We have a myth in the crypto market: Do the opposite of what Jim Cramer predicted and you will become rich!
That means Jim Cramer often mispredicts market movements, but perhaps this isn't obvious. Normally, in the long term the ratio of correct and incorrect predictions will be 50% and 50%, but there is something that makes Jim Cramer's predictions wrong very often, at least the predictions for Bitcoin.
(https://coin-turk.com/wp-content/uploads/2024/01/jim-cramer.jpg) (https://en.coin-turk.com/jim-cramer-predicts-another-weak-year-for-crypto-despite-market-resilience/)
In addition, Jim Cramer is not an ordinary person, he is a millionaire with assets worth about $150M-200M and an income of $5M-12M per year:
"CelebrityNetWorth.com has listed Jim Cramer’s net worth as $150 million since mid-2022. Multiple outlets, including Investopedia and Yahoo Finance, have cited this figure in the time since. An October 2023 post on CAclubindia.com, however, listed Cramer’s net worth a third higher at $200 million.
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Most sources peg Cramer’s CNBC salary at $5 million per year. That figure again seems to trace back to CelebrityNetWorth.com. Interestingly, CAclubindia.com again lists a higher figure — $12 million per year — in its October 2023 post[1]".
Even his wrong prediction is considered an art in his journey to become famous and become a social phenomenon[2]. In the investment community, Jim Cramer's name is probably mentioned more often than the names of some actors and athletes.
At least, I want to try to explain the reason for this anomaly: Why does Jim Cramer often mispredict BTC movements?
- The 1st assumption: Jim Cramer is not an investor, he follows the market through the news and has emotions and opinions like the crowd: often overly optimistic or fearful. Investor extreme optimism creates market peaks, while extreme fear creates market bottoms.
- The 2nd assumption: Jim Cramer follows market sentiment and speaks accordingly to gain the support of viewers, it's not by chance that CNBC pays Jim so much money.
- The 3rd assumption: Jim Cramer understands market sentiment and says the opposite to create something special and get viewers' attention.
- The 4th assumption: Jim Cramer was bribed by Market Maker to manipulate the market. I think this theory smells like a conspiracy theory.
What do you think about this: do you often invest by doing the opposite of Jim Cramer? Why do you think Jim Cramer has the ability to make predictions that are consistently wrong so many times?
[1] Jim Cramer’s net worth: How much does ‘Mad Money’s' stock-picking superhost make? (https://www.thestreet.com/personalities/mad-money-jim-cramer-net-worth)
[2] Jim Cramer and the Art of Being Wrong (https://nymag.com/intelligencer/2023/06/jim-cramer-and-the-art-of-being-wrong.html)
We have a myth in the crypto market: Do the opposite of what Jim Cramer predicted and you will become rich!
That means Jim Cramer often mispredicts market movements, but perhaps this isn't obvious. Normally, in the long term the ratio of correct and incorrect predictions will be 50% and 50%, but there is something that makes Jim Cramer's predictions wrong very often, at least the predictions for Bitcoin.
(https://coin-turk.com/wp-content/uploads/2024/01/jim-cramer.jpg) (https://en.coin-turk.com/jim-cramer-predicts-another-weak-year-for-crypto-despite-market-resilience/)
In addition, Jim Cramer is not an ordinary person, he is a millionaire with assets worth about $150M-200M and an income of $5M-12M per year:
"CelebrityNetWorth.com has listed Jim Cramer’s net worth as $150 million since mid-2022. Multiple outlets, including Investopedia and Yahoo Finance, have cited this figure in the time since. An October 2023 post on CAclubindia.com, however, listed Cramer’s net worth a third higher at $200 million.
~
Most sources peg Cramer’s CNBC salary at $5 million per year. That figure again seems to trace back to CelebrityNetWorth.com. Interestingly, CAclubindia.com again lists a higher figure — $12 million per year — in its October 2023 post[1]".
Even his wrong prediction is considered an art in his journey to become famous and become a social phenomenon[2]. In the investment community, Jim Cramer's name is probably mentioned more often than the names of some actors and athletes.
At least, I want to try to explain the reason for this anomaly: Why does Jim Cramer often mispredict BTC movements?
- The 1st assumption: Jim Cramer is not an investor, he follows the market through the news and has emotions and opinions like the crowd: often overly optimistic or fearful. Investor extreme optimism creates market peaks, while extreme fear creates market bottoms.
- The 2nd assumption: Jim Cramer follows market sentiment and speaks accordingly to gain the support of viewers, it's not by chance that CNBC pays Jim so much money.
- The 3rd assumption: Jim Cramer understands market sentiment and says the opposite to create something special and get viewers' attention.
- The 4th assumption: Jim Cramer was bribed by Market Maker to manipulate the market. I think this theory smells like a conspiracy theory.
What do you think about this: do you often invest by doing the opposite of Jim Cramer? Why do you think Jim Cramer has the ability to make predictions that are consistently wrong so many times?
[1] Jim Cramer’s net worth: How much does ‘Mad Money’s' stock-picking superhost make? (https://www.thestreet.com/personalities/mad-money-jim-cramer-net-worth)
[2] Jim Cramer and the Art of Being Wrong (https://nymag.com/intelligencer/2023/06/jim-cramer-and-the-art-of-being-wrong.html)
predicting bitcoin movements is not easy and is not always 100% correct, usually people predict bitcoin movements 40%-70% right and 60% wrong, but most people predict bitcoin movements by looking for a lot of information, almost the same as Jim Cramer did because that way it's possible people can predict the movement of bitcoin and if it's another way maybe I don't know much and what I know is like what Jim Cramer said... if there is a way other than the above, try sharing it with all members here.