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(Foreign Policy)   It's that time of year again: from Hilary's inevitablity to the reason it was impossible for Somali pirates to seize an oil tanker: a round-up of the ten stupidest things said by media pundits in 2008   (foreignpolicy.com) divider line 52
    More: Amusing  
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18621 clicks; posted to Main » on 09 Dec 2008 at 7:49 PM (6 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2008-12-09 04:07:53 PM  
Kristol and Krauthammer could be on this list every year. They are almost always wrong. I have no idea how either of them still have jobs.

My question is: Where is Larry "The economy is just peachy" Kudlow? But I suppose outright lying is different from just making bad predictions.
 
2008-12-09 04:22:32 PM  
Couldn't they just dig up five quotes each from Kristol and Krauthammer?

sigdiamond2000: My question is: Where is Larry "The economy is just peachy" Kudlow? But I suppose outright lying is different from just making bad predictions.

Re-read - he's there.
 
2008-12-09 04:22:45 PM  
Nice, Kristol's #1, the guy who's never right about anything.

tfa: The Times is currently rumored to be looking for his replacement.

The Times farked with their credibility the day they hired him. wtf were they thinking?
 
2008-12-09 04:24:04 PM  
Oh, and I'd be curious to see Cramer's actual track record on picking stocks. My hunch for years has been that he only has his own show because he's very loud.
 
ZAZ [TotalFark]
2008-12-09 04:34:58 PM  
The LHC was turned on in September, and it appears that we are still here.

The LHC did not start colliding large hadrons. We will die next summer.
 
2008-12-09 04:44:42 PM  
www.foreignpolicy.com

There's my girl...
 
2008-12-09 06:02:24 PM  
Bill Kristol is a saint. He gives hope to millions of mentally retarded people every day that he is able to maintain employment.
 
2008-12-09 06:07:24 PM  
Shocking to see Bill Kristol at #1.
 
2008-12-09 06:27:49 PM  
to be fair to number 8, it still could happen. he predicts it could happen by march of 2010, and seeing how fast it shot up, and then dropped, it's still possible.

"The possibility of $150-$200 per barrel seems increasingly likely over the next six-24 months." -Arjun Murti, Goldman Sachs oil analyst, in a May 5, 2008, report
 
2008-12-09 06:44:45 PM  
kmmontandon: Couldn't they just dig up five quotes each from Kristol and Krauthammer?

that was my thought as well.
 
2008-12-09 07:13:12 PM  
www.foreignpolicy.com

INVISIBLE CORRECT PREDICTIONS
 
2008-12-09 07:26:53 PM  
DamnYankees: Shocking to see Bill Kristol at #1.

I am kinda shocked, actually.

I expected him clinch the top 5, at least.
 
2008-12-09 07:58:23 PM  
I don't believe they stated that it was impossible for pirates to hijack a tanker, only that it would take a major naval power to seriously disrupt the flow of oil.
 
2008-12-09 07:58:24 PM  
BKITU: INVISIBLE CORRECT PREDICTIONS

I lol'd

A couple from that list were amusing, most of them were depressing.
 
2008-12-09 07:59:13 PM  
patrick767: Oh, and I'd be curious to see Cramer's actual track record on picking stocks. My hunch for years has been that he only has his own show because he's very loud.

I'm sure his stock picks are probably quite profitable, just not for the people watching the show...
 
2008-12-09 08:00:00 PM  
patrick767: Oh, and I'd be curious to see Cramer's actual track record on picking stocks. My hunch for years has been that he only has his own show because he's very loud.

Its been shown repeatedly that his picks are worse than picking stocks via random throw at dartboard and he rarely even outperforms the market as a whole.

Its also been shown that his "picks" often very "coincidentally" match up well with personal interests of him and his friends. I wish I could have a talk show and be able to manipulate stock prices with it. He may be fun to watch sometimes to some people, but I'd never buy a stock based on his show.
 
2008-12-09 08:04:08 PM  
"There is a real possibility of creating destructive theoretical anomalies such as miniature black holes, strangelets and deSitter space transitions. These events have the potential to fundamentally alter matter and destroy our planet." -Walter Wagner, LHCDefense.org

Pure bullshiat, but it sounds good. I give him the nod.
 
2008-12-09 08:04:16 PM  
95629: patrick767: Oh, and I'd be curious to see Cramer's actual track record on picking stocks. My hunch for years has been that he only has his own show because he's very loud.

Its been shown repeatedly that his picks are worse than picking stocks via random throw at dartboard and he rarely even outperforms the market as a whole.

