Major Controversies Surrounding Jim Cramer: A Detailed Timeline

A closer look at the most debated and controversial moments involving Jim Cramer.

Jim Cramer is a prominent American television personality, author, and former hedge fund manager best known for hosting CNBC's "Mad Money." After graduating from Harvard, he worked at Goldman Sachs before founding his own hedge fund, Cramer Berkowitz. He also co-founded TheStreet.com. Cramer gained widespread recognition for his energetic and often controversial commentary on the stock market and investment strategies. He has authored several books on investing, aiming to provide accessible advice to retail investors. His career blends finance, media, and entertainment, making him a significant figure in financial journalism and popular culture.

Sections (5)

Full Timeline Early Life & Education Career & Achievements Challenges & Struggles Controversies & Scandals

1999: Recommended Investing in Technology Stocks

In January 2000, Jim Cramer recommended investing in technology stocks, suggesting a repeat of the stock performance of 1999.

January 2000: Recommended Investing in Technology Stocks

In January 2000, Jim Cramer recommended investing in technology stocks, suggesting a repeat of the stock performance of 1999.

February 2000: Cramer's Stock Picks

In February 2000, Jim Cramer said he produced a 36% return and highlighted ten stocks he favored: 724 Solutions, Ariba, Digital Island, Exodus Communications, InfoSpace, Inktomi, Mercury Interactive, Sonera, VeriSign, and Veritas Software. He also dismissed the investing strategy of Benjamin Graham and David Dodd.

2000: Performance of Action Alerts PLUS

Between 2002 and May 2009, Jim Cramer stated that his "Action Alerts PLUS" charitable trust outperformed the S&P 500 Index and the Russell 2000 Index. However, the performance was disputed.

2000: Settled Lawsuit with Fox News Channel

In 2000, Jim Cramer and TheStreet settled a lawsuit with Fox News Channel over a show production deal and alleged promotion of TheStreet stock without notice.

August 2001: Study of Charitable Trust Performance

A study by Wharton researchers Jonathan Hartley and Matthew Olson found that in the timeframe of August 2001 to March 2016, Cramer's charitable trust underperformed the S&P 500 primarily as a result of underexposure to market returns in years after the 2008 financial crisis.

2002: Performance of Action Alerts PLUS

Between 2002 and May 2009, Jim Cramer stated that his "Action Alerts PLUS" charitable trust outperformed the S&P 500 Index and the Russell 2000 Index. However, the performance was disputed.

August 20, 2007: Barron's Article on Stock Picks

On August 20, 2007, an article in Barron's stated that Jim Cramer's stock picks had underperformed the market over the past two years.

August 8, 2008: Recommended Investing in Bank Stocks

On August 8, 2008, before the climax of the 2008 financial crisis, Jim Cramer recommended investing in bank stocks, a move that was later heavily criticized.

October 6, 2008: Advised Investors to Remove Money from Stock Market

On October 6, 2008, when the S&P 500 Index was at 1,056, Jim Cramer advised investors to take any money needed for the next five years out of the stock market.

2008: Study of Charitable Trust Performance

February 9, 2009: Wall Street Journal Article on Trading Against Cramer

On February 9, 2009, an article in The Wall Street Journal indicated that historically, trading against Jim Cramer's Buy recommendations using short-term options had yielded 25% in a month.

March 2009: Interview on The Daily Show

In March 2009, Jim Cramer was interviewed by Jon Stewart on The Daily Show, contributing to the Jon Stewart-Jim Cramer conflict.

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May 2009: Performance of Action Alerts PLUS

Between 2002 and May 2009, Jim Cramer stated that his "Action Alerts PLUS" charitable trust outperformed the S&P 500 Index and the Russell 2000 Index. However, the performance was disputed.

March 2016: Study of Charitable Trust Performance

March 31, 2016: Cumulative Return of Cramer's Trust

As of March 31, 2016, Jim Cramer's trust since inception had a cumulative return of 64.5%, while the S&P 500 returned 70% during the same timeframe. Wharton finance professor Robert Stambaugh stated that the findings didn't show significant underperformance when adjusting for a variety of factors.