I have said that I like Cramer. In 2004, he bullied me, through his columns, into buying GOOG. Besides that, he lets you into his trading head. He shows you the good, bad and ugly about himself. You can learn more from all that than from all the advice he hands out.
It's the advice that I have a problem with. It's all good advice, to be sure, but there's no way anybody's going to do all that stuff. Not us shlubs who listen to him.
He says, do your homework. Do an hour a week on each stock you own. What is he talking about? I could read balance sheets all day long and I still wouldn't know how to pick stocks.
But I'm sure thousands put in their hours religiously in the vain hope that success will be theirs. Cramer has told them so.
The central fallacy in his whole message is that ordinary people can get rich by doing what he did. As example, he maintains a model portfolio for all paying customers to see. What it shows is that not even he can do what he did.
But I admire and respect him, and I like him. I like his Pennsylvania, aw shucks act. They say he grew up in Wyndmoor, but he's got a South Philly swagger.
I like the way he enjoys everybody calling him moron, and how he calls 'em moron right back.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment