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Now he tells us
Jim Cramer says buy index funds.
Posted by Alex Tabarrok on December 19, 2007 at 07:10 AM in Economics | Permalink
Comments
I like watching Cramer because it's fun watching a guy who always seems nanoseconds away from having a massive aneurysm. But I never listen to his investment advice. I've been buying index funds since I had money to invest.
It's an odd irony to me that a guy like me who has such an intrinsic (theoretically and emprically founded) acceptance of the EMH ended up working as a long-range forecaster. I may have sold my soul, but I got a very good price for it.
Posted by: bartman at Dec 19, 2007 9:51:20 AM
I worked this past summer in NYC, and towards the end of the summer they updated most of the cabs to be fitted with in-car video and credit card swipers.
But literally every time you got in a cab you were regaled with one or a couple Jim Cramer "Mad Money" spots telling you to sell short or buy long or whatnot. Sure was relaxing after a long day at the office.
Posted by: MJM at Dec 19, 2007 11:19:17 AM
Jim Cramer says buy index funds.
That's no fun. I buy individual stocks and never sell them trying to beat the index funds by buying low and by having even lower expenses that the index funds charge. I do not believe that my skill will give me advantage but that I could just as well beat the index funds through luck and lower expenses as lose to them.
Posted by: Floccina at Dec 19, 2007 1:11:32 PM
Looks like someone will be out of a job soon. (Ahh - the miracle of incentives...)
Posted by: David Zetland at Dec 19, 2007 2:50:53 PM
In a typical US recession, the S&P 500 falls by an average of 28% (I'd post a link to Nouriel Roubini roubini/232729 to back up that statistic, but the anti-spam filter has gotten extremely trigger-happy).
The probability of a recession is estimated at 50% by Alan Greenspan and 75% by John Bogle of Vanguard, among others. Hold off on that index fund.
Posted by: at Dec 19, 2007 3:45:37 PM
Dollar-cost averaging makes those 28%-off stocks look really good.
Posted by: bartman at Dec 19, 2007 11:46:06 PM
As my 14-year-old daughter would say (even in response to Cramer's sage advice), "no duh."
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