I think the last time I watched Mad Money by accident or laziness (doing something else and was too lazy to go for the TV remote), Jim was going on and on about buying oil (after about a 5 year run and late in Bush II's second term) on the next EIA petroleum report that sent oil down, he termed it as a "Contrarian Trade", which was funny on a couple of levels: 1) Oil was the trade like Gold was the trade during 2010 and 2) Umpteen million CNBC viewers all doing the same thing, the same time in the same asset is contrarian? That same week of late September 2008 and for about a month before, we were calling a top in oil at Trade-Guild.
So I thought I'd publish this rant I picked up from ZH with Cramer giving out some free investing advice (to buy everything Tech) about 1 month before Tech saw the start of the 2000 sell-off-Irony Abounds.
Here's that link
And then there's this one that is a MUST SEE video for a variety of reasons, best summed up by Cramer's own words... (Watch it while you can, the links are disappearing faster and faster)
Cramer on creating a new truth in order to create a fiction...
" But what’s important when you’re in that hedge fund mode is to not do a thing remotely truthful, because the truth is so against your view that it’s important to create a new truth to develop a fiction. "
Cramer on skirting the laws...
" You can’t create yourself an impression that a stock’s down. But you do it anyway ‘cause the SEC doesn’t understand it. That’s the only sense that I would say this is illegal. "
Cramer on using CNBC reporters to spread false information...
"Again, when your company’s in a survival mode it’s really important to defeat Research in Motion. You get the Pisanis of the world and the people talking about it as if there’s something wrong with RIMM. Then you would call the Journal and you get the bozo reporter on Research in Motion, and you would feed that Palm’s got a killer it’s gonna give away.
Cramer on whether you can compete on an institutional level without breaking the law...
These are all the things you must do on a day like today. And if you’re not doing it, maybe you shouldn’t be in the game."
Cramer on how to short AAPL and use false rumors and options to keep AAPL down...
"Again, if I were a short Apple, I would be working very hard today to get that. The way you would do that is you pick up the phone and you call six trading desks and say, “Listen, I just got off the phone with my contact at Verizon and he has already said, ‘Listen, we’re a Lucky G house. We’re a Samsung house. We’re a Motorola house. There’s no room for Apple. They want too much. We’re not gonna let them in. We’re not gonna let them do what they did to music.’” I think that’s a very effective way to keep a stock down.
By the way, ‘cause the stock at 84/85 - a little bit a capital you go buy some January 80 puts that makes it look like there’s gonna be something going on. So maybe give Morgan an order to buy 1,000 Jan 80 puts, and then you go position limit with …maybe you use a hack firm that doesn’t know what the heck its doing – maybe you go to UBS for puts.
You just kinda create an image that there’s gonna be news next week, and that’s gonna frighten everybody –
Cramer on using CNBC reporters to spread lies again...They all go out and say, “March put buyer: UBS.” Then they call Pisani again. You have to use those guys and say, “Listen, I see a big buyer puts and I’m told that it’s SAC.” You would do that, too. These are all what’s really going on under the market that you don’t see."
Interested in the video? You should be, this is the guy who stands for the little guy, but is and forever will be Goldman Sachs Alumni first and foremost, I realized that back in 2008 with the oil trade.
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