Joel Lovell, who writes a money column for GQ, isn't so sure. Lovell recently confessed in the pages of the WashPost that most of the media's money experts (including himself) don't really have a clue about what people should do with their money. And that's especially true for the CNBC crew:
I'm comforted by the fact that last March, just days before Bear Stearns stock became worthless, Jim Cramer's head nearly exploded off his shoulders, so intense was his conviction that his viewers should NOT. SELL. BEAR. But what I don't understand is the hundreds of thousands of people who still tune in every night to hear what he has to say...It's weird and disconcerting that after all that has happened there are still so many experts out there willing to dispense wisdom with utter assuredness, day after day, despite having been so spectacularly wrong in the past.