Like him or loathe him, Jim Cramer is certainly never at a loss for words. For those of you who may not remember, on Tuesday March 11th 2008 Mr. Cramer said the following in response to a viewer question:
Dear Jim: “Should I be worried about Bear Stearns in terms of liquidity and get my money out of there?” – Peter
Jim Cramer: “No! No! No! Bear Stearns is fine. Do not take your money out. Bear sterns is not in trouble. If anything, they’re more likely to be taken over. Don’t move your money from Bear. That’s just being silly. Don’t be silly.
Bear Stearns failed in a big way and had to be bailed out by the Fed and then bought for $2 a share within one week.
Mr. Cramer was just quoted here saying:
I think the short selling is just going to annihilate people when you can start trading it. Once this thing starts trading the futures, they are just going to kibosh it.
One wonders how his track record will look after the end of of this week…
