Study: Jim Cramer sucks

Some Northwestern students have done a study on Jim Cramer's stock recommendations on his annoying TV show, Mad Money.

Survey says: Cramer sucks!

Taken together, our results suggest that the aggregate losers in our event study are the Mad Money viewers who decide to buy the recommended securities when the markets open the following day, and that the winners are the market makers and arbitraguers who sell the overpriced recommended stocks on day 1, as well as the traders who sell the recommended stocks on days 2 through 12.

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