Jim Cramer 2006 interview, details his hedge fund fraudulent behavior

[cabronjames]

I stumbled across this Jim Cramer 2006 interview http://www.thestreet.com/video/index.ht ... 3_10329438

Cramer admits to his past fraudulent behavior when running his hedge fund.  An example is he would lie, make a fake negative rumor on a company he was short, & spread this lie to enough contacts in the financial media & at big brokerages.

Why didn't the SEC lock this guy up?

Another example on how in the US, small time retail thiefs get felonies & prison time; large scale white collar thief like Cramer are not even charged with a crime.

Cramer refers to investors in the company Research in Motion as "moron longs".  Wouldn't this cohort include retail Avg Joe investors, that Cramer puports to "educate" on Cramer's lame "Mad Money" CNBC show?

What a douche!

I'm glad I was not a "moron" enough to judge that the words of true wise earnest experts like Harry Browne & John Bogle was worthwhile & educational, & that the words of a fraud like Cramer were pure garbage.

[Tortoise]

This is why I have learned never to act on anyone's investment advice based on their reputation or track record alone. I must first understand the logical reasoning behind their advice. Reputations and track records can be faked. Logic cannot.

I wasn't converted to the PP based on Harry Browne's reputation or track record. His logical explanation of the four economic environments and how the four PP assets relate to them is what did it for me.

[AdamA]

Cramer admits to his past fraudulent behavior when running his hedge fund.  An example is he would lie, make a fake negative rumor on a company he was short, & spread this lie to enough contacts in the financial media & at big brokerages.

Although it's not at all hard for me to believe that Jim Cramer may have attempted to do some of this stuff, I doubt that it was nearly as effective as he claims.