Why is TheStreet.com’s Jim Cramer so concerned with Apple CEO Steve Jobs’ health?

“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.]

49 Comments

  1. I used to like “The screaming Stock Guy” but I to beleive he is full of baloney and drama nowadays. I take his advice w a grain of salt as I always feel theres an alterior motive. He will tout a stock one day and then trash it a week later like he never loved it.

    He has been behind Apple but I think he is bad for the stock and is one of the reasons for it being so volitile and unable to get away from day trader manipulation..

  2. Cramer compared Apple to Thomas Edison’s company after Thomas Edison died. Thomas Edison’s company became General Electric (the company he works for).

    Apple will always be investable even after the loss of their great founder when that happens. Is General Electric not investable Jim Cramer?

  3. Also, Cramer can’t bit the hand that feeds him. If he turned on RIMM which will be crushed this year as Apple takes Blackberry’s market share with the new iPhone 3G, RIMM will pull their advertising dollars from TheStreet.com and MadMoney.

  4. Cramer is suggesting that 3/4 position be sold IF the investor believes Jobs to be in poor health. I’m not sure that this article is substantiated, and if any attempt to “manipulate” the stock market were so transparent as to be discernible beyond statistical fluctuation, then it would almost be a certainty that legal action would be taken by many major parties. Cramer, to me, is genuinely touched, as most of us are, by the passion behind Apple. Maybe it’s a man thing, be we love our gadgets–indeed, they are more than gadgets, aren’t they?

  5. You know, it’s funny how there is such a foolish spin on this. It’s foolish for those that think that if Jobs doesn’t live for all eternity, Apple will die when he does.

    As human beings, we all freakin’ die. That’s life. But companies go on and flourish well after their founders leave this world. If Apple had no succession plan in place for that inevitability, they would be fools. Of course, that cannot be the case.

    Steve Jobs is not going to live forever. And even if he lives into his golden years (and we pray he does not leave us sooner), at some point he will have to step aside. As long as there are no more John Scullys or Gil Amelio’s filling those big shoes.

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