Jim Cramer Flips Out At HuffPost Blogger Dan Solin On CNBC (VIDEO)

Dan Solin, regular HuffPost blogger and author of The Smartest 401k Book You'll Ever Read, appeared on CNBC's "Power Lunch" Friday and challenged the network for its "In Cramer We Trust" slogan.

When asked by CNBC's Brian Schactman about the best ways to save for retirement, Solin said , "One of the things that you could do instead is to give us more 'In Bogle we Trust' and much less 'In Cramer we Trust."

Cramer himself then stormed onto the show's set to defend himself and trash index funds, which Solin was advocating.

"In all due respect, the S&P is flat literally for ten years," Cramer said. "That's Jon Bogle's world. If you were to sell at 11,000 like I told you in September, 10,000 like I told you in December, and then get back in at 6,500, who wins? Is that so bad? Is that worth not trusting in?"

Cramer then got especially heated.

"I've had it with the people who tell me about the index fund," he screamed. "For ten years they've done nothing! For ten years! When do they get called on the carpet? When are they ever wrong? Do we have to wait another ten years? Enough of this! I've said my piece. Happy 20th!"

CNBC celebrated its 20th anniversary Friday by opening and closing the New York Stock Exchange.

Watch Cramer flip out on Solin below:

Watch the whole "Power Lunch" segment:

And, finally, watch the "In Cramer We Trust" promo below:

Comments

[pixy242a]

I've watched (not "followed" ) Cramer on CNBC for a few years. Other than Fast Money which I watch occasionally, the rest of CNBC programming doesn't appeal to me at all. Actually living in Canada, I prefer BNN.

I 'm not sure how they calculate what people win or lose after listening to Cramer. I certainly don't have the means to buy everything he mentions, so how do they know what his listeners are doing.

Bogle's style of investing is not for me. There are different styles of investing. I like trying to figure out the market and researching stocks etc etc, which Cramer does advise if you can get past his style. He has his faults and is certainly not right all the time, but one does not have to watch after all.

[CharlesMac]

What a frickin' hatchet job.

Just take a quick time count. Only 1/4 of the time was Dan not spoken over. Then they asked him a question, wouldn't let him answer it, then said he he hadn't answered the question yet..

The term itself, and the significance of "asset allocation" is not even in those peoples' brains. Asset allocation doesn't make their friends, the Wall Street Casino owners, any profits. Churning your portfolio does.

Cramer's investment method is based on an ability to time, not only the Market, but also sectors in the Market. Impossible by humans who don't possess a working crystal ball..

CNBC and its shills and pimps are solely dedicated to getting your money in the hands of people whose primary goal in life is to get as much of that money into their pockets as they can.

That is the great untold lie.

It is what they do, it is all that they do.

[sposton]

An echo chamber of ignorance.

[lillis33]

Why exactly is Cramer still on? He said on TDS he was wrong and he would try to do better. Has anyone noticed any change??
If he's so sure about everything, then why does he flip out every time someone is doubting him?!

[ron071]

Cramer is a CLOWN and CLOWNS are not to be taken seriously. This man's record dooms any serious consideration of his expertise, or his ethics,. He has been proven to be less than credible long ago. CNBC has a lot to answer for when you look at their on-air shills.

[signwrite]

do we really need yet another story about Cramer flipping out? this is a weekly if not daily thing now.......

[NYCIC]

I dunno know, I find it amusing. Maybe, while in the midst of one of his crazed meltdowns, we'll see him stroke out.

[Ohsherri]

Wow...that was a lot of spit.

[Marmel]

Yay! Cramer gets to wear the asshat again!

Http://twitter.com/marmel
Or here:
http://www.facebook.com/profile.php?id=602736617&ref=profile

[cjt1957]

Crammer is correct. He has the numbers on his side. Solin is advocating a bad investment stratagy...

[Actionman]

the same numbers he gave to all those people that lost their @ss due to his advice?

[serialcoma]

Right or wrong Cramer is an obnoxious Azzw1pe who needs to stop yelling and go get a real job.

[joeyJoJoJunior]

no he's not. The numbers are not on his side.

[dansolin]

It is sad that any investor would believe that the numbers favor Cramer's stock picking "skills." Please see:

http://www.huffingtonpost.com/dan-solin/the-solin-cramer-smackdow_b_188535.html

[Lemeritus]

Can you amplify your stand, cjt1957?

