Dan Solin writes for The Huffington Post that CNBC “Mad Money” host Jim Cramer‘s talk at the recent Society of American Business Editors and Writers’ conference in New York was full of misstatements, including when he said he was among the “best of the best.”
Solin writes, “If Cramer was really ‘the best of the best,’ he would disclose the puny odds of ‘beating the market’ by relying on his stock and funds picks and those of his colleagues. If you are relying on his advice, you are chasing rainbows. Instead, you should heed the advice of Jonathan Clements, the former personal finance columnist at The Wall Street Journal, who said: ‘It’s the big lie that, repeated often enough, is eventually accepted as truth. You can beat the market. Trounce the averages. Outpace the index. Beat the street. An entire industry strokes this fantasy.’
“It’s your choice. You can follow the bloviating hype of Cramer or the sound research of William F. Sharpe and many others. Which do you think is really ‘the best of the best’?”
Read more here.
