Jim Cramer…a circus clown? Well, not quite. But his outbursts do make for some comedic relief at times.
I read an article by Carl Richards (Mr. Richards is a CFP and founder of Prasada Capital) entitled “Ignore Generic Financial Advice (Except This Post)”. It dovetails really well with my blog entry back in May (Should personal finance writers be liable for bad advice?) and got me thinking about the reasons that I started this site.
Mr. Richards kicks things off with the following:
“It is dangerous to mix investing with entertainment. The classic example is thinking that Jim Cramer is your investment adviser rather than some sort of circus clown.”
He makes the case (correctly) that dealing with financial matters is a personal activity. Collecting and reviewing information is very useful; it helps grow your knowledge base. However, you MUST apply it based on your specific circumstances.
The article supports the sites mission to teach principles that help you understand and create your own plans…your very own personal investment strategy, if you will.
Ignore Generic Financial Advice (Except This Post)
Carl Richards – NY Times – July 7, 2010