Stewart tackles Cramer

I think Jon Stewart is a day late and a dollar short. I think Cramer is a typical television show guru and typical stock picker. The market is more about law of percentages than it is about stock picking. The market operates in such a way that most people don't know the direction of stocks. They buy stocks with stop loss orders or put protection. The oil they sell on TV is to try and fool people into believing that these “guru’s” have some secret that is written in their book. It is the same reason people are willing to hand their entire fortunes over to a mutual fund manager and hope they get 8% return without having to figure out how the market really works. Picking a well known figure to tear down is more of a publicity stunt than some type of constructive “comedy.”

An interesting side note is that even a lot of the people who seemed to have called the meltdown still really missed the extent of the down turn. Many were all in on emerging markets while bashing the US and the dollar. The decoupling theory may have gotten put to bed at least for a while.

The bear market is extremely difficult to trade and the entire financial system of the United States is predicated on the stock market going up. There is so much riding on the market that we can not survive any sustained bear market. All the 401 k plans, all the mutual funds, all the pension plans, and college savings plans through the state virtually put our country at the mercy of the market. CNBC and Cramer missed the meltdown as did a majority of people. However, I see no point to J Stew's rant on Cramer and CNBC. Is it that Stewart has been so busy the past 2 year that he missed the entire implosion and now that he can't blame it on "his" president, it was time to go on the war path? Speaking of disingenuous bye the way, Stewart seems to have that market cornered.