Dear Mr. Market:
It’s that time of year. Everyone has some stinkers in their portfolio and in a taxable account it’s a great time to evaluate whether one should offset that loss by taking some gains on your winners. If you followed any of Jim Cramer’s advice this past year you have some serious evaluating to do! The aim of this article is not a hit piece of Mr. Cramer but simply a word of caution and a reminder that (1) stock picking is often a futile endeavor and (2) If you are indeed going to follow someone’s picks it’s important to track them prior to blindly buying the next set of recommendations.
We begin by refreshing you on an “oldie but goodie” from the Dear Mr. Market archives. Please click here for some background on Jim Cramer and an article we wrote in 2013.
Below you will see a sample of his picks from the beginning of 2021 and how those picks have fared since. Yikes!Continue reading