I just finished reading one of Jim Cramer's Books (
You Got Screwed ), and have a few more on reserve at the library. In the book, he spends the first two thirds of the book talking about all of the corruption on Wall Street, and spends the last third giving advice to the reader. After reading the book, it seems that Cramer's words and actions are IMHO not completely consistent.
Quote:
Fortunately, as someone who has seen every trick in the book that the complex of brokerage houses, mutual funds, the media, and the academics have played on you, I know how to get you through the jungle unscathed. I don't have a magic machete, but I have been through the trails and I know the safest ways to go.
|
In this quote and for much of the book, Cramer talks about how brokerage houses, mutual funds,
the media, and the academics collectively screw average investors out of their money. Cramer recognizes the negative effect the media have, yet he remains the
most recognized stock market pundit on the
most mainstream financial news television station (in other words, he is exceptionally influential). Why would he take part in an activity he knows can hurt the average investor? To me, it's like a beer salesman who writes a book about the inherent risks involved with drinking alcohol but continues to promote his product.
DRINK DUFF (responsibly)
I might stop by at the library today and pick up his other books. I'm still interested in how he goes about his stock picking.