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 Lying Money Managers

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Posts : 2725
Join date : 2008-05-13
Location : Central Florida

PostSubject: Lying Money Managers   Mon Jun 13, 2011 9:58 am

The Wall Street Journal recently busted several money managers including CNBC host Jim Cramer for misleading advertising: The managers compared their investment returns, including dividends, to the benchmark S&P 500 Index without dividends.

That's like suggesting I beat you in Monopoly because my net worth (my properties plus my cash) is higher than your net worth but we don't include your cash in the equation. It's a ploy that even my eight-year-old wouldn't fall for. Of course, many people just read the headline; in Cramer's case, "My portfolio is CRUSHING the S&P 500." (When you do a fair calculation, the Journal points out, that "crushing" advantage is worth 0.9 percent. And that's before you pay several hundred dollars for Cramer's newsletter.)

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