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Subject: Stewart vs Cramer rss

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John So-And-So
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Anyone just watch the Jim Cramer interview on the Daily Show? Damn! I love that every once in a while John Stewart gets a hair up his ass and turns into one of those old-style reporters. He totally nailed that son of a bitch! Reminded me of when he went on Crossfire and took it to Tucker Carlson.

Wouldn't it be dreamy if the real news guys took reporting as seriously as the fake news guy does?
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I thought Stewart pretty much nailed Cramer on everything. That 2006 video he was showing was unbelievable.

I watch Mad Money all the time, and the Jim Cramer on that show didn't show up to the Daily Show...

Did it seem as if Cramer was gonna cry?


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I can't wait to see it. Stewart's attack blew away the last scraps of repectabilty Crossfire had, and it was cancelled soon after he exposed them. He's smarter than 80% of the people in news, and that's a conservative estimate.
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I would so love Stewart to get Rush Limbaugh in his crosshairs.

John Stewart is a "fake" news guy, but has been doing more solid news than the real once for awhile, certainly since the kickoff of the Iraq War. If we have any heir apparent to Edward R Murrow now, it would be him.

And some of the guys over at NPR.
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Watch the full interview!

http://www.thedailyshow.com/full-episodes/index.jhtml?episod...

Jon simply DESTROYS Jim...
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Chad Ellis
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It was an amazing interview. I have to give Cramer credit for not crying; he got nailed so badly, especially early on when he would say that he was talking about something so people wouldn't do it and then there's the clip of him saying he's encouraging everyone (well, all hedge fund managers) to do it.

Stewart's description of the capital markets wasn't entirely correct but it was close enough and there were some important truths in there.
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Why do the two funniest people on television have to fight?
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If Actions Speak Louder Than Words, Then Actions x2 Speak Louder Than Actions
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Stewart didn't let his interviewee get out of his corner.
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Drew1365 wrote:
Can't stand Stewart or Cramer. Cramer is leaving the church, and the remaining congregants are just throwing catcalls as he heads for the door.

The revolution always eats its own.



You really are good at missing the point, Drew. Go with your strengths.
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Drew1365 wrote:
Can't stand Stewart or Cramer. Cramer is leaving the church, and the remaining congregants are just throwing catcalls as he heads for the door.

The revolution always eats its own.



This is the comment of someone who didn't watch the clip. As someone who has lost a TON of money I've saved for retirement, I'm wondering why Stewart is the only guy who is asking this stuff.
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What seemed disappointing to me was how Stewart claimed that the way to get wealth was through work. Does he think we live in Marx's utopia? It's a scary myth, that keeps people unaware of the power of wealth.

Sure, investing without making any real decisions should not net nearly as much money as being involved in the management of your own money. However, it has provided returns throughout history. In a way, long term investing is like renting real estate. Nobody will deny that renting your property can be profitable, it's just that you always risk having tenant that thrashes your house and salts your farmland. Relatively steady returns, until the time where the outlier event comes, and the owner loses 10 years worth of profits.

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Isaac Citrom
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Responsibility aside for a moment, in the same basic way that I have pity for a trapped animal, I just felt so bad for Cramer.
.
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Who are these Stewart and Cramer people you guys are clucking about? Is this another one of those Pro Wrestling things? Or a Monster Truck event, or what?
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Chad Ellis
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hibikir wrote:
Sure, investing without making any real decisions should not net nearly as much money as being involved in the management of your own money.


I strongly disagree. For most people -- including for most professional money managers -- the best investment strategy has been 'buy and hold' with index funds. Actively invested funds have generally underperformed the index and this is likely to remain true indefinitely.

At the risk of nepotism, I encourage anyone interested to read the excellent book, Winning the Loser's Game by Charles D. Ellis.

I agree with you that this is one of the areas that Stewart didn't have exactly right.
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hibikir wrote:
What seemed disappointing to me was how Stewart claimed that the way to get wealth was through work. Does he think we live in Marx's utopia? It's a scary myth, that keeps people unaware of the power of wealth.

Sure, investing without making any real decisions should not net nearly as much money as being involved in the management of your own money. However, it has provided returns throughout history. In a way, long term investing is like renting real estate. Nobody will deny that renting your property can be profitable, it's just that you always risk having tenant that thrashes your house and salts your farmland. Relatively steady returns, until the time where the outlier event comes, and the owner loses 10 years worth of profits.



