More On Jim Cramer
After my previous blog on
Obviously my opinion has not changed regarding Cramer. But I realized that Cramer is like a durian. For those who don’t know, the durian is a tropical fruit I loved eating as a child. You won’t find anybody without a strong opinion of it. Fans will call it the king of fruits, while others will call it the stinkiest thing they’ve ever smelled. There are simply no middle-ground opinions.
If I’m blogging negatively about Cramer, some people must be liking him right? I searched and found
I enjoyed the comment thread on Frank’s blog. Jim Cramer certainly has his supporters and detractors. Most enjoyable of all was the comment by Asher Z. Haft of Merdian Capital Group. I always thought I’d remember everything about The Intelligent Investor, until I was humbled by Asher’s comment:
On page 16 it speaks about Jim Cramer and the “spectacular” performance of his favorite picks made in February 2000. The book states “By year-end 2002, 1 of the 10 had already gone bankrupt, and a $10,000 investment spread equally across Cramer’s picks would have lost 94%, leaving you with a grand total of $597.44.
Loyal viewers of the show will often see Jim recommend one stock and a few weeks later chastize the same stock into his “House of Pain”. Jim Cramer’s style is a trader, he works with momentum and has a gift of seeing where the market is going in the short-term period. But investors who are looking to invest in companies that stand the test of time would be better served by staying away from his emotional roller-coaster-like advice.
Related Posts:
- Jim Cramer: You Know You’re A Guru If …
- Mad About Cramer
- Carnival Of Personal Finance 48
- How To Achieve Financial Media Fame?
