'Cause I have to tell you, if I were to do that I would be taken a heck of a lot more seriously than if I were up 16%, as Actions Alerts PLUS was last year.
That's right. Sometimes I feel that we are now in a world where it is better to be wrong and not making money than it is to be right and making money.
It's times like these when I truly do have contempt for the job. How much more fun would it be to, for example, decide I didn't have to read the Toll Brothers (TOL - Get Report) conference call because I knew it was all phony because it's propped up by the Fed? How heavenly would it be to be able to ignore the Berry Pete deal or the Copano deal because they are only figments of Ben's imagination and there will be no more deals once people realize what a farce it all is or the economy gets stronger or he's fired or leaves or whatever.
The Fed fraud/phony stuff makes a total mockery of what I do with my worklife, or at least the way I have done it. Yeah, it is that bad.I don't know any other way to put it. As long as the vast majority of strategists, trigger pullers and behemoth funds subscribe to this uber-Fed-as-all-that-matters theory, my whole attempt to explain why PepsiCo (PEP) is better than Coca-Cola (KO) or that the New York Times (NYT) should be bought or that we could be near the bottom in Millennial Media (MM) or Magnum Hunter (MHR) is a total fool's errand. Tell me I am wrong. Tell me. I'd love to know, because I think the homework still matters and the over-Fed reliance for all decisions is a crutch, not a sign of wisdom. A crutch that one day will disappear and we will realize that the individual homework on individual stocks is, indeed, the way to go. Action Alerts PLUS, which Cramer co-manages as a charitable trust, has no positions in the stocks mentioned.