"I come out here and try to help people everyday. And I failed to help people. And I own that."
The Tragedy of Jim Cramer
Jim Cramer, the host of CNBC's market analysis TV show "Mad Money," has made a name for himself with his brash personality. He'll loudly rant and tirelessly shout, blast corny sound effects, and — in his heyday — throw stuff around like a toddler having a temper tantrum.
So when he all of a sudden starts crying on national television about Facebook stock, things must be pretty bad — even for a guy whose advice has become so maligned in some circles that there's a whole ETF dedicated to betting against his stock picks.
Cramer was previously all in on Meta-formerly-known-as-Facebook. He's been a consistent advocate for the Mark Zuckerberg-run company, despite its stock continuously plummeting this year following the company's pivot into a janky VR metaverse.
On Thursday morning, its stock went in free-fall. So on that day's broadcast, Cramer got vulnerable.
"Let me say this: I made a mistake here. I was wrong," he said while almost choking on his own words. "I trusted this management team," Cramer continued. "That was ill-advised. The hubris here is extraordinary, and I apologize."
"OK," replied his cohost, awkwardly.
— Watcher.Guru (@WatcherGuru) October 27, 2022
Trust No One
But Cramer's contrition didn't end there. According to him, his key mistake was not trusting himself.
"What did I get wrong? I trusted them, not myself," he said. "For that I regret..." he swallowed a sob.
"I come out here and try to help people everyday," he later added. "And I failed to help people. And I own that."
To be fair, we'd be crying too if we were all in on the colossal train-wreck that Facebook has become.
Honestly, if Zuckerberg had any shame, he should probably be crying on TV, too. But then again, maybe he'll prove all his detractors — even Cramer, now — wrong in the end.