Cramer’s Bad Advice Strikes Again

The Court Jester of CNBC, Jim Kramer, has once again confused innocent investors.

He’s now trying to convince you that you’re better off owning a mutual fund rather than individual stocks. 

His reasoning?

He claims that if you own more than 12 stocks then you are, in effect, your own mutual fund manager.

C’MON MAN!

This is coming from a guy who failed miserably as a hedge fund manager.

But, surprisingly somehow his clown like performances appear to give him credibility among scores of naïve investors.

For many investors, owning a mutual fund is a good idea, especially if you don’t want to watch the markets.

But to tell your audience that owning 12 or more stocks is similar to you being your own mutual fund is nonsense.

A friend of mine (who happens to own 12 stocks) asked if he should sell some of his stocks based on what Cramer said.

My response:  “You mean to tell me you actually listen to that fool?”

He told me what stocks he owned and was diversified among 6 different sectors of the market.  Utilities, Energy, Healthcare, Telecommunications, Consumer Staples and Commodities.

All of the stocks were well known brand name companies with a consistent history of paying dividends.

He was profitable in most of them but still believed they had upside potential.

And he was right.

The point is, if you’re comfortable with your holdings and the markets aren’t in a crisis why would you listen to the advice of a Wall Street shyster?

Unfortunately, too many people believe what the financial presstitutes say on TV and become victims to their emotions.

Don’t be a victim of the Wall Street predators.

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