Jon Stewart, take note: Jim Cramer is not that bad at picking stocks, the New York Times reports. A study of Cramer’s televised market advice shows that the former hedge fund manager beat the market in 2005-07. The raw numbers from the fictional “Cramer portfolio” outperformed the S&P and other indices. With the addition of other factors, the CNBC host was merely so-so.
“While Cramer may be entertaining and mesmerizing to many of his viewers,” the study says, “his aggregate or average stock recommendations are neither extraordinarily good nor unusually bad.” (Read more Jim Cramer stories.)