Grading market commentators in the media

Harry Domash, who writes a business column in the Santa Cruz Sentinel, has found a wonderful Web site that grades market commentators in the business media. It’s called COX Advisory.

Domash wrote, “CXO tabulates the market forecasts of 31 major market commentators and posts them in its Guru Grades report. The report lists the total number of market forecasts, as well as the number that were essentially right and essentially wrong, for each guru.

“Interestingly, 16 of CXO’s 31 gurus got it wrong more often than they got it right. For example, James Cramer, host of CNBC’s ‘Mad Money’ show, predicted the market direction correctly only 26 times out of 56 tries 46 percent.

“Only five gurus got it right at least 60 percent of the time. Of those, Ken Fisher, with a 69 percent accuracy rating, was the top performer.

“CXO’s Guru Grades, as well as everything else on the site are free, and there’s plenty more worth checking out.”

Fisher, by the way, writes a monthly column for Forbes. He correctly predicted the stock market bubble in tech stocks in 2000 was about to burst.

Read more here.