Its also been shown that his "picks" often very "coincidentally" match up well with personal interests of him and his friends. I wish I could have a talk show and be able to manipulate stock prices with it. He may be fun to watch sometimes to some people, but I'd never buy a stock based on his show.


Every time I try to explain this to my dad, he acts like Jim Cramer is a friggin' saint. He loves Cramer, and I cannot convince him otherwise. Thank God he doesn't actually follow through with buying the stocks.
 
2008-12-09 08:05:55 PM  
Oh, and Kristol could probably have his own "Failtastic quotes" article. Let's hope the Times dumps him and picks someone like Ross Douthat for their token conservative slot.
 
2008-12-09 08:06:56 PM  
I view any political prognosticators as Nostradamus-y within this (1-2 years) climate.
 
2008-12-09 08:09:56 PM  
Ugh, that bit about the oil tankers was so far off...
The article in Foreign Affairs only got the first part about the defendebility of tankers wrong, the rest was quite right. What lasting economic effects have the hijackings had, and how big a threat are they to shipping? And the bit about the US being the only state being able to disrupt oil supplies at sea is spot on.
 
2008-12-09 08:11:50 PM  
patrick767: Oh, and I'd be curious to see Cramer's actual track record on picking stocks. My hunch for years has been that he only has his own show because he's very loud.

No WAY!
img155.imageshack.us
 
2008-12-09 08:14:28 PM  
The LHC was turned on in September, and it appears that we are still here.

The LHC did not start colliding large hadrons. We will die next summer.


Came here to mention that the collider had some problems and they have been working on it ever since. I guess you covered that.

What a cool ELE that would be. No living thing left behind. No Planet. Like that John Lennon song Imagine.
 
2008-12-09 08:15:11 PM  
As much as I hate Bill Kristol -- and I do so very, very much -- I think Cramer should be No. 1. His entire freaking job is to be somewhat less retarded about the economy than the average Joe, and he failed hard. Hell, I can give people totally wrong financial advice for only a few hundred thou per year as opposed to his millions. Any takers?
 
2008-12-09 08:21:02 PM  
I don't feel comfortable with #9 being on that list. It's too early to say it won't happen.
 
2008-12-09 08:21:20 PM  
His stock picks are 48%.. buy or sell.. aggregate. For comparison mine are 61%. Half of the average investors on Motley Fool that allow their picks to be tracked are 45% and higher. Some are in the 70% range.

Gives you an idea of where Cramer sits in the mix.

patrick767: Oh, and I'd be curious to see Cramer's actual track record on picking stocks. My hunch for years has been that he only has his own show because he's very loud.


images.businessweek.com

hotlinked cause i don't want to waste the effort on this asshat.
 
2008-12-09 08:31:43 PM  
For shiats and giggles, I just kept on repeating "Inconceivable!" after all of these.

Much better...
 
2008-12-09 08:34:47 PM  
I don't see how the quote about pirates vs. tankers was wrong. The original quote talked about something that would "seriously upset traffic," and the taking of the Sirius Star doesn't really seem like the type of thing they were talking about.
 
2008-12-09 08:36:09 PM  
xynix: His stock picks are 48%.. buy or sell.. aggregate. For comparison mine are 61%. Half of the average investors on Motley Fool that allow their picks to be tracked are 45% and higher. Some are in the 70% range.

Gives you an idea of where Cramer sits in the mix.

patrick767: Oh, and I'd be curious to see Cramer's actual track record on picking stocks. My hunch for years has been that he only has his own show because he's very loud.

hotlinked cause i don't want to waste the effort on this asshat.


Link (new window)
Link (new window)

In the second link, Cramer actually responds to the guy's analysis of his picks.

Cramer's reasoning for the very methodical analysis of his picks being completely wrong:

"Do you think if I were as bad as your records show, I would ever have been able to

a. make $100 million in the market investing for myself,

b.have a show that has gained in audience at the time when you say I have done poorly, and

c. started one of the few FINANCIALLY successful websites out there in part because of subscribers to my newsletter and columns? "

This guy is a rat, and his show should only be used for entertainment. He is taking advantage of people.
 
2008-12-09 08:37:16 PM  
oops:

Link (new window)
 
2008-12-09 08:41:59 PM  
xynix: His stock picks are 48%.. buy or sell.. aggregate. For comparison mine are 61%. Half of the average investors on Motley Fool that allow their picks to be tracked are 45% and higher. Some are in the 70% range.

Gives you an idea of where Cramer sits in the mix.

patrick767: Oh, and I'd be curious to see Cramer's actual track record on picking stocks. My hunch for years has been that he only has his own show because he's very loud.

hotlinked cause i don't want to waste the effort on this asshat.


