Outspoken CNBC television host and New York Magazine scribbler Jim Cramer actually took credit for Friday’s Fed cut. In the past few weeks Cramer has garnered some criticism following his now-infamous CNBC meltdown, which is a mini-hit on YouTube.
A Barron’s cover story highlights YourMoneywatch, a site that chronicles the Mad Money man’s clear and unconditional Buy recommendations, noting:
“Over two years, YourMoneyWatch has tracked 1,300 Mad Money picks. It’s this tally that shows Cramer’s stocks lagging behind the Dow and the S&P 500. This year, Cramer’s done better. McGown’s data show his picks up 3.2%, while the S&P is up 2%; the Dow, 4.9%; and the Nasdaq, 3.7%. CNBC says the YourMoneyWatch data, as well that of Cramer’s Mad Money Website, are ‘not authoritative.'”
The article’s author Bill Alpert concludes that in the interest of accountability CNBC should publish a database tracking all of Cramer’s picks since Mad Money went on the air.
— Ron Mwangaguhunga
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