Monitoring the 'Mad Money' Madness

I've been mulling over investor complacency for some time now, and Doug Kass' concerns last month heightened my interest in this area.

In case you missed it, Kass penned a piece comparing Jim Cramer to 1980's investment guru Joe Granville: "It is the immediate, frantic and unquestioning manner in which investors/traders respond to [Cramer's] ideas (not the ideas themselves) that is reaching silly proportions, and that has me unnerved, causing me to question whether the response to "Mad Money" is a microcosm of a market that has driven fear and doubt away and is ready for a fall," Kass wrote.

You can read Cramer's response here, but I wanted to see if Kass was correct. I was not disappointed in my hunt for signs of speculative excess.

First Sign: Blind Stock Purchases

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