Yes, though I've never been a fan of Cramer's antics on Mad Money, or his willingness to share highly specific financial advice with a mass market thereby instantly diluting its value, I am equally not a fan of holier-than-thou attacks from comedy news shows. Jon Stewart is a very intelligent guy, but he misspoke on a few occasions during that clip, and the mystery to me is why Cramer was so cowed and or ashamed that he was unable to contend the points.

Just as The Daily Show is taking CNBC to task for not being a more credible source of financial reporting and information, I find myself chiding Comedy Central for straying just a little too far outside of the realm of humor with this interview.
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Trey Stone
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Buy n' hold, in the long term, it always works. It just sucks when a major dip comes JUST when you are about to retire.
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Shushnik wrote:
Cramer has always driven me nuts. His abrasive arrogance just makes me want to smack him. This guy who apologizes, rationalizes, and takes some blame is new to me. Who's he got working his makeup? He really does look a lot like Jim Cramer.

It was brave of Stewart to actually say what we're all feeling. I've wondered often, here and elsewhere, why financial experts couldn't have seen this coming. I'm glad to see someone publicly and loudly voice my frustration.


Peter Schiff was warning about it as well as the Austrians.

Here's one example written back in 2003.

http://mises.org/story/1250

"To conclude then, it is quite likely that businesses' ability to generate real wealth has been severely impaired. This in turn precludes the possibility of a sustained economic recovery and thus the emergence of a durable up-trend in stock price indices i.e. new bull market. An expected loosening in the monetary policy of the Fed is likely to further aggravate the state of the real economy and the stock market."

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tstone wrote:
Buy n' hold, in the long term, it always works. It just sucks when a major dip comes JUST when you are about to retire.


The key concept missing there is "with diversification." If the only thing you ever bought and held were shares of CC, for example, you'd be really sad right about now.
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MisterCranky wrote:
tstone wrote:
Buy n' hold, in the long term, it always works. It just sucks when a major dip comes JUST when you are about to retire.


The key concept missing there is "with diversification." If the only thing you ever bought and held were shares of CC, for example, you'd be really sad right about now.


Absolutely true.

By CC, I assume you are referring to Clear Channel? Oh, that dog has ALL KINDS of issues, and as a radio professional, I'm glad to see it going down in flames. If Enron didn't exist, I'd say it couldnt' happen to a more deserving company.
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MisterCranky wrote:
Just as The Daily Show is taking CNBC to task for not being a more credible source of financial reporting and information, I find myself chiding Comedy Central for straying just a little too far outside of the realm of humor with this interview.


I disagree. I think Jon has a track record of speaking his mind and he has a good one at that. His audience has always appreciated his candor and wit, more than his fart jokes. The start of this squabble was classic Daily Show:

http://www.thedailyshow.com/video/index.jhtml?videoId=220252...

and NBC as a whole decided to call Jon out over the following few days. I don't think they appreciate the fact that he is legitimately upset and willing to fight for the little guy. He's no prophet or politician but I'd call him a pundit with a great sense of humor. Not just a comedian who makes silly faces at famous people falling down stairs.
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eknauer wrote:


Peter Schiff was warning about it as well as the Austrians.

Here's one example written back in 2003.

http://mises.org/story/1250

"To conclude then, it is quite likely that businesses' ability to generate real wealth has been severely impaired. This in turn precludes the possibility of a sustained economic recovery and thus the emergence of a durable up-trend in stock price indices i.e. new bull market. An expected loosening in the monetary policy of the Fed is likely to further aggravate the state of the real economy and the stock market."



That article would seem really prescient, if not for the (essentially) sustained growth during the five years after its publication. I attribute the spuriousness of the article to its reliance upon the Austrian Money Supply formula. But then, I attribute everything's spuriousness to AMS.
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Shushnik wrote:
tstone wrote:
MisterCranky wrote:
tstone wrote:
Buy n' hold, in the long term, it always works. It just sucks when a major dip comes JUST when you are about to retire.


The key concept missing there is "with diversification." If the only thing you ever bought and held were shares of CC, for example, you'd be really sad right about now.


Absolutely true.

By CC, I assume you are referring to Clear Channel? Oh, that dog has ALL KINDS of issues, and as a radio professional, I'm glad to see it going down in flames. If Enron didn't exist, I'd say it couldnt' happen to a more deserving company.


