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:
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Huffington Post | Danny Shea | 04/17/09 05:27 PM