Jim Cramer

[calmasahinducow]

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Henry Blodget (lol) has written a bunch of stuff in Slate recently about Jim Cramer.

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Henry Blodget calling out Cramer for being an idiot is the pot calling the kettle. Can you say Investment Banker lackey?

from Wikepedia

"...Blodget's later articles for the magazine focussed on the return limiting actions of individual investors, including listening to analysts and the financial media, and relying on active management such as mutual and hedge funds. Instead, Blodget recommends low fee index investing to capture the broad return, while focussing on reduced portfolio turnover to minimise taxes. This investment strategy is in contrast to his earlier life as an analyst, and one he readily acknowledges throughout his discourse. His Slate articles about investing carry a seven-paragraph disclosure of potential conflicts of interest."

ROFL

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I guess you didn't understand the lol in parentheses; I'm not a Henry Blodget fan either. You picked an awful snippet from Wikipedia though because that sounds like some great financial advice. Low fee indexing and avoiding turnover is exactly what Benjamin Graham and Warren Buffett advocate(d). Go ROFL at them too.

[Evan]

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Henry Blodget (lol) has written a bunch of stuff in Slate recently about Jim Cramer.

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Henry Blodget calling out Cramer for being an idiot is the pot calling the kettle. Can you say Investment Banker lackey?

from Wikepedia

"...Blodget's later articles for the magazine focussed on the return limiting actions of individual investors, including listening to analysts and the financial media, and relying on active management such as mutual and hedge funds. Instead, Blodget recommends low fee index investing to capture the broad return, while focussing on reduced portfolio turnover to minimise taxes. This investment strategy is in contrast to his earlier life as an analyst, and one he readily acknowledges throughout his discourse. His Slate articles about investing carry a seven-paragraph disclosure of potential conflicts of interest."

ROFL

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Did you actually read what you posted there?

[Reckless1der]

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He used to run a very successful hedge fund. He is very rich and started out poor.

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Well his Wikipedia entry supports the contention he started out poor, but I'm not sure how accurate this is. I seem to recall he was rubbing shoulders with Bill Gates and Steve Balmer at Harvard. They used to play a lot of poker together, no joke.

[felson]

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Blodget is a scumbag prick, Cramer is awesome and is coming to my hometown tomorrow to speak and I am [censored] pissed I will miss it. Whether or not his opinions on stocks are profitable, he has the best intentions and should certainly be given credit for making a subject that many regard as dreary into something that is widely entertaining.

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Good intentions or entertainment value don't matter. If someone gives bad investment advice to grandmothers and causes them to lose money, that is offensive.

[Gomez]

He correctly called the Tech crash in 2000.

He also made a good call on Phillip Morris when it looked like lawsuits would bankrupt them.

[Tupacia]

Cramer certainly knows what he's talking about (his hedge fund produced outstanding returns) but like others said, following his picks is a recipe for disaster because of his influence. Watch the show for the entertainment value of it plus the nuggets of gold he drops on abstract topics such as how to evaluate the strength of management and also for his more general thoughts on trends in the economy. DO NOT go buy stock X because Cramer rang the "Bullish" sound on his show.

I also think it's kind of hard to hate Cramer as he strikes me as genuine if a little eccentric. A la Peter Lynch, he walked away from a whole bunch of money to spend more time with his family and he's very self-deprecating (calling his wife the Trading Goddess and openly admitting his gaffes on the show, for instance).

[Ignignokt]

I love Cramer, if only because we agree that the average industry analyst is a moron.

He advocates extensive, ongoing study of every stock you invest in, so his isn't exactly a fly-by-night strategy.

W/R/T tracking the performance of his recommended stocks, he has to recommend so many over the course of a year that the pool is way too broad. Instead, someone should be tracking the stocks he actually buys.

[lapoker17]

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He advocates extensive, ongoing study of every stock you invest in, so his isn't exactly a fly-by-night strategy.

W/R/T tracking the performance of his recommended stocks, he has to recommend so many over the course of a year that the pool is way too broad. Instead, someone should be tracking the stocks he actually buys.


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uhhhhh....

[NNNNOOOOONAN]

didn't read all the rest of the replies but fwiw,

there was an article in Men's Health or something like that where they talked about an experiment they did where they threw darts at a newspaper stock listing and did experimental "play money" investments in those stocks, then followed the advice of Cramer, and 2 other people like him and Cramer was by far the worst performer.

[MicroBob]

Asked my Dad about Cramer and what he thought.

I know nothing about the stock-market or investing but my Dad certainly does and I respect his opinion as he has done extremely well for himself over the past 25-30 yrs or so I guess.
He watches CNBC for god-knows how many hours everyday (even records it when he goes out golfing or whatever) as well as reading, reading, reading.

Anyway, I asked what he thought.
He doesn't follow Cramer religiously or anything, but does believe the guy actually does know what he's talking about more often than not unbelieveably enough.
He also mentioned how much Cramer built himself up from very little as has already been mentioned (conclusion: so he's probably doing something right).

My Dad is fairly particular. So for him to say the guy isn't completely full of it is significant.


My favorite financial-analyst is probably Wayne Rogers when he's on the Fox News Channel.
I'm not a big fan of any of those other guys on the financial shows on Fox. But Wayne Rogers (the guy who played Trapper John on MASH) seems really sharp and I just wish everyone else would shut up so that he could talk more.

Interestingly enough, my Dad and Wayne Rogers live just a few miles from each other in the Destin, FL area (might just be a 2nd home for Rogers though).