WC Varones

Don't lend your hand to raise no flag atop no ship of fools

CNBC talking heads' stock picks suck hard

Last December, CNBC asked eight of its smartest on-air smarty-pants to play a stock-picking game for 2014.

Here are their initial picks (they were allowed to trade during the year; some did and some didn't).

Here's where they stand as of Dec 29: four ahead of the S&P's approximate 15% gain by 7% - 11% each, and three behind the S&P by 18% - 29% each. Oh, and Simon Baker of Baker Asset Management dropped out midway through the year after two of his three picks were absolutely destroyed in the first half. The totals for his picks for the year? -17%, or 32% behind the S&P 500.

The average return of the eight stock-pickers? 6%, or less than half the return of the S&P 500.

Moral of the story: don't get your stock-picking advice from CNBC.

And don't even get me started on Jim Cramer.

1 comments:

Anonymous said...

Is Simon Baker still alive? Is he Keyzer Soze?

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