Originally Posted by Thrill.Ride07
Cramer is there to give us investment ideas,
he gives his opiinion. ofcourse hes not 100% right, who knows what is going to happen tomarrow,
he is a better investor than you and i, so before you back talk him remember that.
I dont recommend you blindly take his advice,
but he is right about 70% of the time.
Jim Cramer is right about 55% of the time (Source: http://www.cramerproject.com/stocks.php
While I will give him props that this percentage is actually not bad and that he gives good advice to the beginners, he does deserve to be talked down.
I say this because he REFUSES to take blame when he makes very very bad judgement calls which has happened many times this year. A couple of days before bear sterns went down, he said it was safe. When they went down, he was attacked for his pick and he said, 'Oh, I meant the accounts at Bear Sterns. Those are FDIC insured'.
That's clearly bull****. If you look at his video when he makes the pick, he definitely wasn't saying the accounts at bear were fine, he was saying the company was fine. The fact that he doesn't come out and apologizes infuriates me. I know he can't be right 100% of the time, but he has to be able to say, "my bad" on picks that are just blow ups.