Jim Cramer loves to share his wisdom. And sometimes his big mouth can really get tongues a waggin’
Cramer Reveals a Bit Too Much
by Roddy Boyd The host of CNBC’s daily program “Mad Money” had hedge fund-trading desks buzzing yesterday after he bragged about manipulating stock prices during his days as a trader.
In the video from TheStreet.com’s “Wall Street Confidential” Webcast, Cramer boasts about manipulating the price of a high-flying stock down, and even acknowledges that doing so might have been illegal. The video is making the rounds on YouTube.
"A lot of times when I was short, I would create a level of activity beforehand that would drive the futures. . . . It's a fun game," Cramer said in the Webcast, which was moderated by TheStreet.com Executive Editor Aaron Task.
Cramer later said that "no one else in the world would ever admit that, but I don't care."
NY Post
Calling regulators rubes and financial reporters morons is sure to cause a dustup...maybe Jim should stay in Texas till this one blows over.
On a related note, his $50,000 bet with Eric Bolling is looking a little dicey as we end the first quarter.
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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.1/12/07
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Jim's call to buy the Financials in early January is a bust for now, while Bolling's commodity picks are ripping higher.
It looks like Fast Money over Mad for now...
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