Broker Check

Jim Cramer – Is this guy ever right?

Posted on: October 31st, 2014 by Gary Hager

If there ever was a market indicator you could rely on its Jim Cramer. Jim may know individual securities but when it comes to predicting the direction of the market he has almost has a perfect record. He’s always wrong. On the October 13 edition of Mad Money Cramer listed 10 things that had to occur in order for the equity market to move higher. Ten? C’mon, where does he or his researchers come up with this crap? As of today, just a shade over two weeks from his prediction, the equity market is hitting new intraday highs. And I will not let it rest that Suzy Orman and Jim Cramer, during the depths of the market slide in 2008 told everyone on national TV that if you needed money from your stocks over the next five years sell everything now. Of course this turned out to be one of the absolute worst pieces of advice, and one of the best buy signals in the last 30 years. Neither of these pundits have owned up to this.

The opinion(s) expressed are those of Gary Hager and not necessarily those of Lincoln Financial Advisors.