Hello AllAllan Readers:
Although I am neither a stock trader nor a follower of Jim Cramer’s, I’ve been following this blog thread for some time now and am interested in following up on this topic.
I’ve been told by various individuals, including but not limited to Allan Harris, that Cramer’s portfolio does not consistently outperform the stock market. They indicate that he is as much ahead of the market in any given year as he is behind it.
I checked his website and, since I am not willing to pay for his service, I cannot verify these statements.
I’m certainly aware of his popularity and am interested if this is due ONLY to his personality and NOT to his actual ROE performance. If that is the case, that, in my opinion, would be an outrageous circumstance.
Thus, my questions to the readership are:
1) Can anyone else confirm or deny, on the record, that they have followed this portfolio and that it has underperformed (or at least not consistently outperformed) the stock market index returns?
2) Has anyone seen a counter-documentary on this guy from an outside and objective news source or publication of some substance? If so, could you provide a citation?
3) I’m told that FOX is starting its own all-business cable channel soon to compete with CNBC. Can anyone verify this?
4) If #3 above is true, does anyone have any personal internal contacts at FOX with whom we could correspond? It seems that this would be an interesting story.
5) While his portfolio profits, if any, go to charity, can anyone tell me where the revenue from his website are purported to go? If they go to him or to CNBC that would seem to be a significant conflict of interest. What about revenue from sales of books, or DVDs or other materials? Do such revenues, if any, go to charity as well? This would be materially different from TV advertising revenue which we would assume would go to the cable network itself and should- CNBC needs to get its bills paid. But it would be interesting to know if this secondary revenue stream of books, DVDs, etc. went to Cramer personally or to CNBC instead of to charity.
Again, I am neither a fan of Cramer’s nor do I have any economic interest at all in being one of his detractors, but I am somewhat astonished if this is, in fact, a monumental case of the emperor’s having no clothes.
Indeed, if what I’ve been reading here is even remotely true, the emperor seems to not even to know the way to the tailor.
Thanks for your comments,
Professor John Kercheval