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THURSDAY, NOVEMBER 26, 2009
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 OPINION 
1

My 401(k) Proves I Could Do Better Than CNBC

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(Newser) – He may have gotten only a B in economics, but James Rainey, in the Los Angeles Times, says he can be the next CNBC personality. “There’s got to be a spot for me on one of those chatter fests,” he says, because “I’ve out-performed the Dow by more than 100%!” His secret: He sold his stocks and put the proceeds into money markets and bonds.

Maybe Jim Cramer, Larry Kudlow, and company should be as up-front about their results. Show a graph of their portfolios next to the market. If they fall behind, “we vote them right off the CNBC island,” making room for “my timeless, slightly cowardly style of money management.” It’d be worth it just to see Kudlow—who declared the subprime mess finished a year ago—looking for work.

Jim Cramer, host of CNBC's
Jim Cramer, host of CNBC's "Mad Money," talks with Jon Stewart last night.   (AP Photo)
Jim Cramer, host of CNBC's
Jim Cramer, host of CNBC's "Mad Money" show is seen during an interview in front of the New York Stock Exchange, Oct. 3, 2007.   (AP Photo)
CNBC correspondent Tom Costello gives a report from the Nasdaq MarketSite February 22, 2001 in New York's Times Square.
CNBC correspondent Tom Costello gives a report from the Nasdaq MarketSite February 22, 2001 in New York's Times Square.   (Getty Images)
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I've been more confused in recent days by Kudlow, a conservative standard-bearer ... who left Wall Street in disgrace over drugs and drinking before rehabilitating himself on cable TV. - James Rainey

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1 comment
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woody66
Mar 13, 09 2:22 PM CDT
I'm not defending Cramer. His show is goofy but my question to Mr. Rainey is when does he put his money BACK INTO the equity market ? He's avoided a 10% loss this year but may forego a 25% gain next year if the market takes off. In order to judge comparative investment succes you have to agree on what your investment time horizon is, i.e when does the "game" start and end. In my example if it was a two year time horizon he would be down approx 15% net-net. This is why so much of the "stock picking" investment advice is not worth much in my view. There is no agreed investment time horizon and they tell you when to get in but rarely when to get out. Your surest route to investment success is to play the indices (Dow, S&P, Russell, Lehman Brothers etc) to whatever risk level you are comfortable with for your time horizon...invest with a very low overhead non-profit outfit (Vanguard & TIAACREF are two good examples) and stay in for the ride. As you get closer to retirement lower your risk by upping your cash equivalent %. Reply
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