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Comment by mike_d | Hacker News Reader

This is all you needed to know to short SVB a month ago: https://twitter.com/WatcherGuru/status/1634246217226919937

At this point, I'd believe the conspiracy theory that Cramer saying something public is a secret signal to those in the know.

https://twitter.com/jimcramer/status/1634222320398086145

Hopefully it's not too omnious

Thanks, I will short JP Morgan ASAP.

I don’t think what you should take from this is “always do the opposite of what Cramer says”. Rather that you should not consult him at all when you’re deciding how to invest your money.

See also, this amazing gem from the FT last year[0]:

> In a previous Alphaville post we may have implied that Jim Cramer’s peak-inflation call was a reverse indicator for our readers. We regret the error. It was not our intention to give Cramer’s opinions any credence whatsoever.

[0] https://www.ft.com/content/3d1601e0-62b5-4cd5-b298-67f6f1f43...

I am not from US, what is the story? Does that guy consistently make bad predictions?

I don’t know if he consistently made bad predictions, but he had a few howlers during the 2008 global financial crisis. He very loudly declared on his TV show that Bear Sterns was safe on the eve of its collapse: https://youtu.be/V9EbPxTm5_s

Don’t forget about all the accolades he left on Facebook stock before it had its massive crash.

Oh yeah there's definitely plenty more than I mentioned. But I just wanted to highlight that his reputation as this sort of accidental Grim Reaper of companies originated in the GFC back in 07/08

A couple days ago he told his audience to sell Bitcoin for USDC, a day later USDC had a -15% depeg event. Yes, he is a comically bad signal.

Heh, ok so he's still got the midas touch then :) I hadn't really seen anything of him recently but I figured in a "stopped clock is right twice a day" way he can't possibly always be wrong, but maybe I gave him too much credit

It's something of a meme to say talk about shorting what he recommends his viewers buy. Sometimes people will come up with data showing that if you did that over such-and-such a period you'd be up like 50%, but I don't think that's necessarily worse than anyone would do if they had to pick stocks on national TV every day.

The background on Jim Cramer is less about his accuracy and more about his tv show. He has this show where he just goes off on what to buy and what to sell, on a major news network, from before YouTube, and it's enthralling. If we were to do a montage scene of America and capitalism, he'd be in it, yelling BUY! SELL! BUY!

it's just so over the top! if you haven't seen it before here's a recent one https://youtu.be/RKG0Qh51Vq0

That was significantly more idiotic than I expected. God bless America.

It's not about his predictions, but his admitted market manipulation. I don't know how "in the know" he is now, but all you need to know about his motivations is encapsulated in the first minute of this interview: https://www.youtube.com/watch?v=8DJlogbrDcA.

He's a market manipulator, or was when he was in that hedge fund, and there's every reason to believe that he still would do this now for his own personal benefit if he could. Basically, if he's promoting a position it's probably a really good idea to strongly consider taking the opposite one, or just ignoring it (which is likely the better idea).

60% of the time his predictions work out every time

I only know Cramer from the fun and others meme is been the originator. But that statistics should be taken with caution. Being long equity since 2008 was not really a proof of creating a alpha ( aka adding superior return than the market). That's the long term low interest rates environment that incentivize W Buffet to make his famous 10 years long sp500 won't be beaten by any HF.

They was referencing this scene from Anchorman: https://youtu.be/IKiSPUc2Jck?t=37

https://nypost.com/2023/03/03/inverse-cramer-etf-lets-invest...

The fact multiple ETFs like this exist should tell you all you need to know.

I remember how Jon Stewart on the Daily show made fun of him about getting predictions for Bear Sterns wrong and got under his skin when the financial crisis of 2008 was afoot.

He did take it very well IIRC and put his game face on

https://www.marketwatch.com/investing/fund/sjim

Literally cannot go tits up.

Always Inverse Cramer

https://www.getquantbase.com/partners/inverse_cramer

"14.39% return"

This is hilarious and extremely sad at the same time.

But what do you when Cramer suggests buying the Inverse Cramer ETF?

I guess GTFO

Right, when you get out before the Inverse Cramer ETF gets to short itself, no? After that it should be priced in.

I guess the financial sector understands recursion, with all the intellectual prowess it employs?

A black hole materializes if that happens.

That's where fractal Fibonacci retracements come into play. :D ;)

Sarcasm if it wasn't clear

this guy is not comprehensible. i do know who he is, but wow... how times have caught up to, maybe both of us i guess.

my brain can't even focus on that. from the drunk guy running the camera on an unbalanced gimbal, to the extreme wide angle lens that makes me think the producer of the show used to make music videos for MTV, to any of the other whacked out things that goes along with the guy that can't even utter a sentence without tripping over his own words before he barely takes half a breath. (this sentence was written in a toned down style of the host's on the show)

My thoughts exactly. He needs to train on his enunciation.

On another note: The administrative officer of SVB is ex-CFO of Lehman Brothers.

https://www.svbsecurities.com/team/joseph-gentile/

There is also an inverse Cramer tracker to bet against King Mierdas: https://nypost.com/2023/03/03/inverse-cramer-etf-lets-invest...

if it were only that easy. shorting everything cramer says to buy wouldn't get you far

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