Friday, May 13, 2011


Okay, I'm sitting here at breakfast scanning my fave financial blogger, Barry Ritholtz, when I find him doing a shout-out for (coffee-nose moment) – Jim Cramer?

Wha? Say again? Ther noise machine? The pompous, petulant little narcissist who leaves you pining for Glen Beck? Jim Cramer?

Well, let me put that in perspective. When I say “pompous, petulant little narcissist,” I don't mean to suggest that I ever actually watched Jim Cramer—not, that is, for more time than it took to pick up a brick and throw it at the screen. But isn't that enough to understand just how foul and pestiferous little incubus he is?

Evidently not. Ritholtz says:

He is the guy who first conceived of Democratizing financial research and reportage. Whatever money he made for clients as a hedge fund manager is far outweighed by his contribution to you, the modern investor.
No kidding? I mean—I don't particularly mind the hedge fund money per se; if I wasted my time on that sort of thing, I wouldn't have any hours left in my day. But if we're truly going to protect ourselves against the crimes of the plutocracy, we're going to have to submit ourselves to the ministrations of... Jim Cramer?'

But isn't that why I cancelled cable?

God help us.

1 comment:

Ken Houghton said...

Barry R. leaves it as an exercise to the reader whether the Cramerian "democratisation" of financial news is a good thing.

As Krugman noted several years ago, the proliferation of lunch places outside the Financial Districts that tuned to CNBC and the like was a good indicator of how frothy bubblicious the stock market has become by the late 1990s.