The Wall St. Cheat Sheet notes that CNBC “Mad Money” host Jim Cramer‘s recommendation to his viewers to buy Best Buy stock is now blowing up in his face.
“Enter our circus show friend Jim Cramer. While Jim is busy telling people he’s trying to make them better investors, here he is (again) giving investment advice to use the riskiest tactic in trading. Well, I am sad to say Jim’s ESP was dim, and those who started buying BBY into earnings are now getting slammed. The company missed expectations for margins, and the stock is trading down almost 7% as I write.
“As Jim says in his Stock-Picking Rules to Live By, ‘Just because someone says it on TV doesn’t make it so.'”
Read more here.
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