Jim Cramer is a liar. A BOLD face liar. I have been a long time subscriber of his at Realmoney.com and he's finally lost it. He has ZERO credibility. He's a shill and a terrible stock picker and stock market forecaster. I'm continually amazed that his schtick has bought him so much credibility, during the worst time of his professional career.
This is what he posted today on his RealMoney site.
|I cant believe there are still clowns out there saying that i called multiple bottoms in housing. I have said very clearly that 2009 is the year when housing will bottom. I believe 2008 is when the housing STOCKS bottom. Big big difference. Believe me, i know this. I had to buy a house because my lease is up, i know it isn't a great time, Why the heck do these silly websites that abound say that i am right now calling for a bottom in housing when i have been far less than thrilled that i have to buy a house NOW? Liars.|
Jim Cramer is a bold faced LIAR. Beware if you follow his advice, you will lose money. He picks more bad stocks than good even when he's coming close to the S&P 500 when it's going up. He was touting Downey Savings and Loan, along with Thornburg Mortgage which is now $.36 a 99% drop. Jim is a Monday Morning QB who only beats his chest when he's right. And he makes so many predictions he's bound to be right some time. Now he's claiming Real Estate has more to fall and he's forecasting a drop in 2009. But this is what he said on Regis and Kelly just last month. Why would anyone listen to or like this guy?
So check out this transcript from the Regis and Kelly show from July 28, 2008. Not only is he wrong about Palm Springs, it hasn't dropped 66%, but if he's now forced to buy a house. Why was he screaming he's buying two houses a month ago? Was he forced to buy TWO houses and then feel so good about it? He's a clown and he will spiral down soon. His site is not as good as it once was.
July 28 ...
|Regis Philbin: These are tumultuous times|
Jim Cramer: I was incredibly negative a year ago. I came on July a year ago. I said don’t buy a house. Don’t buy stocks. I was very worried. I am now the exact opposite. Everyone else is worried.
I am feeling pretty darn good about things. Gasoline’s going down. It will be at $3.50 in 2 weeks. Your house price is stabilizing. Food’s coming down. I’m a buyer! I’m a buyer! I’m a buyer!
Regis Philbin: Is this the time to buy a house?
Jim Cramer: I want to buy not one house. I want to buy 2 houses. I wanna go…I’m going out to California in another month and a half. Prices were up very big there; looking at the Palm Springs area. Prices down 2/3rds. When are we gonna wait until we are down 100%?
Kelly Rippa: Isn’t it time for Regis to buy Joy that vacation home she’s dreamed of on the Florida beach? Isn’t it time for Regis?
Jim Cramer: Well, no. On the west side it’s already moved up. It’s too late. Can you believe it? East side, east side is there, 50% down. East side, I want you to go down with me and we go buy a couple. Go buy a couple!