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  • stockmonkey77 stockmonkey77 May 25, 2005 12:05 AM Flag

    Complaint letter to CNBC about Cramer

    THIS LETTER WAS SENT GUYS AT SQUAWKBOX AND MARIA B. (The Money Honey)

    Today on Madmoney, Jim Cramer screamed that his audience should immediately sell GOOGLE because thats what all of his hedgefund friends were planning on doing on Wednesday. Goog dropped over 3 points after he repeatedly made the statement.

    Let me first say that this guy is not moving markets because he is Cramer. He is moving markets because he is on CNBC at 6:00PM. Because of the audience you have built as a journalistic company we have NO CHOICE but react to what is being said on your network.

    Why should I be forced to jump out of my chair and rush to my computer and make some rash decision about a stock because of what some long time CNBC anchor is screaming to a nationwide audience provided to him by well respected news agency CNBC. Why should I be a victim to the success of CNBC. Why should I suffer because your network has a loyal audience built on years of fantastic jouranlism and high quality reporting. Is it really fair to stop covering the news at 4:59pm and start creating it at 5:00pm.

    CNBC has grown into something powerful by being a highly credible and ethicle news organization. It has now used used that power to create a show like Mad Money and a TV Star in the form of Jim Cramer. In turn Jim Cramer is using this power to create dramatic shifts in after hour trading. He has the power to do such things only because of CNBC. I have tremendous respect for you guys on Squawk but as a news organization I do not see how you can justify seperating the coverage of news and creation of news with disclaimers.

    I love CNBC. I cannot stand the fact that I have to worry about what CNBC's home grown on air personailities have decided they want the markets to do on a given day or in a give after hours session.

    Cramer ONLY has power because of his time slot on CNBC. He could not move the markets a penny if his show came on Sat morning on FOX. People watch your network because we know that is the place to find out what is happening in the financial world. Cramer is urinating all over the enormous influence CNBC yields and you are letting him do it for ratings. Once again- this guy is not moving markets because he is Cramer. He is moving markets because he is on CNBC. Damn I am mad.

    Sincerely,
    LONG TIME CNBC FAN

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Yesterday Cramer was talking to "TRADERS!" He was not talking to "LONG TERM INVESTORS!" I am a trader. I also have a core long term portfolio which has high yielding oil and gas trusts + High Yield DOW 30 and the likes of Seaboard, NVR, Berkshire Hathaway A & B and long term bonds. Whn I sell a trading position like Google I dump it all. A handsome profit was averaged at about $73 per share. I will not add this one to my long term folder anytime soon.

    • I'm sure if GOOG when up, this letter would never be sent!!

    • You and anyone that comments on CNBC on this board or any other board are "LOVED BY CNBC EXECUTIVES!" Cramer is a hit! And we are not talking about a local NYC show hit. Cramer is worldwide! So continue to play into the CNBC hype and they will love you and Cramer forever! I sold after the S&P did not add Google! Not because of what Jim Cramer said ! :) peace

    • You are an idiot. I hope you actually sent that stupid letter to CNBC. They would get a real laugh about the stupidity of the American high school system. Anything more I have to say about you and your thoughts is a waste of time/electrons.

    • Are youserios or just joking with this letter?
      You know they have disclaimers on the broadcast as well as web site?

    • crying and get on with it..........

    • THIS LETTER WAS SENT GUYS AT SQUAWKBOX AND MARIA B. (The Money Honey)

      Today on Madmoney, Jim Cramer screamed that his audience should immediately sell GOOGLE because thats what all of his hedgefund friends were planning on doing on Wednesday. Goog dropped over 3 points after he repeatedly made the statement.

      Let me first say that this guy is not moving markets because he is Cramer. He is moving markets because he is on CNBC at 6:00PM. Because of the audience you have built as a journalistic company we have NO CHOICE but react to what is being said on your network.

      Why should I be forced to jump out of my chair and rush to my computer and make some rash decision about a stock because of what some long time CNBC anchor is screaming to a nationwide audience provided to him by well respected news agency CNBC. Why should I be a victim to the success of CNBC. Why should I suffer because your network has a loyal audience built on years of fantastic jouranlism and high quality reporting. Is it really fair to stop covering the news at 4:59pm and start creating it at 5:00pm.

      CNBC has grown into something powerful by being a highly credible and ethicle news organization. It has now used used that power to create a show like Mad Money and a TV Star in the form of Jim Cramer. In turn Jim Cramer is using this power to create dramatic shifts in after hour trading. He has the power to do such things only because of CNBC. I have tremendous respect for you guys on Squawk but as a news organization I do not see how you can justify seperating the coverage of news and creation of news with disclaimers.

      I love CNBC. I cannot stand the fact that I have to worry about what CNBC's home grown on air personailities have decided they want the markets to do on a given day or in a give after hours session.

      Cramer ONLY has power because of his time slot on CNBC. He could not move the markets a penny if his show came on Sat morning on FOX. People watch your network because we know that is the place to find out what is happening in the financial world. Cramer is urinating all over the enormous influence CNBC yields and you are letting him do it for ratings. Once again- this guy is not moving markets because he is Cramer. He is moving markets because he is on CNBC. Damn I am mad.

      Sincerely,
      LONG TIME CNBC FAN

    • makelootdontplaywithyourflute makelootdontplaywithyourflute May 25, 2005 1:42 AM Flag

      First off if you want to make money in the markets TURN OFF CNBC! GOOG has had a very powerful surge upwards it needs a pullback. It needs to be shot down in the short term. Profit takers exit and new investors come in on a pullback. Those that missed the surge this pullback makes it that much stronger. It is very healthy for a stock.
      Stop crying the blues! You were probably jumping for joy the night before when he was on the buy side.


      Check out ADST, triple your money in no time.
      online advertising company with mega GROWTH read the earnings report.
      http://biz.yahoo.com/prnews/050516/nym086.html?.v=8
      Since the year 2000 only 800 posts on the forum, I would say not many know about it.

      Take care and good luck

    • "Do you understand the words that are coming out of my Mouf (Mouth)" - Chris Tucker in Rush Hour 2

      Can you comprehend what Cramer is saying? Take your profits tomorrow since Hedges are likely to. And Buy Back on Friday. He remains Bullish. And more importantly, his estimate of $350 is still intact.

      I don't hold a position but SH*t, there's a whole lot of misconstruing and "out of context" bullcrap going around here.

      Goodluck to all longs and shorts.

    • Despite the popularity of Cramer, he does not have the power to move markets significantly. Don't let him get to you. Institutions move the market, not little retail guys that watch Cramer. Take what he says with the grain of salt. He is only right about 1/2 the time but damn, he sure is cheap entertainment!

      Some people even believe he is a contra indicator. Some traders intentionally do the opposite of what he suggests on purpose. Anyone who uses one source on which to base trading decisions is in trouble. Cramer moving the market? Not likely.

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