Financial Fruition has a pretty interesting article on Jim Cramer of CNBC. Cramer probably will not be sending FF a Chirstmas card anytime soon:
Some highlights:
** "Jim Cramer and the ill effects of active trading and preaching to to a world-wide audience. "
** "Yes, Cramer says he is just giving advice to those that have side money and want to dabble in the market, but does he know if that person's portfolio is already overweighted in the sector that he is recommending a buy of a certain stock in that same sector?"
** "One thing I don't think is reflected in Jim's return at the above link, is the commission charges for executed trades, or the short term capital gains one would have to incur on a winning pick"
My take on Cramer? He is really smart BUT mainly a showman and I would be VERY VERY hesitant to take any of his advice. But that said, he is occassionally fun to watch, just don't fall into his short term trading trap.
5 comments:
Thanks for the link! Don't know if I would want a Christmas Card from Mr. Cramer!! :)
Nice gig by Cramer on Foster Friess tonight...
Cramer blows chunks...
The wheel is round, Jimmy...watch yer back. I know you've been there before, but humble pie still tastes the same as it always did.
A couple of things about Cramer's show, you might have missed. I have been following the show for about 9 months and have turned a 31% profit this year with a starting amount of $25000. This 31% factors in all of the broker fees that I paid, as well as the margin fees that I paid on two purchases that I used a little credit on. And if you are worried about paying the gains taxes, STOP!!! Let's see if I make $1000 and have to pay even $400 in taxes, that still means that I made $600 right? What you don't like to make money.
For some interesting insights on Cramer... WWW.Madmoneymachine.com
Great site, get podcast...
I am a novice at investing. I did not understand the market or the games that were being played behind the scenes. After watching Mad Money for the past 7 months, I have a greater understanding of the market.
I took all of my retirement out of my 401K accounts that were drawing near nothing from brokers that said they knew what they were doing and invested the money using an online broker and techniques in Cramer's book.
His advice of understanding your investment goals, reviewing your stocks daily and in my case buying great value stocks that pay high dividends has grown my portfolio over 6% in 6 months.
I don't know of any other program on television that educates investors more than Jim Cramer.
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