Cramer: "Let the Math, Not the Manager, Do the Talking&
Enviado: 5/1/2004 16:46Bem ao seu estilo, Cramer critica a CNBC por colocar a falar gestores de fundos que tiveram um grande 2003 mas cujos resultados no "bear market" foram desastrosos...
"Let the Math, Not the Manager, Do the Talking"
By James J. Cramer
01/05/2004 10:34 AM EST
"No free passes in 2004. I mean, why should it be any different from any other year?
Let's start with this Paul Cook character from Munder. CNBC's "Squawk Box" put him on this morning. I work for CNBC, so you could say I take my life in my hands any time I scrutinize anyone who comes on.
But I always take my life in my hands; the moment I stop doing it, I should step down from television, radio and just about every other public forum I have.
Cook was up 68% last year. Big deal. From now on, crummy managers, defined by me as managers who play no defense in bad times, will get graded strictly by incorporating previous years. That's what has to happen if there is any accountability in this world.
How did Cook do? If you had given him $100 in 2000, he would have turned it into $22 even after his last year.
If you had given him $100 in 2001, he would have turned it into $48 even after his last year.
Would you put that man on television?
I wouldn't, and I won't, because he doesn't deserve it. Because it is a tacit endorsement of his "work," which, frankly, looks like that of a rank amateur.
You see, we don't need to have a BCS system or a wild-card system to decide who should get on the air. We simply have to do the math.
Or, actually, the arithmetic.
Sorry, Paul, no free passes. "
(in www.realmoney.com)
"Let the Math, Not the Manager, Do the Talking"
By James J. Cramer
01/05/2004 10:34 AM EST
"No free passes in 2004. I mean, why should it be any different from any other year?
Let's start with this Paul Cook character from Munder. CNBC's "Squawk Box" put him on this morning. I work for CNBC, so you could say I take my life in my hands any time I scrutinize anyone who comes on.
But I always take my life in my hands; the moment I stop doing it, I should step down from television, radio and just about every other public forum I have.
Cook was up 68% last year. Big deal. From now on, crummy managers, defined by me as managers who play no defense in bad times, will get graded strictly by incorporating previous years. That's what has to happen if there is any accountability in this world.
How did Cook do? If you had given him $100 in 2000, he would have turned it into $22 even after his last year.
If you had given him $100 in 2001, he would have turned it into $48 even after his last year.
Would you put that man on television?
I wouldn't, and I won't, because he doesn't deserve it. Because it is a tacit endorsement of his "work," which, frankly, looks like that of a rank amateur.
You see, we don't need to have a BCS system or a wild-card system to decide who should get on the air. We simply have to do the math.
Or, actually, the arithmetic.
Sorry, Paul, no free passes. "
(in www.realmoney.com)