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

[rottnkid]

ehhhh

[HGMercury]

This is pretty much garbage all the way around;

CNBC: They title the segment about investing in 401(k)'s and then state that it's about trading and not investing? WTF, ever since when one trades inside a 401(k)?

Solis: He's full of s$$t about trashing 401(k)'s. I mean, even if one is afraid about dollar cost averaging in equities, one could invest in fixed income funds and get the matching fund and tax deferment advantages. The argument about the uncertainty of future tax code is an empty arguing
point and maybe only valid for people that will redeem 401(k) funds at the top tax brackets, which is not many (average 401(k) account = 2.7T/15M = 180K, which is peanuts for a retirement fund)

Cramer: If he actually suggested selling at 11K or 10K, then it's to his credit, since the market did bottom out at 6K, at which point the consensus was to go back in on a dollar cost averaging basis. I am not sure Cramer expected the bounce back to 8K so quickly. Of course, Cramer loses all his atta-boy's by going into the rant a la Santelli. Oh, well.

Soscia: She was basically right, but then she is selling.

BTW; "in Cramer we trust" is just as presumptuous as what's printed on our currency.

[kmich718]

Well said, however I disagree with your last post. I would never equate, even in any small measure, Cramer and God.

[HGMercury]

Fair enough; I am an atheist, therefore I challenge Cramer's as well as god's omnipotence and interest in us and our presumption of our own importance. But, thank you.

[JamesA1102]

Cramer is really becoming a parody of himself.

[Mustang Sally]

That segment should be renamed "Power Lose your Lunch".

[Marmann]

Oooooooooh, Jimmy. Why don't you share on TV some more trick-of-the-trade rip-offs that the "Feds don't understand"? I wouldn't bet on anything you say, unless betting on how big your ego can get was involved.

[ccsammy]

CRAMER IS A LOON AND CNBC SHOULD REPLACE HIM THE RARTING ON CRamers show is about 100000 nly lowest of any ashow on tv cnbc FIRE+HIM & JIM KEREN, oBama bSHERS

[protagonia]

Perhaps the best way is to leave him right where he is. He will tug that pustule of a network down with him.

Into the sea, with CNBC.

[YouFnPeople]

I see Cramer as a day trader, a scalper. I don't think he understands a thing about serious long-term investment.

[kindGSL]

Right. So why does the station keep him on?

[JScott]

Simple HE MAKES MONEY FOR GENERAL ELECTRIC!!!!!

(and he probably needs the gig)

[Matthew Neal]

Cramer is a good guy. He gives his honest advice and it is up to you to discern whether or not he is right and whether or not it is right for your investment strategy. This ridiculous populist anger at him is so misdirected.

[Mustang Sally]

I see you, Candy and the other paid posters have had the first cup of coffee and are starting to post.

[protagonia]

You hit like a P51 Mustang, Sally.

Well caught.

[rabiddog6708]

Cramner is a too/, a shill for Wall Steet. A cheerleader for the market.

[NevaforLeadership]

Jim Cramer openly bragged on video aired on this site about manipulating the market, with detalis, when he was a hedge-fund manager. Manipulating the market is illegal. The SEC should investigate Jim Cramer for potential securities violations. CNBC should drop him for this reason alone.

So don't tell me he's a good guy giving honest advice. The populist anger against him is not nearly loud enough. Anyone who believes in ethics and decency should be outraged that this man has a show on CNBC.

[kindGSL]

He is clearly engaging in criminal manipulating of the market. That is what his show gives him a platform to do. It is pretty obvious to everyone, so the real question is, why do they keep him on? Why do they pay him to do it?

I don't know.

Q. Why is this guy not being brought up on SEC violations?

It seems like the 'media' is just loaded with government plants who keep the 'conversation' right where the CIA/big media want it to be. Now why would that be?

It seems like Howie Kurtz can't actually criticize the media cover up because it seems like he is a part of it. I don't know this, it is just what it looks like from watching him on TV.

Is it about blackmail?

Do Our Dear Leaders use sex (and probably drugs) to blackmail Our Dear Leaders?

Of course! How else do you explain lock step support for some issues and lock step condemnation of others?

Is it run by the CIA?

The FBI doesn't even seem to investigate it, so how is the media, or people like Howie Kurtz, supposed to?

We have become a trapped and ignorant nation, I think it is because we as a people have lost control of our media.

[ICU1225]

I can also toss a coin in the air, heads I win, tails you loose.

[protagonia]

Well well, defending Iiars and cheats is how you start your weekends, do you?

[CandyUK]

Jim Cramer has spent years trying to educate people to invest their money wisely. Anyone who listened to Real Money or has read his excellent books would know that. On top of that Jim Cramer has been one of the few market analysts with a history of calling out the worst abuses of wall street.

Taking cheap shots at Jim Cramer without offering a viable alternative is wholly unprofessional and unfitting of any politician or media commentator.

In Cramer we do trust!

[jlab]

You are priceless.

[protagonia]

A priceless troII has a price. All paid shills do.

[NevaforLeadership]

Trust him at your own peril.

Anyone who talks a stock up or down, or creates the illusion of trading activity to influence the direction of a stock, as Jim Cramer admitted doing as a hedge-fund manager, cannot be trusted.

A viable alternative would be to take the time to learn about the market yourself, so that you can invest your money wisely without having to resort to advice from ex-traders -- not investment advisors -- such as Jim Cramer.

Remember the words caveat emptor and apply them well to yourself.

[protagonia]

You blew your cover with your last line, Candy.

Oops.

Next!

[katekid]

Cramer's lost it.
He's embarassed, filled with shame.
Roll the video TAPES.

[LisaO8]

Cmer needs to move to Faux - he is becoming a joke just like that network...

[dillydawg]

"Becoming a joke?" He became a joke a long time ago.

[Mustang Sally]

The network is a joke. They should have quietly apologized for the mistaken experiement on their 20th annniversary and turned off the lights.

[lastrefuge]

Cramer's gonna drop dead if he doesn't watch his blood pressure.

[Phong Long]

how convenient of him to say get back in at 6500, which is the exact lowest point of the DIJA in march.

but he's off by a month and 1k. The dow was at 9000 in december.

index funds are great for long term and safety. and for long term, steady modest growth that avoid losses will always perform better than chasing the highs.

[dadw5boys]

Cramer could place himself in peril if he does not shut up.

Cramer also has a pay for advice web site and he tells people who pay for his advice different things than he says in T.V. .

iF HE IS PROMOTIN BUYING A STOCK ON T.V. AND SELLING ON HIS PRIVATE SITE THEN HIS IS GULITY OF COLLUSION ESPICALLY IF HE OWNS THE STOCK.

COLLUSION TO CONTROL THE PRICE OF THE STOCK.

.

[AnonEMous]

CNBC must keep him caged in the backstage area, leting him run out and fling poo before being recaged again.