558K views · Mar 17, 2008 · 1:34 · 0 HN recommenders · 5 mentions · discussed 2010–2026
A short clip of CNBC's Jim Cramer insisting Bear Stearns is fine in March 2008, days before the firm was sold to JP Morgan for $2 a share.
Why Hacker News points people here: Used as a joke or cautionary example of confident financial punditry that proved wrong, often referenced during bank scares and bubbles.
“just 5 days before they were sold for $2 a share”
And of course Kramer followed up nuggets of wisdom like this with "Bear Sterns is fine!" just 5 days before they were sold for $2 a share: this video I really thought his Daily Show appearance would be the beginning of the end for him, but obviously I overestimated the long-term memory of the average CNBC viewer.
“Note that Jim Cramer is still running his show.”
Somehow Jim Cramer with his infamous Bear Sterns prediction comes to mind: this video Note that Jim Cramer is still running his show.
“The fact that he still had a job after his 2008 mistake”
The fact that he still had a job after his 2008 mistake of insisting that Bear Stearns was fine and a safe place to keep your cash, is astounding. That should've been an unrecoverable mistake, especially with how strongly he was certain. "Should I be worried about Bear Stearns in terms of liquidity and get my money out of there? No, NO, NO!!!" (Afterwards... 90% loss in the next 6 days.) this video
“it does conjure to mind the video of Cramer saying Bear Stearns was fine.”
Maybe not that exact phrase but it does conjure to mind the video of Cramer saying Bear Stearns was fine. this video
“The top will be when Jim Cramer loudly proclaims there is no problem at Oracle and gives a buy rating.”
The top will be when Jim Cramer loudly proclaims there is no problem at Oracle and gives a buy rating. this video