First you're in the military, now you're a radio professional. When do you sleep?


cool

Sleep's for the weak.



Seriously, it's a long convoluted journey, but it's like this. I originally joined the Army in the late 80s as a Field Artilleryman with the 7th Infantry Division. Got out, went to school, got into radio. Found out I enjoyed it and was good at it. However, the Telecom Act of 96 was passed, which was the beginning of thing getting screwed up in radio, and became the canary in the coalmine for everything else we are dealing with now.

In 2001, I had a choice. Continue with the increasingly precarious looking civilian radio world or find another route. I chose one. I returned to the Army.

As a Broadcaster. Its' called a 46R (Broadcast Journalist).

Because of my experience and my chops, I tend to get mostly radio gigs, though soldiers in my field are also trained in TV broadcasting.

Just finishing up a tour with American Forces Networks in Europe because the Department of the Army believes I would be a peachy Drill Sergeant for a couple years.

It'll give me fuel for my art, that's for sure.

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shumby wrote:
MisterCranky wrote:
Just as The Daily Show is taking CNBC to task for not being a more credible source of financial reporting and information, I find myself chiding Comedy Central for straying just a little too far outside of the realm of humor with this interview.


I disagree. I think Jon has a track record of speaking his mind and he has a good one at that. His audience has always appreciated his candor and wit, more than his fart jokes. The start of this squabble was classic Daily Show:

http://www.thedailyshow.com/video/index.jhtml?videoId=220252...

and NBC as a whole decided to call Jon out over the following few days. I don't think they appreciate the fact that he is legitimately upset and willing to fight for the little guy. He's no prophet or politician but I'd call him a pundit with a great sense of humor. Not just a comedian who makes silly faces at famous people falling down stairs.


All due respect, but I referred specifically to this interview. (So, in other words, no respect whatsoever.) Nobody around here likes Jon Stewart any more than I do, but if you're going to chastize another network for failing to live up to some imaginary mandate, then you should get to see the same thing in the other direction.

This interview may have been a delight to watch, and a feel good experience for "the little guy" (and honestly, blaming Jim Cramer and CNBC for the dissipation of the little guys' 401K and pension fund checks is disingenuous and stupid), but it wasn't comedy, it wasn't (sufficiently) funny, and it wasn't especially fair.
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tstone wrote:

Absolutely true.

By CC, I assume you are referring to Clear Channel? Oh, that dog has ALL KINDS of issues, and as a radio professional, I'm glad to see it going down in flames. If Enron didn't exist, I'd say it couldnt' happen to a more deserving company.


Sorry, some confusion there, my fault: Circuit City. CC is their stock symbol. CCU is Clear Channel's ticker.
 
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MisterCranky wrote:
All due respect, but I referred specifically to this interview. (So, in other words, no respect whatsoever.) Nobody around here likes Jon Stewart any more than I do, but if you're going to chastize another network for failing to live up to some imaginary mandate, then you should get to see the same thing in the other direction.

This interview may have been a delight to watch, and a feel good experience for "the little guy" (and honestly, blaming Jim Cramer and CNBC for the dissipation of the little guys' 401K and pension fund checks is disingenuous and stupid), but it wasn't comedy, it wasn't (sufficiently) funny, and it wasn't especially fair.


Respect or not... I think you're missing the point.

There's a big difference between asking Comedy Central to be funny at all times and a financial channel like CNBC to report on financial news with some integrity and GOD FORBID some caution. They don't tout themselves as an entertainment network but more of a guiding business partner. Like Jon said... it's not a f***ing game.

Jon didn't blame Jim Cramer or CNBC for the whole scenario, though at times I'll admit some of the emotion from Jon led me to believe that he's would like to, but rather pointing out they're not HELPING average Americans like their own ads claim to. Asking regular people to listen to their BS long-shot advice and then turning around while we're bailing out Wallstreet with our hard-earned money and calling us LOSERS that stupidly gambled our money away is the point and what started the whole situation.

It was funny when Jon called them out on 3/4. It was funny when CNBC mised the point and called Jon a goofy know-nothing and it was REALLY FUNNY when Jim Cramer agreed to go on the show. If Jon didn't do exactly what he did last night I'm sure his fans would have been disappointed. I know I would have been.
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