Cramer - Barrons Cover Boy
Stocky wonders how many copies of Barrons walked away from the newstands with Media whore/stock guru Jim Cramer on the cover. Stocky give the Cramer article 2 cuervo gold thumbs up.
With careful analysis applied to Cramers stock picks you find out that you’re better off just investing in an index fund. Mr. Stock Market Idiot Savant turns out to be more Idiot than Savant.
The folks at CNBC did some serious backpeddaling when confronted with the facts of the poor performance of Jimmie’s picks.
CNBC officials also said that viewers should buy Cramer’s picks a week after they’re aired. They said that the show is mainly educational, and not just about stock-picking. In the end, they said we should focus only on the tiny universe of stock selections — about 12 a week — that Cramer researches the most.
12 stocks a week????? He does 5 hours of TV a week and manically yells and screams about hundreds of stocks. Viewers are only supposed to listen to 2 stock picks a show???
What about Jim’s favorite and most hyped segment of the show, the lightning round. Cramer no longer destroys chairs at the begining of each segment but he clearly revels in showing off his supposedly encyclopedic knowledge of thousands of stocks and dispensing buy + sell recomendations on nearly every one.
But wait. Now we find out that all that yelling about buying + selling should be ignored. The Barrons piece looks at his latest book about his Mad Money TV show and it’s description of how to use the lightning round segement.
He writes that, by definition, Lightning Round recommendations are based on his previous knowledge of the stocks, not on fresh research. Yet he doesn’t tell his viewers to ignore the call-in segment’s Buys and Sells, concluding: “I still think you should listen to what I’m saying.”
Huh??
Should we just fast forward through the lightning round (does anyone watch TV live anymore) like we do the commercials or not? CNBC would have to agree with that according to their 12 stocks a week statement. But what about Cramer?
Luckily, last night, in his first show after the Barrons issue he addresses the subject. After several veiled references to “partners” being biased (Vast right wing conspiracy anyone?) he finally gets to the lightning round.
Immediately after explaining the “rules” of the Lightning Round (You give me a stock, I tell you to buy or sell …) Cramer starts whining about the Barrons piece. He ends the whine by saying that his LR picks are “not based on as detailed analysis as the rest of the show” and he’s “just trying to point you to Best of Breed.”
Wait, what was that about “buy or sell”. Cramer even flip flops when describing the rules to a segment where he spends most of his time flip flopping.
With commercials on each end the LR took 17 minutes. Thats 34 clicks of the Tivo 30 second skip.
For all you Cramer lemmings, Stocky has just saved you 17 minutes a day. You’re welcome.