Guy Who Told Everyone to Buy Ethereum at $2,900 Lectures Gen Z About $14 Margaritas (Which He Sells)

How has ether been doing since Cramer gave out this advice? In reality, ether has crashed and currently trades at $1,092. If you invested $100 in ethereum when Cramer told you to buy, you currently have about $37 worth of ethereum. But if you’d spent that $100 on margaritas for you and all your friends you’d have had a great fucking time—provided you didn’t go to Cramer’s bar.

What other excellent advice has Cramer doled out recently? The Mad Money host said everyone should buy stock in Netflix on January 3 of this year. Netflix’s stock price was $597 on January 3, down about $100 from its all-time high of $700 just a couple of months earlier.

How’s Netflix’s stock price doing these days? It’s currently trading at about $178. Again, if you skipped the margaritas and invested your money in the things Jim Cramer told you to invest in, the only thing you were saved from was a potential hangover.

Or take the theater chain AMC, which Cramer told people to buy the stock on September 9, 2021. The stock was priced at $35.54 at the time and is currently trading at $12.60.

The list goes on and on when it comes to bad bets Cramer has peddled over the years. In fact, some people have floated a trading strategy called the “inverse Cramer” since he’s had so many bad predictions. And don’t even get us started on the fact that the average student loan debt in the U.S. is around $39,000. That’s over 2,786 margaritas at Cramer’s New York bar.

We’re not saying it’s bad to be frugal. Live your life and spend your money however you want. But every time wealthy baby boomers point to relatively inconsequential expenses—whether it’s avocado toast or margartias—and say that’s why young people have money problems, they’re either lying or they’re dumb.

Baby boomers can’t seem to grasp the idea that they enjoyed incredible economic benefits tailored to their personal growth and existence in the second half of the 20th century. And if they haven’t figured it out by now, they’ll never get it. You didn’t accumulate wealthy because you’re particularly frugal and a genius. You had plenty of societal support along the way, whether you want to admit it or not.