Marketwatch columnist Frank Barnako disagrees with fellow columnist Jon Friedman, who wrote last week that CNBC’s Jim Cramer was an embarrassment.
Barnako wrote, “Friedman says ‘shame’ on Cramer for putting some life into Mad Money. Sure, the creator of the Booyah Bear sometimes sounds like a barker on a carnival midway, but who’s he hurting? You’d prefer he slobbers all over some tie-wearing, options-postdating, private-jet flying, stock-hyping, financial results restating CEO?
“At least one analysis shows that over the last year, of you could possibly keep up with Cramer’s recommendations, you’d be up about a percent and a half. In the same period, the Dow’s ahead about 2 percent, NASDAQ is down 4%. Cramer could be making money for you. He is for CNBC.
“Which, by the way, is kind of the point. Recent ratings show his audience at 9pm eastern, in the 25-54 demographic, beats Glenn Beck on Headline News. That’s not too shabby, although the inventive Beck is still getting his TV legs after about six weeks on air.”