Re: Jim Cramer\'s nephew gives awful advice too
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Let me be clear, I wasn't accusing him of profiteering from his show, he's clearly doing it for fun. The accusations of "pump and dump" activities occurred during the bubble when he was an active hedge fund manager often interviewed on CNBC. One of his employees wrote a tell all book about it, not sure how credible the accusations ended up being.
And I doubt he was one of the best fund managers. I think he had a very good record, beating the market by 5-10% a year. But there are guys out there beating the market by 30% per year for long periods (Joel Greenblatt 20 years 40% per year or Jim Simons).
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24% a year for 12 years after fees would rank him as one of the best. This isn't quite as good as Jim Simons's 35% a year for 18 years on a larger scale, but that wasn't the contention and the difference isn't quite as large as you make it out to be.
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yes, but 24% relative to what? what is his excess return (i.e. subtracting out his benchmark's return)?
i'm not saying he wasn't a great manager, just that he wasn't one of the best.
Barron
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