Why Does Anyone Invest with Jim Cramer?
Jim Cramer is a circus clown — a self-proclaimed entertainer. Now, in Randall Lane’s new book The Zeroes, we can all see for the one Zillionth time that Cramer is also a self-centered opportunist (Cf. an altruistic teacher).
In case you hadn’t heard about the “genius” options trader who recorded all his winners and perpetually double-downed on all his losers, former baseball player Lenny Dykstra is back in the jailbird spotlight. This time, in addition to going bankrupt, the mumbling moron is facing some smoking guns which indicate he was receiving payments to plug stocks on Cramer’s TheStreet.com.
“But Dykstra duped Cramer.” Really? Before Cramer added Dykstra to his subscription-based investment advisory service he didn’t ask to see a documented track record? If he did, he would have known Dykstra was a liar. If he didn’t, Cramer was recklessly negligent to those who trusted his endorsements and paid for Dykstra’s advice.
I exposed Cramer’s bullshit last fall when he hypocritically stated his best-selling investment books should not be applied to his own company TheStreet.com (Nasdaq: TSCM). Bill Alpert at Barron’s has done a great job showing Cramer’s track record is the type you need like you need instantaneous combustion in your retirement account.
So, I am left asking, with proof as plain as day that Cramer is nothing but a used car salesman of finance, why does anyone invest with him?
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