WHY I WON’T READ JIM CRAMERS “GETTING BACK TO EVEN”

Posted by stocker on December 14, 2009 in Stocks For Dummies | Short Link

This is strictly my opinion and a detail of why I will not be buying “Getting Back To Even” by Jim Cramer:

Jim Cramer is a stock analyst / radio talk show host/ TV show host who has a new book that has just come out titled Getting Back To Even. I am NOT going to buy that book and this is why:

In 2005 Cramer got his own stock market show on CNBC called Mad Money. This show is high energy and it is obviously designed to get people interested in the stock market. His dynamic presentation style made him a favorite with young investors and he sometimes tapes his show from college campuses. None of this is a bad thing but I feel it is more of a stocks for dummies type show than a real serious analysis due to all the shenanigans he has going on.

Mr. Cramer makes a lot of stock predictions, recommendations, and other analysis on his show that is rapid fire. If you don’t watch the show religiously every day, it is unwise to watch it and follow any of his recommendations without viewing previous shows. In fact, it is unwise to buy any stock without doing your own homework first.

As an industry insider with many years of experience though, it can reasonably be assumed that he knows something and that he has a connection or two with people who do. At this point it might be good for you to check out his Wikipedia page that details his life, his history, and much of his professional work.

You will see that toward the bottom of that page are details of some of the major blunders he has made on that show including him totally being blindsided and having no clue that the stock market was going to face a major decline due to the poor economy and credit / debit problems all over the world. He has also recommended people stick with several stocks (Bear Stearns and Wachovia) that have subsequently gone down more than 90% since his recommendation.

As previously mentioned, now he has a new book titled Getting Back To Even and I ask why should anyone buy this book? If you are an investor who has followed Cramers advice, why should you now trust that this time will be different? If you have lost money in this market, and who hasn’t, why should you once again put any faith in what Cramer writes? If he had seen any of this coming in the first place he might have been able to warn people and then they wouldn’t be faced with having to get back to even.

 

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