Can we stipulate that if your fund performed badly this year that someone should take heat? Can we stop coddling and protecting and excusing? Can we for once just look at this as if it is the

NFL

, which somehow had more rigor than peoples' money?

Let me tell you how far from that we are currently. Earlier this week, the

San Francisco Chronicle

published an article under the headline "Vanguard Group Replaces S.F. Fund Adviser." It was about how a $3 billion fund

did not replace

Spare, Kaplan, Bischel & Associates

because of performance.

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Get this. The fund was down 1.4% this year. Spare Kaplan managed 16% of the fund. They were replaced with

Wellington

.

What amazes me is that

Vanguard

refused to say that the performance was subpar. Instead it went out of its way to say that it was just trying to get a better mix of disciplines.

Give me a break!!

It gets worse. Listen to what this spokesman says about the choice: "To portray this as a performance issue is plain wrong," John Woerth said. "The fund performed well. The board is simply looking for a new blend of talents for the advisory firms."

Good grief!! Performed well? That's awful performance. Should people be fired for their performance? How about this honest answer from someone in the game: I know I would be fired. I also know I would do the firing if I were in charge. And I would say I did it because of bad performance.

This morning, I was reading an article in the

New York Daily News

about what a poor job

Ray Rhodes

did coaching the

Green Bay Packers

this year. It is true. He stunk up the joint. If he does it again next year, he should be fired for it. Just like if

Norv Turner

hadn't made the playoffs this year, I would personally have worked to fire him and I am an

Eagles'

fan.

Let's get one thing straight. If you have a manager who thinks he is doing well because he was down 1.4% this year, I want you to do me a favor. I want you to get out a 3 by 5 card and write this down: "Making money is good, losing money is bad."

There, now you have an edge on these guys.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of the original publication, his fund had no positions in any stocks mentioned. His fund often buys and sells securities that are the subject of his columns, both before and after the columns are published, and the positions that his fund takes may change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he invites you to comment on his column at

jjcletters@thestreet.com.