Cramer’s Charity Bet Bloodbath

by StockJockey

Friday, January 11, 2008 - 3:55 pm

The infamous charity bet made a little over a year ago is back in the news. It is time for Cramer to cough it up....

Over the last few weeks, TVNewser has received many anonymous tips regarding a bet made by Jim Cramer and Eric Bolling on CNBC last January.

The parameters involved which sector chosen by Cramer and Bolling would "outshine" the other in 2007. The loser would donate $50,000 to the winner's charity of choice. Cramer picked the financial sector and Bolling took the oil and gold sectors.

An interview on 1440wallstreet.com from January 12, 2007 confirmed the bet was legitimate: "The charity bet is on!! I like Jim, but don't come into my house and try to drink my wine! Not without a fight," said Bolling. TV Newser

What is amazing about the bet is that Cramer picked the worst sector and Bolling picked two of the best. Cramer made some good calls last year, and nailed the fourth quarter, but this bet was not his finest hour. The mid-year lead, which put Cramer down slightly and Bolling up 22%, widened as the rout commenced following the implosion of the Bear Stearns hedge funds.

It might not be enough to put Cramer in the poor house, but he might have to cut back on his personal trainer and the cheap scotch he drinks on his linoleum floor.

Video and Bet after the jump

Wednesday night (1/10/07) on Fast Money you challenged Cramer to a little wager...there will be no loser in this trade with $50,000 going to the charity of the winner’s choice. Was it a joke or is the bet really on?

The charity bet is on!! I like Jim, but don’t come into my house and try to drink my wine! Not without a fight.

There are no free passes on Fast Money. 1440 Wall Street

Jim Cramer Owes Eric Bolling $50,000
TV Newser

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