Friday, March 13, 2009
For Getting the Skinny on Apple Stock Hijinks Alone, BoomTown Hearts Jon Stewart
While the fireworks were great, the most important thing that “The Daily Show” host Jon Stewart elicited out of CNBC’s most famous stock jester, Jim Cramer, was the admission of using the malleable press to float fictional rumors about companies in order to make money on the negative news.
While Cramer at first tried to deny he did it, Stewart had the videotape of the “Mad Money” host talking about the practice, specifically in regards to Apple.
Kind of puts all those Steve-Jobs-Is-Dead-Right-Now rumors from a few months ago into a new light?
While we all know Jobs has been quite ill, grave-dancing rumors written without any serious reporting have also been a troublesome issue, because it was clear greedy short-sellers played a large part in stoking the fear about his immediate demise back then.
