Wednesday, August 27, 2008

Don Harrold on Cramer's Housing Bottom Call

Thanks to a reader for pointing this out... this is one hilarious 9 minute video. Now, we all make idiotic mistakes, but this one is classic - yesterday Mr. Cramer named 10 reasons housing has bottomed. And 2 years ago he named.... well, 10 reasons housing has bottomed - such as gas prices are heading lower, commodities have topped, etc etc ;)

Classic video - and this is why CNBC, for ALL guests (not just Cramer) needs to show their past history flashing at the bottom of the screen, instead of recycling the same guests with the same "calls" so we can hear the same garbage over and over without any track record posted. It is much easier being a 'pundit' than someone who actually needs to manage money. Just ask Bill Miller over at Legg Mason Value who apparently took Cramer's 2006 call for a bottom in housing to heart and has lost an annualized 10% a year for the past 3 years, topped off by a 34% loss in the past year.

Short pundits. 9 minutes of entertainment, you just cannot find on TV.

Never heard of Don Harrold but I have now. Anyone with Ron Paul on his website is worth a look

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