How is it that Jim Cramer thinks he is on some White House enemies list? It is odd how these tools, Limbaugh's and the Cramer's, think so highly of themselves that they are on some enemies list. Narcissism describes the trait of excessive self love, based on self-image or ego. The term is derived from the Greek mythology of Narcissus. Narcissus was a handsome Greek youth who rejected the desperate advances of the nymph Echo. As punishment, he was doomed to fall in love with his own reflection in a pool of water. Well evidently some also fall in love with the sound of their own voice! I wish rush could pass us some of those painkillers from his housekeeper before our heads explode.All the talk that these type of people are out to do good for others is a tall tale. Jim Cramer will be the first to tell you how he is out there fighting for the average guy to help him make money in the market.
"I fight to help viewers and readers make and preserve capital. I fight for their 401(k)s, for their 529s and their IRAs. I fight for their annuities and for their life insurance policies. I fight for their profits, trading and investing. And in this horrible market, I fight to keep their losses to a minimum by having some good dividend-yielding stocks from different sectors, some bonds, some gold and some cash." Jim Cramer
Now Jim is not all bad, but he is still a carnival barker. He is there to get people into the tent, the tent of CNBC. The sheep who tune into his show and blindly buy buy buy get what they deserve. Many have taken enough shots of the cool-aid that they tell you all the great trades they have made. I hope that is the case. But, how hard is it to pick stocks in a raging bull sector and not make money? I have seen so many disingenuous arguments made on Mad Money. One that will always stick out is the great idea to buy an insurance company after Hurricane Katrina. To say they would benefit long term because of increased insurance rates was careless at best. To preach "do your homework" and then to recommend MRH-Montpelier Re is downright irresponsible. Homework aside, the bigger question was why of all the insurance stocks in the universe, did Jim Cramer recommend this turd. I am sure his recommendation helped someone get out of some stock, not sure who.
MRH - Montpelier Re
Someone who is championing themselves to help the average investor would not recommend buying a stock into earnings. One night I remember the great recommendation Jim made of buying Dick's Sporting Goods- DKS. The stock closed a little over $39 and was trading up over $41 in after-hours once it was mentioned on Mad Money. This stock was to have earnings released the next morning before the market opened and should have never been mentioned. The stock closed the next day at $33. If you are out to help the average investor, not recommending stocks the night before an earnings release in the morning would be a nice place to start. All the sellers at $41 that night were happy.The people who have some really good advice and insights for the average and even the above average investors are not people you will see screaming their heads off on TV. They are people that you would feel comfortable in recommending if your parents asked who to listen to or who to read up on. The thought of people my parents age and friends who have really worked hard for their money listening to Jim Cramer get off on hearing his own voice is scary and depressing.
Time is better spent reading books by David Swensen, John Bogle, and Benjamin Graham. Trust me you will be better off and won't need medication to deal with the headache you get from CNBC.
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