Signs Of The Time, Part 6
Do any of you watch Jim Cramer’s “Mad Money” show on CNBC? Jeff Poor (yes, that’s his real name) of the Business & Media Institute had an interesting story today about a recent inquiry to the television personality regarding a particular investment bank in the headlines. Poor wrote:
But, on March 11, Cramer told an e-mailer not to sell the beleaguered investment bank’s stock on his show’s Web site:
“Dear Jim: Should I be worried about Bear Stearns in terms of liquidity and get my money out of there? –Peter
Cramer says: “No! No! No! Bear Stearns is not in trouble. If anything, they’re more likely to be taken over. Don’t move your money from Bear.”
Poor added:
On Jan. 17, 2007, Bear was trading at its high of $171.51 a share. Since then, it has been racked by the mortgage turmoil. On March 11, when Cramer posted the e-mail and his response, the stock closed at $62.97. As of 10:00 a.m. on March 17, the stock was trading at $3.72 a share.
The stock ended the trading day Monday at $4.81 a share.
Source:
“Oops – CNBC’s Cramer Said ‘Don’t Move’ From Bear a Week Before Collapse”
Jeff Poor
Business & Media Institute, March 17, 2008
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