How can you possibly follow this guy? His strategy is almost a joke. He advocates the WORST possible way to invest: Averaging down "Buy some @ 85, then at 75, then some at 65." (watch the video) http://www.thestreet.com/story/10435996/1/cramers-mad-money-recap-rate-cut-time.html?puc=newshome This man has ZERO clue how to invest NOR trade. I can't believe they actually still put him on television. The reason I bring this up is because I've seen some respectable traders on here defend him. WHY? HOW? Do you agree with this crap?
I dunno I find him to be entertaining. He's made good picks and he's also made bad picks which is pretty much standard in the trading world. He's basically pitching the old avg down long term investing stuff that most books preach especially the 401K "experts". So I don't quite get why people hate the guy so much, he's just relaying the same old investing advice that is given in mainstream investing books and plus he is more geared towards novice mom and pop traders and not for serious traders.... He's just entertainment so why are people so obsessed with hating the guy...I dont' get it?
His hedge fund results speak for themselves. Although, if you read 'Trading with the Enemy', you will come to find that he ran that fund as a true blue, short term trader and not as the investor he has now chosen to be. If you are a trader, you'd be a fool to follow his advice. If you are trading in a long term retirement account, his advice is more applicable. I think he's entertaining, mostly because he is mentally unstable.
I do have to agree with that. I find myself changing the channel when he gets on one of his stupid rants. I've found him to be particularly entertaining since the bear market began. Bear markets sure do bring a lot of inflated egos back down to earth. Hell a monkey can make money in a bull market so its been entertaining watching these guys struggle and become humbled by the market
His bank account and hedge fund returns were largely the result of doing business the old fasioned way - - trading on insider information. He's admitted as much on camera. Scrounge around youtube, you'll find it there somewhere. Oh yeah, and it helped that his wife who worked at the fund was supposedly a kick-ass trader.
Show me his hf performance. I've never seen it and I don't believe any kind of audited performance numbers exist.