Now, I never said anything about Jim Cramer, the hugely popular host of Mad Money on CNBC that I’ve come to regret. I never saw him in the same light as a good friend of mine who really thinks highly of Cramer neither. Today, I did a little looking around the net for news and came across this piece: click here.
I was amazed by what he said in this video clip on his take, titled, ‘Pros vs. Joes’. I have to say after viewing this it really got me thinking perhaps I should choose a side now. It does seem like there is line drawn in our minds eye – a virtual line dividing the norms of investing.
What is that? It is a way of thinking. Perhaps it is a line that divides those with the view that the professional money manager knows more and can do better in managing our money vs. the few and mostly unheard of investors advocating the opposite. On other hand you have Cramer who is well known and being the insider explains the fact that it is not right with the status quo. Investor equipped with both time and interest should be actively managing their portfolio.
I was never the inside man when it comes to investing. The media likes to put Goldman Sachs as the definitive insider, BTW, Cramer used to work for them. I’ve never worked for any of the Wall Street investment banks in this area. So, it is perhaps an easy side to pick. My take is if it is only between Wall Street and Main Street, Jim Cramer got it right.
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