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Posted by on Aug 11, 2010 in Markets, TG Roundup

Jim Cramer at it Again: Yesterday, He Said “Buy”, and the Market Down 260 today

Long before Before Jim Cramer became a TV icon, he used to participate on Silicon Investor bulletin board. Circa 1998-2000 I had a few nasty exchanges with him. I once told him (paraphrasing), “Jim, when history is written about the Go-Go 90s,  you will go down in the books a icon of the cheer leading culture that led millions of investors to losing their life savings. And, you can quote me on that.”

He shot back at me and said, “What’s the matter Mohan? If you feel so down, go kick your dog or something.” That was the last exchange I had with him. He later became an even more hyper nut and caused a lot of damage to a lot of portfolios. Off late, this bozo lost almost all the credibility – especially after Jon Stewart obliterated Jim’s hyperbole on the Daily Show in March of 2009. But for the couple of newbies out there, my warning is: caveat emptor.

Yesterday Jim said, “The Fed said good things. Buy.” If that wasn’t your sell signal, what is? The market is down 262 points – how do you feel, now, punk?

Listen to the disclaimer at the end of the video! UFB. Why CNBC is even keep putting this nutcase on air?