Free Advice is Worth the Price You Pay
-Anonymous
March 11th Conversation from Cramer’s TV show
Caller: “Should I be worried about Bear Stearns in terms of liquidity and get my money out of there?”
Cramer: “No, no, no! Bear Stearns is fine! Do not take your money out. If there’s one takeaway… Bear Stearns is not in trouble. If anything, they’re more likely to be taken over. Don’t move your money from Bear! That’s just being silly.”
Jim Cramer is a TV personality who runs a show on CNBC called Mad Money. It consists of viewers phoning in and asking his opinion about stocks and business sectors. Jim literally yells his options out, is very animated, and uses sound effects and graphics to get his point across. I have never been a fan of his show, but this investment strategy is “silly”. Bear Stearns value on:
March 11, 2008: $62.97
March 17, 2008: $ 4.81
93% Drop in value, thanks Jim!
