To receive a free full-text email of The Zeitgeist whenever we publish to the website, please sign up here. You’ll get two or three of these emails every week, and your email will not be shared with anyone. Ever.
“I think the idea of getting newer, younger people involved into the stock market who aren’t just brainwashed to put money into index funds is terrific.”
“If you want the market to keep climbing, these ten companies — and many more — need to start taking their cue from Tim Cook and Elon Musk,” Cramer said. “Remember, the size of the price tag matters with this crowd.”
Sometimes you have to work hard to divine the Zeitgeist of the modern age.
And other times the Zeitgeist just walks right up and smacks you with a 2 x 4.
I understand from my exhaustive research (i.e., Wikipedia) that in actual carny lingo, there was no such word as “barker”, that instead the hustlers and grifters who talked you into paying two bits for a glimpse of Zeena the Mind Reader and Molly the Electric Woman were called “talkers”.
Fair enough. To-may-to, to-mah-to. I’m fine with referring to Jim Cramer as a carny talker if you like that better, but there’s a punch to “barker” that really fits the bill here.
Yes, that’s heart throb Tyrone Power in “Nightmare Alley” (1947). Doesn’t end well for him.
Of course this has always been CNBC’s business model and Cramer’s shtick, to be nine parts entertainment for one part financial news/advice, but now we’ve traded the rolled-up shirt sleeves (gotta work hard and do your research!) for a carny barker’s striped suit and cane (hey now, step right up to see the egress!).
I mean … “brainwashed to put money into index funds”? AYFKM?
They’re. Not. Even. Pretending. Anymore.
Or as Rusty put it yesterday, the grift is now the thing. In the age of capital markets as carny show, we are told by barkers like Cramer that this is what a smart investor or management team does … they should look to the grift du jour for their edge.
For years, we’ve been writing that capital markets have been transformed into a political utility, but now it looks like that was just a waypoint in the metamorphic lifecycle. Kinda like the cocoon stage for a moth.
Or, I suppose, the chest-bursting stage for an Alien xenomorph.
Certainly that’s been the experience for value investors.
No, it wasn’t enough for these high-functioning sociopaths to turn capital markets into a political utility.
Today, capital markets are being transformed into a carny show.