Friday, September 12, 2008
As many of you know, I've elected Cramer to my Hall of Idiots. This guy is like the gift that keeps on giving, the funny thing is that he still has credibility. CNBC hasn't pulled his show despite the fact that he is wrong more often than right, ratings are the name of the game. As long as people tune in to watch this train wreck (perhaps that is the allure) he will continue to make a ton of money while pushing financial dope.
Just so you know that my dislike of him is based on fact, not professional jealousy (Yes, I dream of having my own show on CNBC - of course it couldn't be as popular because its hard to make buy and hold entertaining!) I've posted a few links to show that following Cramer's picks won't make you money (unless perhaps you short them):
Cramer Short Selling
Please understand I am not recommending you short sell Cramer picks.....this is purely educational. Repeat after me, " Buy and Holding a Diversified portfolio for the long term works."
Scott Dauenhauer, CFP, MSFP, AIF