I am not a big fan of Jim Cramer on CNBC, and really haven't watched the show for years.
However, the broker from JP Morgan that covers my firm for stock trading brought this segment to my attention.
In this piece Cramer discusses how exchange-traded funds (ETF's) have done at least as well, if not better, than picking individual stocks in the financial sector. To a fundamental analyst like Cramer this is painful, since he has made a living on stock picking. But in today's market, as he points out, ETF's are capturing about 90% of the return with less risk than trying to decide on, say, JP Morgan vs. BankAmerica.
It's a longish piece - over 8 minutes - but if you just watch the first half you'll get the idea:
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