Contrived is the word that came to mind this morning when I read
The Wall Street Journal's
article that tried to impute something -- corruption? double-dealing? -- to the
The article's premise, if I can loosely summarize it, was that Motley Fool is doing something wrong or dishonest if it puts its money where its mouth is. Motley Fool analysts own stocks they recommend. Is that really dangerous and duplicitous? Or is that just common sense and
This article is the type of article that drives me crazy because for the life of me, I can't see what Motley Fool is doing wrong. They believe, they have conviction and they disclose. That's a lot more than brokerage houses do. It is honesty writ large. It is what we want. They suffer if we suffer. They get hurt if we get hurt. They make money if we make money. Their interests are our interests. That's how it should be.
The article made it sound like this is an issue that is dogging Motley Fool. Actually, only the
is dogging Motley Fool. Everybody I know who reads the Fool feels darn good about it. Including me.
Forgive my positive rant, but I can only wish that the brokers on Wall Street had the same ethic and tough disclosure that Motley Fool has. Maybe the
should stop training its guns on the Fool and turn them, instead, on an industry that frequently pushes stuff it is long precisely to get out of it at higher prices!
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of 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