Following yesterday’s Barron’s vs. CNBC battle over Mad Money’s Jim Cramer, Clusterstock.com’s Henry Blodget has some advice for both sides.
“Jim Cramer is smart. He’s entertaining. He’s provocative. He’s interesting. He’s a one-of-a-kind,” writes Blodget. “In short, he’s a brilliant market commentator. And that’s all he has to be to be popular with viewers and a major asset to CNBC. So it’s time the network stopped pretending that he’s also something else.”
While he’s popular (and probably helps magazine sales), Blodget writes, “Do Cramer’s picks actually underperform? Probably. Most of the evidence I’ve seen makes a persuasive case that they do (including the Barrons’ article).”
So Blodget’s advice to CNBC for future inquiries about underperforming Cramer stock choices: “Jim Cramer is the most-watched market commentator in the history of the world. Viewers love his energy, insight, and experience, and we’re thrilled to have him on CNBC.”