[Bramble8]

Cramer is about to have a major breakdown.

[Actionman]

Cramer made a confession on the daily show he should have kept to himself. Now he is being hammered about it and doesn't know how to retract and save face.

[YeahDonkey]

There was obviously no comedians in the room, or Cramer would have just looked down at his shoes and said he was sorry.

What a pathetic loser

[Michael Gene Sullivan - Huffpost Blogger]

401ks were invented by the Nixon Administration to replace pension funds - which the Markets hated. Slow growth, Treasury bonds did them no good. They wanted the money in play, so poof! The 401k was born.

Capitalists want your money to gamble with. That's it. A 401k is just a trick. You are giving your hard earned money back to your employer so they can gamble with it, and if they lose it, they lose it. If they raid it, they raid it. The selling point, as CNBC so astutely point out, is it's "easy." And Americans love easy.

[clearthinker2008]

Yes, we like easy... what nation of people wants things more difficult. I see this as a constant slam "they want it easy...." How about we have jobs, families, lives. We haven't the time or energy to become experts on politics, finances, and to protest everything.

Americans love easy....so what? it doesn't mean we deserve to get played.

[Sleepyjohns]

If you remain uneducated about where your money is headed and uneducated about what is being done with your hard earned money, then you DO deserve to get played. Absolutely. You don't have to be a rocket scientist to know what's going on with you funds: take a weekend course at the learning annex, pick up a book of 401ks for Dummies, do something! But don't just hand your money over to a "trained someone" and forget about it.

And by the by, I would argue that if you put your money, in whatever form, in the stockmarket you are playing the game so EXPECT to get played.

[gallimaufry03]

Yes but don't 401ks offer investments other than stocks? There are index and bond options as well and these get the same tax breaks as the stock investment options. The growth potential isn't near as hight but it's better than a bank's paltry 1%. Right?

[futate01]

the entire stock market is a fraud. Think about it. Listen to Cramer's words. Buy high, sell low. Can everyone do that, and everyone come out a winner???? Think! Of course NOT! Imagine if we all bought low and we all sold high... where would that money come from? So this means that someone has to loose.

The stock market is not an infinite pot of gold at the end of the financial rainbow. It's finite. There is only so much money--so if I take out more than I put in, someone is going to be left with less.

In Vegas the odds are always in favor of the House. In the Stock Market the odds are always in favor of Wall Steet(house) Think about it. You sit at home and contribute to your 401k, or buy stocks on line or through a broker and then you go about your business. But these people are in the game 24/7 -- do you think they are going to handicap themselves? Are you kidding me? Of course not. They have their hand inside the jar while you are watching from a far. When they buy low and then sell high guess who ends up loosing the difference between the high and low.

The stock marked needs to be chopped back down to it's original intention, and that was buying part ownership into a corporation. A direct investment, not the nonsense money shuffle craps game that is going on today.

[NYCIC]

Co-sign!

[katocat]

Total poser.

This guy just hams it up for the ratings and publicity.

I wouldn't trust him with a penny.

[clearthinker2008]

me either.

[APerspective]

401ks are a scheme to take money out of the hands of working class citizens who otherwise would not make their money available to Wall Street traders - the ones who get lottery sized bonuses. The up side is 100 percent in favor of the invertors and the down side is only now being realized by people who bought the bill of goods.

Now that it has come crashing down maybe a good outcome will be that ordinary people see through the scam - fees, prohibitive penalties to dump their 401k, and loses born by the 401k holder that can never be recouped. Choices like a Roth account could be far better choices for retirements savings if the ridiculous annual contribution cap raised from $5,000 per year to something appropriate to the times, say $50,000. Why is the max contribution set to something that may pay your cell phone bill in 20 years, because the system wants to drive people into 401Ks, I mean put your money into the hands of traders you know where. Or how about changing the tax code to eliminate income tax on interest from savings accounts? I made money on my savings the past 18 month as always. My family and friends are on their way to losing ALL their 401k investment. Bottom line, do not listen to anyone on Wall Street. Instead be an independent thinker about your money and demand better choices from government. And this does not mean privatizing Social Security!

[ron071]

The best advice to give those who have long been duped by the FREE MARKETS LIE is to stop viewing CNBC which is a shill for the Wall St. con men & women. Cramer is but one of many of these frauds. There is much good investment advice available but surely NOT on CNBC.

[PoliSciJunkie]

CNBC, aiming low to become the next FOX Business.