I won't be popular around this forum for saying so, but he contributes two things in the retail investment space which I think are worthwhile, regardless of implementation details: he motivates people to take control of their own money (be it in how to select decent index funds) and he highlights the importance of homework for the DIYers (including not going DIY if you don't have enough time to do it properly). His first retail book Real Money was well structured towards those goals. I too found Confessions Of A Street Addict to be quite entertaining.
That is enough about TST, let's talk Cramer! I like Cramer. I wouldn't follow his calls, but he is entertaining and it is really hard to talk about stocks that people don't fall asleep. I read Confessions... and I liked it a lot, indeed, I want to reread it. 2 things I remember from the book: - He used insider info too - His wife saved his ass/trades several times So he gives credit where credit is due. He is also not a very nice boss, one employee wrote a book about working for him, Trading with the Enemy* is the title. I give credit to Cramer that he recognized that sometimes it is luck or being in the right place at the right time (soaring 90s!!!) and not skill what made him money and he left trading while the going was still good. He also hates Tesla (the company), just like me... "Musk can get away with financial murder." *quote from the book: " "Being a Wall Street insider means getting the news before it's news. With a lot of money and a little effort, the system is easily manipulated. If you believe the everyday investor gets the same level of service as someone like Jim Cramer, you probably should stop trading now... most of Wall Street sees no problem with such discretionary disclosure." (Pg. 91-92) "Jim knew firsthand that it was all too easy to perpetuate the rumor mill for a big hit." (Pg. 128)"
Based on filing single, standard deduction, no children and from the trading income only. My point is the best trader there is still not bringing much home after the additional 20% tst clips and the extra 15.3% SE tax takes.
That is true for Americans. But if we can't increase the profits, what if we drop the cost of living? In most smaller East European cities and in Asia, one single guy can live on 1K per month. So he only has to make 1.5K monthly, and that is doable with even only 3 cars. (10 ES pts per month) There is a reason TST has a special Russian room. For the lazy, here is a tool to play comparisons between cities: http://www.numbeo.com/cost-of-living/ So a family guy from Chicago with 3 kids shouldn't apply, but a Vietnamese single lad can be a happy customer...