, Buy Brokers, Wells Fargo, JP Morgan and tech stocks, and home builders, retailers.

Says NOT to buy oil and gas.

20th June 2008 - Jim revises history, he says - If you own banks and retailers then you are like the golam, not listening to him. He says if you own banks, home builders and retailers then you will be in pain, despite the fact that he specifically recommended buying bank stocks and retailers a week earlier.

Now he says the most important sector he recommends that you should have bought is oil and natural gas, whilst forgetting that the previous week he said NOT to buy them !

Jim Cramer Keeps Calling the Bear Market Bottom Again and Again and Again.

Jim's Bad Call - Housing Stocks Bottom called 2006

Jim's Bad Call - Fantastic U.S. Economy During 2008 - Feb 2007

Jim's Bad Call - Buy the Dow at 14,000 Bull Market Calls - November 2007

Jim's Bad Call - Buy Retail Stocks - November 2007

Jim's Bad Call - Buy the Bank Stocks - Feb 2008

Jim's Bad Call - Dow 13,800 - Buy the stock market again

Jim's Bad Call - Dow 12,300 - Dow Falls but Cramer says Buy, Buy, Buy ! Expects a HUGE rally

Jon Stewart Wipes the Smile off Cramer's Face

Jon Stewart recently joined in, in attempting to hold Jim Cramer and CNBC to account for what passes for financial journalism that has led the millions of investors who watch CNBC into near total portfolio wipeout.

In closing, I refer back to one of Jim Cramer's infamous rants - "He has No idea, NO IDEA how bad his market calls are, NO IDEA, CNBC Viewers should cut the volume, CUT the Volume, CUT THE VOLUME, before their Portfolio hits ZERO".

By Nadeem Walayat
http://www.marketoracle.co.uk

Nadeem Walayat has over 20 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis specialises on the housing market and interest rates. Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication. We present in-depth analysis from over 250 experienced analysts on a range of views of the probable direction of the financial markets. Thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

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Comments

Deet 03 Jun 09, 00:55	Cramer Cramer doesn't say he called the bottom ON HIS SHOW, he says he told a woman in a bagel shop, some guy at a gas station, and some guy parking his car that it was the bottom! Now to refute him, you need to find these people!
Josh 03 Jun 09, 03:50	Jim Cramer Jim Cramer is an idiot, anyone who listens to his advice deserves to lose everything!
Peter Finch 03 Jun 09, 20:04	Jim Cramer Please leave Jim Cramer alone. By highlighting his egregious nature and calls you are in danger of destroying one of THE BEST contrary indicators we have. Just do the exact opposite of what Jim or the MSM says and you will make money. So please, go pick on someone else and leave Jim alone. His calls are the best warning signs a trader can get. As to the public, they are sheep and won't listen to you anyway.
anti-demagogue 14 Jun 09, 12:39	Don Harrold Don Harrold is no different than Jim Cramer, he's just on opposite sides of the radical spectrum. Both of them missed greatly the turn up on March 9 and the subsequent "bear market rally" that followed up until this very day. The only difference between Jim Cramer and Don is that Jim Cramer will at least listen to his critics, Don will just chastise and ban them like all good dictators do. People in Communist China can speak more freely than Dons customers. Don makes his money through XXXXXXXXXXXXXXXXXXXXXXXXX (www.doublingstocks.com, just google it and see what comes up) and pyramid style XXXXXXX XXXXX. Don is not your friend. If you're thinking of joining him, you're better off going to the tunnel at 42nd street and 8th avenue and manhattan and paying people to scream in your face, you'll lose less money and at least you'll know what you're in for.

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