If you know anything about investing, you've heard of Jim Cramer. He's the loony who hosts Mad Money on CNBC, and is revered as a virtual investing guru by many small investors. And yet, I was shocked to find out by reading Jason Zweig's commentary in Benjamin Graham's 'The Intelligent Investor' that Cramer's record is several notches below stellar, heck several notches below decent even. Well, now a fellow blogger pointed me to this analysis of Cramer's record that shows he's about as accurate as a coin flip! That is, if you made your decisions to buy and sell by tossing a coin, you'd do about the same as you would have under him! (OK, there are some slight caveats, but you get the point).
Folks, Wall Street and the world is full of hype. If you don't train yourself to ask critical questions about the "experts", well, train yourself to get burned!