He almost cost me big bucks on Stark Industries when he said it was a loser. Guess he didn't think the powered suit would be a big earner.
i13.photobucket.com
 
2008-12-09 08:42:58 PM  
I thought Cramer's comments were about actually money in Bear Stearns accounts, not money tied up in shares of Bear Stearns.
 
2008-12-09 08:49:31 PM  
Sir Edmund Hilary?
 
2008-12-09 08:59:35 PM  
That should be "actual money", not "actually"

/need sleep
 
2008-12-09 09:08:02 PM  
#3 and #8 don't sound that wrong to me. Somali pirates aren't seriously disrupting world oil flow and saying prices could hit $150-$200 a barrel sounds pretty darn close when they hit $147.
 
2008-12-09 09:15:50 PM  
shaggenstein: to be fair to number 8, it still could happen. he predicts it could happen by march of 2010, and seeing how fast it shot up, and then dropped, it's still possible.

"The possibility of $150-$200 per barrel seems increasingly likely over the next six-24 months." -Arjun Murti, Goldman Sachs oil analyst, in a May 5, 2008, report


I agree with you...why is Murti being pilloried? In March he predicts $150 oil within 6-24 months. Four months later it hits $147 and change. How farking far off is that?
 
2008-12-09 09:15:56 PM  
I'm still waiting for that heart-pounding general election battle royale between Hillary and Giuliani.
 
2008-12-09 09:20:16 PM  
I hate top 10 lists that number incrementally. You lose the suspense.
 
2008-12-09 09:28:49 PM  
To be fair this statement could still come true

"The possibility of $150-$200 per barrel seems increasingly likely over the next six-24 months." -Arjun Murti, Goldman Sachs oil analyst, in a May 5, 2008, report

If it did would that be irony?
 
2008-12-09 09:36:26 PM  
Mycroft_Holmes_IV: I hate top 10 lists that number incrementally. You lose the suspense.

FTFM
 
2008-12-09 09:38:25 PM  
I'm confused. How could Bill O'Reilly NOT have made the top 10?
 
2008-12-09 09:54:07 PM  
CravenMorehead: Bill Kristol is a saint. He gives hope to millions of mentally retarded people every day that he is able to maintain employment.

Oh god... I chortled.
 
2008-12-09 09:56:57 PM  
sigdiamond2000: Kristol and Krauthammer could be on this list every year. They are almost always wrong. I have no idea how either of them still have jobs.

My question is: Where is Larry "The economy is just peachy" Kudlow? But I suppose outright lying is different from just making bad predictions.


It is! You can only outright lie if you are a member of congress.

/looking at you, Barney!
 
2008-12-09 10:00:16 PM  
Blink: I'm confused. How could Bill O'Reilly NOT have made the top 10?

Because someone farked up in rehearsal. He'll do it LIVE.
 
2008-12-09 10:14:44 PM  
WFern: Blink: I'm confused. How could Bill O'Reilly NOT have made the top 10?

Because someone farked up in rehearsal. He'll do it LIVE.


i291.photobucket.com
 
2008-12-10 12:17:26 AM  
"Peter writes: 'Should I be worried about Bear Stearns in terms of liquidity and get my money out of there?' No! No! No! Bear Stearns is fine! Do not take your money out. ... Bear Stearns is not in trouble. I mean, if anything they're more likely to be taken over. Don't move your money from Bear! That's just being silly! Don't be silly!" -Jim Cramer, responding to a viewer's e-mail on CNBC's Mad Money, March 11, 2008

Dammmmit I hate it when people don't know what the FARK they are talking about. Peter was talking about deposits and return OF investment, and not the underlying equity and the return ON investment. Cramer was totally 100% right. Peter wasn't asking if he should sell stock, he was asking if he should close his cash account.

I realize that 99.999999999% of people are too stupid to understand this difference, but still....
 
2008-12-10 06:43:19 AM  
Hindsight is 20/20.
 
2008-12-10 09:59:08 AM  
GAS WILL REACH $7.00 PER GALLON BY CHRISTMAS
 
2008-12-10 11:40:16 AM  
Rug Doctor: As much as I hate Bill Kristol -- and I do so very, very much -- I think Cramer should be No. 1. His entire freaking job is to be somewhat less retarded about the economy than the average Joe, and he failed hard...

This.
 
2008-12-10 02:23:06 PM  
I once had the idea of making a site or wiki that would track the predictions of talking heads and keep a tally of the # right/wrong.
I decided to scrap it 1. because of my total lack of weberneticle knowledge 2. I'd die from the giant anuerism this idiocy would produce in my brain within the first 24 hours.

besides pr0n is probably much more lucrative.
 
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