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popegope428 t1_j0prw8u wrote

Reply to comment by AutoX_Advice in Social media influencers are charged with feeding followers ‘a steady diet of misinformation’ in a pump and dump stock scheme that netted $100 million by Wagamaga

But didn't Cramer lose money on FTX?

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AutoX_Advice t1_j0pt8fl wrote

I'm not sure. He does say what he is invested in. I stopped watching him years ago cause it because a circus with his buy buy buy, sell sell sell etc and this is not what you want in a money manager with influence imo. For me it just became an entertainment show masked in grandioso financial expertise on a financial channel that didn't care about real people's money...aka 2008 and derivatives.

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CinSugarBearShakers t1_j0t5cyq wrote

There was a good article about 1988 and derivatives and how we still haven't recovered from that. 2023 is gonna be lit.

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AutoX_Advice t1_j0u58mq wrote

Do you mean 2008?

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CinSugarBearShakers t1_j0ulhdk wrote

Nope, 1988. Derivatives is just legal gambling.

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AutoX_Advice t1_j0ulnti wrote

Derivatives and swaps all part of 2008 too. I want old enough in 88 to care. 🤣

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CinSugarBearShakers t1_j0um4g2 wrote

But its part of the history of it. Learn from it or doomed to repeat it? ;)

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AutoX_Advice t1_j0umu5c wrote

We continue to repeat it.... I figure the more complex any investment is the easier of a seller to hide costs and risks. This was the case for 2008 and the case of crypto/blockchain. Nothing like old fashion CDs and stock dividends that are simple mechanics to basic users to understand.

BTW I'm not saving CDs are a great investment strategy just I've someone thinks that.

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HarryHacker42 t1_j0qi2v7 wrote

I saw some research that said Jim Cramer's picks are below the SP500. Just invest in the SP500 and you will outperform him.

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pointlessbike t1_j0qv68n wrote

Investment in reverse Cramer picks is a solid strategy too. He says sell? Time to buy!!

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SwallowYourDreams t1_j0rq1d9 wrote

They inverse Cramer ETF is just a matter of months now.

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pointlessbike t1_j0rxubi wrote

Ha! Sign me up

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ahungrylilsandwhich t1_j0s6aa3 wrote

You're thinking of Kevin O'Leary. Cramer didn't invest in FTX.

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charlie2135 t1_j0sbkqx wrote

Yeah, hearing about him crying about it brings a smile to my face.

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SlowMotionPanic t1_j0v7hg3 wrote

Yeah, watching Kevin blathering and lying before Congress about FTX to downplay his own involvement was infuriating.

He was defending a self-proclaimed fraudster. He was blaming Binance and insisting that FTX would’ve made it without their interference. This, at a time when there is serious talk about clawing back payments old FTX leadership made to people like Kevin while the ship sunk.

The current (disaster-leadership in a good way) CEO has hinted this is still on the table. So that grifter Kevin has every reason to play ball and back SBF’s bullshit still.

What a piece of human garbage.

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