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ReutersCramer's picks haven't beaten the market--Barron'sSunday August 19, 6:45 pm ET
NEW YORK (Reuters) - Jim Cramer's stock picks on his nightly CNBC show "Mad Money" haven't beaten the market over the past two years, according to an article in the August 20 edition of Barron's.
Over that period, Cramer's stocks rose 12 percent, compared with a 22 percent rise in the Dow Jones industrial average and a 16 percent rise in the Standard & Poor's 500 index, Barron's said.
The data is based on a record of 1,300 of the CNBC star's buy recommendations compiled by YourMoneyWatch.com, a Web site run by a retired stock analyst and loyal Cramer-watcher, said the report.
The Barron's article adds that it also looked at a database of Cramer's "Mad Money" picks over the last six months, which is maintained by his Web site, TheStreet.com. The data showed his picks were flat to down in relation to the market, according to the Barron's report.
CNBC officials said that viewers should buy Cramer's picks a week after they're aired. They said that the show is mainly educational, and not just about stock-picking, according to the article.
"I've never read a single article that I thought wasn't a massive distortion of what the show's all about," Barron's quoted Jim Cramer as saying.
A spokeswoman for CNBC was not immediately available to comment.
"There is no doubt that Cramer is trying diligently to make you money. His advice is generally smart, his knowledge of individual stocks amazingly detailed," notes the article.
But, the report also warns that credible evidence suggests that the "telestockmeister's" picks aren't beating the market.
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