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Originally Posted by irishjayhawk
Really? How did he "try too hard"? And what could Cramer defend?
(Not really trying to play onside because I know next to nothing about economics.)
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Stewart tries too hard to make himself out to be an expert while also playing the "I'm just a comedian" role if he is ever questioned. On one hand he will admit that there are some very complex financial issues that he doesn't understand, but on the other hand he acts like it is completely ridiculous to place any ounce of blame on American mortgage holders. An issue doesn't get this large and devastating unless many parties are involved and accountable.
Cramer completely pussed out, and I'm not sure why. He could have defended himself by simply saying he has a f'n talk show about stocks and is not Miss Cleo. Hopefully no one is stupid enough to think every individual stock prediction he has will be correct.
Cramer is an extremely intelligent man; the guy went to Harvard Law School, paid for law school by trading his personal account, became a successful journalist while living in his car, and then ran a multi-billion dollar hedge fund before creating a hugely successful brand identity.
His on-air personality is just that...and its easy for Stewart and anyone else to knock his stock-picking ability from where they sit. Try running a show and disclosing all of your opinions on the spot...it can't be easy and plenty of other really smart guys on Wall Street have gotten it wrong (i.e. pretty much everyone except John Paulson and a few others).