We’re not in the business of making financial recommendations, but CNBC personality Jim Cramer says there’s no bubble coming for the AI sector — which, given his track record, should probably make any AI investors just a bit nervous.
Now that Cramer — whose calls have historically underperformed so much that he inspired an entire phenomenon of people betting against him, called the “Inverse Cramer” effect — has chimed in on the topic, netizens are worried about an imminent collapse.
“Oh god, it’s worse than we thought,” one Reddit user wrote in a tongue-in-cheek post. “The grim reaper of finance has weighed in, the collapse of the global financial system is imminent.”
Cramer has made plenty of disastrous calls over decades. In February 2000, he proclaimed that internet-related companies “are the only ones worth owning right now” — right before the dot-com collapse. In 2012, he bet against stalwarts like HP, Netflix, both of which soared following his sell notice. Hes even been accused of playing a part in the 2008 financial crisis.
Jim Cramer, who famously told people to hold Bear Stearns as the 2008 crash was unfolding, is making another bold prediction on LLM’s and GenAI. If you’re heavily invested in LLM’s and GenAI, this is just another thing to think about as financial shenanigans continue to unfold.
I don’t think Cramer has the requisite skills to understand this.
Weirdly, Wall Street quants do have the requisite skills to understand the tech in detail.
Agreed. Dude is just an entertainer.