“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.]
Jim Cramer is a tool…he does not care about anybody. The only thing he cares about is the money he makes. To make matters worse, people watching his show believe him like he is some kind of guru.
Daniel usually come up with new information in his thoughtful, in depth pieces.
This is old, old news.
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..
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?
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.
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?
‘Why is TheStreet.com’s Jim Cramer so concerned with Apple CEO Steve Jobs’ health?’
He’s not. He’s just screwing around with the stock price – or trying to.
Without Cramer there’s no FUDD.
Here is a link about Thomas Edison and GE.
http://www.ge.com/company/history/edison.html
Steve Jobs and Thomas Edison are great people and will go down in history as great innovators and inventors. So will the companies they created. Neither man’s company will fail after they are gone.
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.
“Daniel usually come up with new information in his thoughtful, in depth pieces.”
Daniel usually incorrectly reinterprets the state of the world in the way only an idiotic fanboy could. He needs to put his tinfoil hat back on. Steve’s health is a valid item of concerned for any Apple investor. If you don’t believe that, just see what happens to the stock when Apple announces Steve is quitting or dying.
Enough is Enough, Please Mr. Jobs if your health is or was only a bug please put out a press release from your self, not from someone else in your company.
The fact remains… it’s not that Apple as a company will die with Jobs… but the stock may take a few months or years to recover. You’d be foolish not to sell if you think the stock will tank.
AND It WILL tank because when Jobs goes, it adds uncertaintly (read: risk) to owning Apple and Jim Cramer, as much as you malign him is speaking more about public opinion of AAPL than the company itself.
Stock Investors don’t like risk, much as you would think that they do. They DO, however, thrive on something that LOOKS risky but isn’t. It’s all about getting the edge. Knowing something is NOT risky when it appears that it is. If you know something is going to LOOK risky, you will sell before that happens… and then buy when stock tanks. Then as fears disappear you may have doubled your money.
Cramer is a manipulating crook.
Dillger creates THE very best researched articles to be found anywhere.
Oh, and the poster above is a Microsoft troll – they all so hate Dan and only ever resort to name calling with not a fact in sight.
First of all Cramer is right to be concerned, the man looks very sick. If Jobs dies the stock will lose at least 50 points that day if not more. Second, he only trades for a charitable trust, he stands to make zero money personally from driving the stock down. This stock is very tricky, it doesn’t always reflect fundamentals. I’m the biggest mac fan out there, but still sold 75% of my stock. It had a good run, don’t want to get greedy.
Health issues are considered private and are protected via federal law, its called HIPAA. Steve Job’s health is is business and his alone. At this stage, Apple is set to continue to innovate with the products they currently have and with whatever products they’ll be releasing further down the line, thankfully.
Cramer is harping on Job’s health simply because it’s the only negative item that he can grab ahold of and make an issue. The truth is, it’s a non-issue.
If people are going to continue asking question about Job’s health then they should do the same with Steve Ballmer. He’s overweight, and with that come a whole host of other related health issues like hypertension and diabetes. We don’t see anyone asking if he’s on the verge of a heart attack or a stroke, do we? We do often wonder when the next chair is going to be thrown across a room, or when he’s going to do another monkey dance.
JIm Kramer is to the stock market what Dick Vitale is to college basketball. Actually, that’s an insult to Vitale. The point is, is that after all the histrionics and stum and drang, all you are left with is another talking head that can be eliminated with a touch of your remote, so who cares?
Oops, that should be “strum and drang”.
@ Dilger…..
“Daniel usually incorrectly reinterprets the state of the world in the way only an idiotic fanboy could. “
Spoken like a true MS paid fanboy/troll.
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You know, I really love it these days when an MS troll makes comments. They have to go so far out on a limb to make bad Apple comments that it is a NO BRAINER to see them coming.
I am sure the Apple stock will drop if Steve Jobs dies. But the odds are very high that it will come back up. When Gates or Ballmer dies, or leaves office, I am sure MS stock will rise. It has no other way to go.
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en
@ Bob,
“This stock is very tricky, it doesn’t always reflect fundamentals. I’m the biggest mac fan out there, but still sold 75% of my stock. It had a good run, don’t want to get greedy.”
Hey MS Bob!! LOL Stock buying and selling is always personal. Glad you made a few bucks. But if you keep selling when a stock is going up,,,, when do you buy, after it tanks???
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At the end of this year, come back and tell us how much you lost by selling just before Apples best part of each year.
And to all those who are selling now, THANKS. With Apple starting its back to school time frame and then the holidays, when you buy back in as Apple stock soars, that will help the stock really climb. So, thanks in advance for every dollar you help me make. Really.
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Just a thought.
en
Do yourselves a favor and only listen to one analyst when it is regarding AAPL stock. Gene Munster of Piper Jaffray.
He’s literally the only one that has any clue when it comes to AAPL. If you follow his advice, you’ll make money. And if you listen to Cramer and The Street, you’ll lose money hand over fist…
@R5D4
Actually, that should be “sturm and drang” . . . not “strum and drang”.
@ApplePi
Congratulations on your PhD in Financial Self-Evidence! What profundity you evince with “You’d be foolish not to sell if you think the stock will tank.” Gawd, but I bet nobody EVER thought of that strategy!
We all grovel at your feet, oh Master of The Universal.
So…do the opposite of what jim says…
@ElderNorm I hope it does go up, I still own over 100k, and yes i do buy when it tanks, remeber that 40 point drop a few months back? My trailing stop triggered at a 7% dropp, and bought back in at around $127. If jobs die’s, I’ll be buying that day. People get so emotionally involved with AAPL, at the end of the day it’s just a stock, I’d rather play Agriculture right now…
After the cancer scare, does anybody really think that Apple doesn’t have a succession plan? And does anybody really think that an ultra secretive company like Apple will do a lot of talking about that succession plan? I’m sure it’s all in place. The stock would get crushed, but the company will be fine in the long run, since we all know Jobs has surrounded himself with some of the best in the business. A grain of salt isn’t enough, take Cramer with a full shaker…