CNBC's Jim Cramer explains how to start Apple rumors
With the economy in the shape it’s in these days, it’s hard to know where to put your money. And information like this doesn’t really tend to reassure me. In the hopes of concluding their week-long feud, The Daily Show host Jon Stewart invited Mad Money’s Jim Cramer on to his show to discuss matters financial and journalistic.
The relevance to Apple? A clip that Stewart showed in which Cramer, in a December 2006 interview, explains how to start Apple rumors and short Apple stock:
That 2006 interview (full video at Apple 2.0) took place just a few weeks before Apple introduced the iPhone at Macworld Expo, a time when rumors were running amok, so I don't think Cramer was alone in perpetuating these "shenanigans," as Stewart puts it. But it certainly doesn’t engender trust when it comes to the often nonsensical predictions of financial analysts make in regards to Apple.
Now, I’m not saying that every rumor that comes spewing out of these sources is totally fictional, but I think it illustrates that it’s healthy to keep a skeptical view when somebody “in the know” pumps out some vague information that seems too good to be true.