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

[magic3400]

Cramer is all hat, no cattle...h­e's like a guy that would give you yesterdays lottery ticket then Tivo the drawing so you think you won.

All the gimmicks are just a cover for lack of substance.

'It's the empty vessel that makes the loudest sound" - Confucius

[dylansfan]

Love the analogy.

[Mattatat]

This thread is a microcosm of why my fellow Progressives are in trouble. You're behaving like sheep. Jon Stewart vented on Jim Cramer so you feel you have to pile on also. You don't know jack about finance and the markets but you're ok with piling on this guy. How exactly are you any different from the person that used to bully you when you were young?

[VivaZapata]

it's not about piling on; it's about whether or not one should trust their pensions to the crew at CNBC, those same guys who, starting at 1400, with every 1000 point drop in the DOW kept telling its viewership, "I think we've hit bottom now." Cramer was a big part of that. Is he wrong all of the time? No but often enough that some people could have lost so much of their pension funds that they could never retire, with dignity anyway.

[Mattatat]

How exactly are you trusting your pension to CNBC???????

YES, YOU'RE PILING ON.

Admit you're doing it, step back, re-assess, and return when you know what you're talking about.

[Mattatat]

And the Dow top was 14k, not 1400.

Stop bullying Jim Cramer, and post about finance when you really know the subject.

[diva555]

No, as Cramer suggests, you should do your homework, (one hour each week for each stock you own) and on his show you may get ideas on how to manage your own money, how to avoid pitfalls, understanding the issues of the day such as mortgage derivitaves, credit default swaps, excessive leverage and how they all caused the market to blow up, and that just going out and buying and holding index funds or anything for that matter, and not staying involved, can be injurious to your bank account and retirement account. This is what Cramer proposes that you trust in. Yourself. Learn and be educated about your choices. After Cramer chose not to engage Jon Stewart, everyone has assumed (who doesn't know his show) that he is out to screw people or part of an elaborate CNBC plot. That is riduculous. He advised selling at certain points during the crash which would have saved people money. He did not officially call the bottom like he did correctly in 1987. You are wrong that Cramers advice during the crash would have caused damage...j­ust the opposite.

[diva555]

TUESDAY, MAR 31
Q1 2009 Rating: CNBC's Best in Eight Years
As the economy continues to be the dominant story, daytime viewers are keeping a closer eye on CNBC. The network had its best first quarter since 2001 in Total Viewers (332,000) and the best first quarter since 2007 in A25-54 viewers (96,000). This is for Business Day programming — 5am-7pmET.

During Business Day, CNBC is up 8% year-over-year in Total Viewers and up 16% year-over-year in A25-54 viewers.

[onenation]

How is Cramer worse than Paulson or either FED Chief?

He did call SELL IT ALL in October.

The old FED guy didn't thimk anyone in leadership could do a ponzy. Paulson and the new FED chief are dishonest thieves. Neither has any requirements on the money they put out to their buddy banks.

[jaschrod]

Cramer is always a day late, and a dollar short. By the time he states something worth while, it is to late. People like Peter Schiff are the ones that know ahead of time, and have been correct 98% of the time. No one can be correct 100% of the time when the gov has so much influence.

[Mattatat]

Peter Schiff lost millions for his clients betting foreign markets would do well when the US went into recession. Look it up.

[Mattatat]

Word.

He went on the Today Show and said "sell!".

There is not a single other person on television that had the berries to do the same.

Not one.

[SurrealPumpkin]

And all that selling had nothing to do with the rapid fall in the dow of course.

[VivaZapata]

When I watch CNBC's mouthpieces, I can't understand how those bobble heads are able to come to a complete stop at times. I like it when they get all red faced and utter those squealing sounds. Oh yeah, I trust them to advise me as to what not to do with my pension.

[truthglow]

This guy is either MANIC or on something really BAD!!!

[jaymcb]

I hope it doesn't happen but who else thinks this guy is going to have a heart attack on the air some day?

[HoosierRadical]

Those CNBC hosts are beyond obnoxious. 401k is a joke if your employer does not match your contribution.

[Mattatat]

Thanks for that brilliant insight... gag, barf....

[VivaZapata]

discount this comment due to personal attack

[Dooley50]

I don't trust Cramer, I don't trust CNBC (they just hijacked a show to spin Cramer's points right out from under a guest) as for my investments, doing pretty good. Didn't lose a thing. My 401 is doing well. I never followed these guys advice, never will.
CNBC, Cramer can always say, hey, made a bad call there. They still sit pretty while many just lost their retirement. Thank goodness I never became dependent on this station for my financial advice.

[Mattatat]

That Solin guy lives in another world. If you follow his and Bogle's advice, you're BROKE right now.

Cramer IS RIGHT, index funds are a joke.

And what Michelle said there about Cramer's show being about trading and Bogle about investing is also true. Trading and investing are two VERY different things. They just both use the stock market to achieve their goals.

[jukesgrrl]

Cramer might be right about that one fact, but Cramer is very, very wrong about other aspects of finance. Just get his old articles from New York magazine and you can see how many astoundingly stupid things he's said in recent years. I still can't believe no one's yet sued MSNBC over some of Cramer's claims.

[Counterglow]

A lot of small investors who followed Cramer's advice on CNBC are broke as a direct result of doing what he told them to. I don't know what he told people who had serious money...pr­ivately. That one infomercial sort of thing where he admitted to breaking the law comes to mind.

[Mattatat]

How can anyone hope to take you seriously when you can't even correctly identify the network he's on?

[Marcospinelli]

It's not true that index funds have been flat for the last ten years. They went up consistently until late 2007, when the Dow topped out at a little over 14,000. They follow the stock market.

Cramer brand is a ruined brand at this point. His career is over, it's just a matter of time, and short time at that. People want and need solid, steady and sure to invest their money, not crazy and volatile like Cramer. He's a loose nuke.

[logologic]

Has anyone noticed that the craziness that comes out of Cramer's mouth is kind of like the craziness that sometimes came out of Kramer's mouth on Seinfeld?

Also, the way Cramer gets all worked up over little things reminds me of how Kramer would get all excited.

Are people really to take advice from this guy?

[petef59]

Bigger, louder ,taller, fatter (and anti-union, anti-worker) means you are a leader. Everything that is wrong with our shallow modern ethos.

[amberrod]

well stated petef59. I encounter these bigger, louder...a­nti-union types all the time in my world. There seems to be a perverse pride on their part in being as negative, mean, bitter, and sometimes cruel. It makes me think of the U2 song, "One" with the lyric, "You act like you never had love and you want me to go without."

[diva555]

Except that Cramer isn't anti-union or anti worker. His father was a union man. And Cramer is a Democrat. There is so much misinformation going on about Cramer and the vitriol toward him, reminds me (in reverse) of the circle jerk going on about Susan Boyle being the greatest singer in the history of the universe and that God has sent her to punish us for all the bad music that exists (all music that isnt Susan Boyle) as his special angel. Excuse me while I barf.

[Pip1860]

I can spot a liar very easily....­.BOO YAAA!

[mcantwell]

I don't understand why CNBC keeps this guy around.

[NickConrad]

Thous shalt trust no other than me, for I am a jealous Cramer.

[anewearth]

Good one!

He effectively has his own reality show, scripted by him and starred in by him, and he needs publicity--for his show and his books.

Sad, but I know people without market savvy who do buy his books. (They are also very emotional, come to think of it.)