Barron’s observes: “By most measures, Jim Cramer did worse than the market, but CNBC and the TV journalist have taken few steps to clarify his exact performance for his show’s growing audience.”
Here are the charts Barron’s uses to make their argument:
An Indian-born economist once explained his personal theory of reincarnation to his graduate economics class. "If you are a good economist, a virtuous economist," he said, "you are reborn as a physicist. But if you are an evil, wicked economist, you are reborn as a sociologist." —Paul Krugman, "Peddling Prosperity: Economic Sense and Nonsense in the Age of Diminished Expectations" (1994, page xi):
With the key FOMC meeting over, key b/c it was their last official comment before QE ends at month end, what do we now have to look forward to in terms of their exit? IF the economy continues to show signs of improvement, the next move won't be an actual policy change, it will be wording, the telegraph by Fed members in speeches topped off by the April FOMC statement that will tell us that rates won't be "exceptionally low" anymore for an "extended period." That's step 1. While the FOMC won't be raising the fed funds rate anytime soon,...
read more »
February 7th, 2009 at 1:42 pm
Barry, this is the same thing as your beloved “media indicator”
What you see as media indicator (albeit in a smaller scale with Cramer), is actually two things:
- Front running by people who knows the broadcast/article is comming
- Fund managers talking their books to media (stock tipping them) so they get other to provide support to their bets.
Barron’s knows this, hence the charts they provide, because THEIR PEOPLE do it too
Front running, insider trading, book talking….pure corruption
That is why one is better off never reading a single commentary or advise if they can’t help themselves but to read it at face value.
February 7th, 2009 at 5:15 pm
I don’t know how anyone could beat the market with those Dorfman caused rules JC goes by.
But not shorting in a market tumble…stupid, but his call to find the bull in the bullshit. Same as I feel sorry for trapped 401Ks that can’t ‘bear it’ short. ~m
February 8th, 2009 at 5:59 pm
On days when Cramer really pumps a stock, and a “pop” in the stock results, there may be a bit of money to be made by shorting right after the pop.