Cramer Bashing: The one thing I don't like about the Fool
I love The Motley Fool and always have. They helped introduce me to investing and I can't thank them enough for that. In addition, I had the extreme priviledge to intern with them this past year. It was unbelievable and my respect for the company and its employees just shot through the roof. They truly are what they preach-- and members, I can't tell you how hard Fool employees work to provide you with the best member experience possible. It's a special place.
With that being said, there is one thing (and really just one) I don't like: The Cramer bashing.
You see, I have also worked at TheStreet.com and got to meet Cramer and talk with him. First, he is a really nice guy. Even more importantly, he has an unbelievable track record: 24% annual returns after fees for 14 years on Wall Street. No Fool (capital F) can make fun of that.
You can criticize the guy all you want, but he is incredibly talented. He has a great track record, founded a $100 million dollar company, was extremely successful at GS, and was chief editor of the Harvard Crimson (a big deal). The guy still works insane hours and truly loves investing.
Frequently, there are Motley Fool articles that poke fun at Cramer taking a tidbit of one of his shows and running with it. I think The Fool is above that. I think it insults their incredible brand, and I really hope they stop doing it. I understand he is a competitor, but if you want to compare results, do it in an honest way. Pointing to his "CAPS Score," which is calculated through Mad Money picks in a very questionable way. He runs his own newsletter-- wouldn't it make more sense to compare newsletter to newsletter results? Or perhaps his HF results or overall record?
For example, I would not have felt comfortable while I was at TSCM to use any Fool employees CAPS scores as indicative of their investment track record. Now, imagine that you are Cramer and you talk about thousands of stocks every month.. with callers coming in. You tell them to wait five days so they don't buy on a pop (I seriously doubt his CAPS score waits five days). Then, because someone is calling in, when do you close the pick? When another caller happens to call in? There is NO WAY to capture that correctly, which is why he "TrackJimCramer" is a joke. The articles are even worse.
I love The Fool, which is why I really think they are better than this.