“A lot of times when I was short at my hedge fund ... meaning I needed (a stock) down, I would create a level of activity beforehand that could drive the futures,” said Cramer. “It’s a fun game and it’s a lucrative game.”
In the interview, Cramer said a hedge fund manager’s favorite tactic is to get a rumor about a stock to an unwitting reporter — at the Wall Street Journal or at his current employer, CNBC — and hope that it moves the stock in the direction the manager wants.
Cramer said if a market participant wanted to get shares of a company like RIM lower then he should first get investors “talking about it as if there is something wrong with RIM”.
“It might cost me $15 million or $20 million to knock RIM down but it would be fabulous because it would beleaguer all the moron longs who are also keying on Research in Motion,” said Cramer.
https://www.reuters.com/article/cra...r-manipulation-comments-idUKN2036292620070320
Chart, page-17019
-
- There are more pages in this discussion • 6,448 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)