Hedge fund manager rips CNBC’s Cramer in SEC filing

TV personality and online stock tipper Jim Cramer has been sharply criticized by hedge fund manager J. Carlo Cannell, reports Bloomberg.

Cramer hosts CNBC’s Mad Money. He is also a major shareholder, director and co-founder of financial news site TheStreet.

Read: Buffett relies on 29-year-old advisor

In a letter to Cramer, Cannell asks: “To which entity do you ascribe your greater allegiance?” TheStreet is public, and has lost value since the recession. Cannell says it’s because Cramer hasn’t been giving it the attention it needs, Bloomberg reports, adding the hedge fund manager’s “missive was disclosed in an SEC filing yesterday by Cannell Capital LLC.”

Cannell advises Cramer to pick one gig and let the other go.

Read more here.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.