Note to Dan Solin: don’t throw stones at Jim Cramer if he’s within earshot. (Well, not unless you want to inspire some insane ranting.) h/t to The Business Insider for this one:
CNBC had Dan Solin, the author of The Smartest 401k Book You’ll Ever Read on as a guest today. After the host asked him what people could do better to save for retirement, Solin answered:
“One of the things that you could do is to give us more ‘In Bogle we Trust’ and much less ‘In Cramer we Trust’.”
Moments later, Cramer barged on to the set to respond.
“The S&P is flat literally for ten years. That’s Jon Bogle’s world. If you were to sell at 11,000 like I told you in September, 10,000 like I told you in December, and then get back in at 6,500, who wins? Is that so bad? Is that worth not trusting in? I’ve had it with the people who tell me about the index fund. For ten years they’ve done nothing! For ten years! When do they get called on the carpet? When are they ever wrong? Do we have to wait another ten years? Enough of this! I’ve said my piece. Happy 20th!”
BG asks me – why didn’t Cramer come out swinging like this on Jon Stewart’s show? Good question.
Unrelated, but here’s some special “Because It’s Friday” additional linkage – check out this picture Dealbreaker dug up of Lynn Tilton. I bet the eighties were fun.