Well, we have an auspicious start to Cramer's long oil call - XOI, OIX, OSX, XLE down around 2%. Lets see what the rest of the week will bring. Expecting Forbes to have written his newsletter is like expecting George W. Bush of having written his speeches. You'd be lucky if he can pronounce 'nukular'
Fooled by Randomness He pretty much bashes the entire business and investment industry dismissing them as benefactors of randomness that stand out due solely to survivorshop bias. Start with a pool of 10000 managers and flip a coin, heads they win 100% a year, tails they lose 100% a year. Repeat this process 5 years in a row and there will still be 312 managers with a perfect (500%) track record and the rest will have failed and left the industry. Someone looks at their perfect track record and thinks they are bad-asses but in fact their chances of success are still 50%.
================= Watch him frequently , but not all the time; agree with him some, for example he likes Investors business Daily, both of them want you doing your own research. Also he is fun like Jed Clampett, then one day he was shootin'at some food; up from the ground came a bubling crude [oil-texas tea companys, but Jed kept his used truck] Actually last time I saw Cramer,M-Money as a matter of public record; he is wildly bullish on Plum Creek,WY,GP. Timber shortage he figures; he hit the bull horn button there , but didnt like lumber futures.