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Via Shane Halloran's Weblog:
As a non-American who often looks up American finance-related sites for share ideas, I often hear of this legendary figure in the investing community, Jim Cramer. He is one of the most omnipresent financial gurus in American media. Yet, I’ve done some research on the internet, and it turns out Cramer isn’t as successful as the media would lead you to believe. So I have compiled a collection of reasons why you shouldn’t bother listening to Cramer:
Conclusion Oddly, most of this information has been around for quite a while, but because of the power the likes of CNBC and TheStreet.com wield, perhaps as little as 10% of the small investor community are aware of the shortcomings of Cramer’s advice. Of course, it goes without saying that we are dealing with people’s lifesavings, and these can’t afford to be mismanaged. It’s bad enough when large institutions are crap at not loosing their customers’ money, but at least there is a chance of legal recourse when this happens. It’s much worse when investors try to do a DIY job and make massive losses because of substandard advice, as the media companies are in no way responsible for the advice that they dish out. The lesson? Steer clear of Cramer and other Wall Street posterboys, don’t bother read material from dubious sources (both online and in print) and always get independent, nonpartisan, unbiased financial advice before deciding how to act. Good luck, ~~~~Shane H.
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