“Flamboyant Wall Street trader turned TV host Jim Cramer, not known for being the shy, retiring type, might have said too much in a video interview he did for a financial Web site,” Roddy Roddy Boyd reports for The New York Post. for The New York Post.
“The host of CNBC’s daily program ‘Mad Money’ had hedge fund-trading desks buzzing yesterday after he bragged about manipulating stock prices during his days as a trader,” Roddy Boyd reports for The New York Post.
Boyd reports, “In the video from TheStreet.com’s ‘Wall Street Confidential’ Webcast, Cramer boasts about manipulating the price of a high-flying stock down, and even acknowledges that doing so might have been illegal.”
MacDailyNews Note: Actually, in the video, Cramer says it’s legal.
Jim Cramer talks Apple and others on “Wall Street Confidential” with Aaron Task (10:38):
Full NY Post article here.
Something this obvious should not be surprising to anybody. Our own SteveJack discussed similar concepts on our Opinion page back in January (The massive FUD campaign against Apple’s iPhone ramps up). As we’ve long said, Wall Street is a game: play it well or don’t play it at all. As for Cramer, perhaps those who might be inclined should think before shooting the messenger.
Jim Cramer: Apple deserves a breakout – February 08, 2007
Jim Cramer: AT&T to promote Apple iPhone with 18 months of free service – January 25, 2007
Jim Cramer: Apple Computer is the ‘buy of the century’ – November 29, 2006
Mad Money’s Cramer: hammering Apple stock is much like ‘shooting Apples in a barrel’ – July 12, 2006
Cramer: ‘I have never seen a systematic, multiweek bear raid like I have on Apple Computer’ – March 27, 2006