TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer spoke at the Financial Times Future of News event in New York City Thursday.
Cramer was interviewed by Ken Fisher, Chairman of Fisher Investments on how fake news impacts markets.
Ken Fisher: Some people's fake news, is somebody else's belief in reality. And, that runs the potential of the risk and concern and fear that fake news moves markets in bad ways... In your mind does fake news move markets at all?
Jim Cramer: It can, because there's concerted effort by some people who want the fake news and can move it quickly. You were kind enough to give them my background. When I first wanted to write about stocks, I went to Jim Michaels at Forbes and I said "Ken Fisher writes about stocks and he's a manager. I want to write about stocks". And he said, "You are a hedge fund manager and you want to write about stocks? You might be in and out of that stock instantly".
I think there are a lot of people who want to be in and out of a stock - in before they break so-called news and out before they get it. And they get away with it. And they get away with it because there is no sensitivity among the press or among the Justice Department that somehow this is a crime.
Watch the full interview on Youtube