“Why is the Street diligently advancing Jobs’ health as a front running concern? It’s because [Jim] Cramer is working hard to set up an irrational variable he can manipulate to drive Apple’s stock up and down and profit from the fears of misled investors,” Daniel Eran Dilger writes for RoughlyDrafted.
“Cramer made no bones about his willingness (and that of his hedge fund colleagues) to manipulate news to foment the market. That’s illegal, but the SEC has shown no willingness to enforce the law, resulting in the American securities market being dominated in the media by Cramer’s ridiculous trash TV style hysterics and angry clown act,” Dilger writes.
“Something else to consider: has Cramer ever been right about Apple? He insisted that Apple would subsidize service for the iPhone to the tune of thousands of dollars per user. He was behind Scott Moritz’ story that Apple had failed to meet its secret plans to sell a million iPhones in the first two days, a physical impossibility that did not correlate with Apple’s inventory supply,” Dilger writes. “He encouraged investors to sell Apple stock before it reported Q3 earnings last summer, advice that would have been expensive for anyone who listened.”
Dilger writes, “Cramer and the Street are consistently wrong, not because they occasionally overstate facts or make minor errors, but because they knowingly state the opposite of the truth. It would be statistically impossible to be as consistently wrong as the Street is without purposely lying.”
Much, much more in the full article here.
MacDailyNews Note: Cramer’s most-recent video regarding Apple:
Direct link to video here.
[Thanks to MacDailyNews Reader “JMS in TX” for the heads up.]