CNBC's Cramer: Job Brings 'A Lot of Death Threats'
Giving financial advice, especially on TV, is more dangerous than you might think.
CNBC ‚ÄúMad Money‚ÄĚ host Jim Cramer appeared on the April 3 ‚ÄúSquawk Box‚ÄĚ and claimed he has received ‚Äúa lot of death threats.‚ÄĚ He blamed it on the way he critiqued certain stocks which triggered angry and sometimes over-the-top emotions.
‚ÄúYou know, look, obviously I‚Äôve had a lot of death threats,‚ÄĚ Cramer said. ‚ÄúThey‚Äôre actual death threats. And, you go to the state police and the state police go to the local police and the local police call the guy and that‚Äôs what you have to do, or you bring suit against them. I‚Äôve had to do a lot of that.‚ÄĚ
Cramer emphasized his active response to anyone who threatened his life.
‚ÄúYou know, the death threats are not cool,‚ÄĚ Cramer said. ‚ÄúYou know, anybody with a death threat, I go after them with everything I have.‚ÄĚ
‚ÄúSquawk Box‚ÄĚ co-anchor Joe Kernan told viewers he had gotten negative feedback also, but was in disbelief that people on the street might act in that manner.
‚ÄúThe ones that are like that, I say, ‚ÄėGod, I hope you‚Äôre on the prison PC or you‚Äôre in your parent‚Äôs basement, hopefully not in
Cramer blamed the spotlight and said that attracted people with a ‚Äústalking personality.‚ÄĚ
‚ÄúThere are people who just go overboard,‚ÄĚ Cramer said. ‚ÄúThey‚Äôre people who stalk [David] Letterman. They are people with a stalking personality and they go after people who are on TV.‚ÄĚ
Cramer and Kernan were discussing the common stock of MEMC Electronic Materials, Inc. (NYSE:WFR) on the show. Cramer used that stock and Garmin Ltd. (NASDAQ:GRMN) as examples of how his criticisms of particular stocks might lead to an extreme emotional response as such as a death threat.
‚ÄúYou own Wafer, WFR; you own MEMC ‚Äď we‚Äôre saying negative things about it, right,‚ÄĚ Cramer said. ‚ÄúThere‚Äôs someone out there saying, 'Wait a second, it‚Äôs not nearly as bad. Garmin ‚Äď wait a second, that Joe just said he doesn‚Äôt like Garmin. Well you know what, I own Garmin, to heck with Joe.‚Äô And that‚Äôs how it spirals.‚ÄĚ
Cramer was much criticized by another stock commentary recently. Just days prior to the Bear Stearns (NYSE:BSC) takeover by JPMorgan Chase (NYSE:JPM), Cramer told his March 11 ‚ÄúMad Money‚ÄĚ audience Bear Stearns was fine and not to move your money from the investment bank. On the news of the takeover on March 17 the JPMorgan was getting Bear Stearns for $2 a share, the stock plummeted over 80 percent at the open of the exchange floor. Cramer clarified his statement to say he mean the bank itself, not its common stock. But he was still lampooned on ‚ÄúThe Daily Show.‚ÄĚ