Anyone else hear the Burton G. Malkiel interview on Money Talk on Saturday? He ripped into Crammer pretty good.
Link? He's (malkiel) worth listening too.
I cannot find a transcript.
You can find the interview at www.bobbrinker.com but you would have
to pay to hear the interview now. It was on the radio.
He doesn't care much for Crammer. He said one of his students
worked on a paper and said that there was an increase in price of stock
picks recommended by Crammer but people buying the stock the
morning after the recommedation buy the next day buy at a higher
price and the average stock recommendation goes back down after a
couple weeks, so they end up buying high and selling lower.
Malkiel is worth listening to. He recommended more direct
international equity both developed and emerging than I would have
thought. He recommends more than Bogle.
His basic idea is that most of your portfolio should be in low cost and
low turnover indexes. You can play around with some money trying to
beat the market, but it is difficult to do over the long run.