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The Masked Tulip

The Official End To The Bear Market Rally

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http://www.gurufocus.com/news.php?id=58497

I have never come across this chap's blog before but he has an interesting take on the CNBC view that the worst of the mess is over. It is a long read but a very interesting one if you have 10 minutes.

He is basically highlighting the analyst 'Cramer' who is a CNBC financial guru and is comparing what he has said over the past year about stocks, housing and the general economy to what actually happened... and what Cramer is now saying about the economy.

Worth a read IMPO.

Unfortunately, he is at it again in an article entitled “Thank Bernanke†published on June 5th in New York Magazine.

“The soft-spoken academic who has toiled in the shadows of his legendarily self-promoting predecessor, Alan Greenspan, will be known as the man who averted the Great Depression Two, a sequel that could have eliminated the United States as a world financial superpower and reduced us to this century’s Britain.â€

Any investor who is bullish at all about the world economy and stock markets should shudder when they read that Cramer has given the all clear signal. If his ability to analyze the depth of the crisis in March of 2008 is any indication, we may be very far from a bottom now.

“He (Bernanke) went on 60 Minutes. We may not have known it at the time (unless you’re a financial type, his appearance wasn’t exactly riveting), but when we look back at the beginning of the new bull market of 2009, the one that has taken prices up 30 percent from their bottom, we will discover that Monday morning, March 16, the day after Bernanke sat down and talked to us straight about the jam we were in, was a seminal day.â€

Poor Ben Bernanke. Not only is he stuck with rising Treasury yields despite his attempts to keep them down, but now he has been jinxed by Cramer. Being endorsed by Cramer is kind of like being on the cover of the EA Sports John Madden football video game. The Madden curse, as it is widely known, came about as a result of the player on the cover consistently either getting injured or having a terrible season after being selected to grace the cover. For the sake of all investors let us hope that Cramer’s magical ability to be completely wrong has dissipated and his recent call is not the ultimate contrary indicator that the world economy is in for substantially more pain.

Mad Money

The Jon Stewart Daily Show interview with Cramer is well worth a watch also.

Edited by The Masked Tulip

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Well the Kramer interview was interesting, but its naivety versus naivety.

The Kramer is guy is a self-confessed snake oil salesman who admits when he's wrong but he's no dummy and he's more honest than some. If he says the worst is over he may be right, after all he's probably bound to call it right some day.

We all know the score. The world economy is a house of cards that might stand up, or collapse. Some days I think its going to stand up, other days that its going down. No-one knows, and anyone who knows anything knows no-one knows. Thats why brazen 'calling the turn' statements might be good telly, but its nonsense and we should all know its nonsense. Think used cars - I'm not sure why I said that.

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Guest มร หล&#3
Well the Kramer interview was interesting, but its naivety versus naivety.

The Kramer is guy is a self-confessed snake oil salesman who admits when he's wrong but he's no dummy and he's more honest than some. If he says the worst is over he may be right, after all he's probably bound to call it right some day.

We all know the score. The world economy is a house of cards that might stand up, or collapse. Some days I think its going to stand up, other days that its going down. No-one knows, and anyone who knows anything knows no-one knows. Thats why brazen 'calling the turn' statements might be good telly, but its nonsense and we should all know its nonsense. Think used cars - I'm not sure why I said that.

It won't collapse.

People still trade. People still need to eat. People still need clothes. People still need light and shelter. The West has a welfare state, for better or worse. It didn't during the Great Depression.

I think some here think of it as an M. Night Shyamalan film like The Happening (awful film by the way for those who have never seen it).

Sure things will be bad. People disappointed. Life not working out how you thought it would, God knows I know that.

But you'll all survive to see better days.

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Guest X-QUORK

Wasn't Kramer roundly considered an over-emotional buffoon amongst many HPCers?

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Guest มร หล&#3
Wasn't Kramer roundly considered an over-emotional buffoon amongst many HPCers?

Yes.

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Yes.

I think Cramer is generally considered the best contrarian indicator on the planet.

If he is currently cheering the Fed I wouldn't want to be in Bernake's shoes right now :lol:

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