Cramer next discussed how Apple was "an ideal short" because hedge fund managers know when they lie about Apple, "the people who write about Apple want that story. And you can claim that it is credible because you spoke to someone at Apple, because Apple isn’t in [a position to comment on unannounced products]."
”What’s important when you’re in that hedge fund mode is to not do anything remotely truthful. Because the truth is so against your view that it’s important to create a new truth, to develop a fiction. The fiction is developed by almost anybody who is down by 2% or up 6%. You can’t take any chances, you can’t have the market up any more than it is if you’re up 6.“
Asked by his interviewer about the fundamentals of the market (the actual performance of companies) compared to the mechanics of the market (the artificial actions taken by traders in a game of buying and selling shares), Cramer dismissed the idea saying, ”The mechanics are much more important than fundamentals."The great thing about the market is that it has nothing to do with the actual stocks. Maybe two weeks from now the buyers will come to their senses and realize that everything they heard was a lie."
"Who cares about the fundamentals?" Cramer asked. "Research in Motion just blew out the quarter. But look what people can do. That’s a fabulous thing. The great thing about the market is that it has nothing to do with the actual stocks. Maybe two weeks from now the buyers will come to their senses and realize that everything they heard was a lie."
Cramer then concluded, "I think it’s important for people to realize that the way that the market really works is to have that nexus of: hit the brokerage houses with a series of orders that can push it down, the leak it to the press, and then get it on CNBC; that’s also very important.
He said the same thing about Sprint as I loaded the boat and I will have 300% gain after the merger is over. Of course he was against it before he was for it. Now Cramer claims he got behind Sprint in the low $2.00 area, what a smuck.