So I have to admit I have watched Jim on Mad Money for a couple years now and watch his videos on thestreet.com and read his articles on bloggingstocks for about the same amount of time.
His show is humorous and I have said for two years now that the value in Jim was not on individual stocks but on big trends. For example, the natural gas trend, 2008 THE YEAR OF NATURAL GAS.
To Jim's credit, he was among the first to discuss the gravity of the credit crisis and subprime and in all honesty he saved me tens of thousands of dollars in talking about getting out of financials. I was in many of them, Bank of America, Citi, Regions, Wachovia and based on his advice I exited many with gains still in tact or at worst very small losses.
Now to why I say Jim is a joke. All year long and as recently as late last month Jim was touting natural gas and it going to $16. Then oil fell below support and natural gas fell too, to the high $9 range. At this point Jim said these stocks, natural gas stocks, looked like buys and natural gas would bottom at $8.99. Yesterday, natural gas and natural gas stocks plummeted and today Jim says in a video on thestreet.com that natural gas is going to $8 and in the same video, thirty seconds later, says, well, maybe $7.
There comes a point where if you don't know what's going on, just SHUT THE HELL UP! Stop making forecasts. God damn, if you make 50 forecasts, eventually you'll be right.
So the reason why I watched Jim is now gone as he is not even right on the big trends. Will I tune in at somepoint? Yah, but only for laughs and to see him act the clown he is and rip the heads off plastic bears and chew on plastic bulls and yell boo-yah and ski-daddy and see the rest of his comical act. Jim Cramer is no longer credible, he is the freak show act in the back tent of the circus.