Cramer loses to Bolling…
The New York Post’s Zachery Kouwe writes about the bet Jim Cramer lost to Eric Bolling…
Investors who took Cramer’s advice would have taken a 30 percent hit to their portfolios as the stocks of financial titans such as Citigroup and Merrill Lynch got hammered by the mortgage crisis.
On the other hand, investors savvy enough to follow Bolling’s bet on gold and oil would have hit the jackpot, as the hot commodities jumped over 60 percent in the same period.
Cramer, through a spokesman, blamed his loss on Federal Reserve Chairman Ben Bernanke’s failure to cut interest rates more aggressively.
“The bet turned on Jim Cramer emphatically calling for the Fed to ease rates. The Fed didn’t follow Jim’s advice, and as a result he’ll be happy
Cram it, Cramer. You don’t have such a hot record of picking stocks. Blame the Federal Reserve for your low ratings too if it makes you feel better.
Comment by Haile Welde — January 18, 2008 @ 9:13 pm