Jim Cramer’s Advice Slightly Worse Than A Coin Toss?

From The Consumerist:

CXO found that Cramer’s stock market predictions (monitored from 2000 onward) were worse than average and even worse than simply flipping a coin. Cramer’s prognostications fared better than the market averages only 47 percent of the time. Regarding Cramer’s predictions, CXO comments that, “His predictions sometimes swing dramatically from optimistic to pessimistic, and back again, over short periods. It is difficult to infer his guiding valuation theory, if he has one. We wonder whether he tends to be swayed by the arguments of forceful advocates with whom he most recently interacted…He seems more a stream of uncalibrated opinion than a stock market maven.”

The Encore’s Grand Opening

Steve Wynn opened his latest casino in Vegas yesterday and Vegas Rex was there to take pictures and give his review:

There were “Poker” signs in the Encore, so I got excited about seeing their poker room.

When I asked the greeter where the poker room was, she said, “Go down that hallway, walk for about 2 minutes, take a right” … then I stopped her here.

“Wait a minute, are you directing me to the Wynn poker room?” I asked.

“Yes” she said.

“So the Encore doesn’t have one?” I said.

“Well, the Wynn and Encore share a poker room because we consider them the same property” she said.

There you have it folks. Right from the horse’s mouth. You don’t have to believe ME. Even the employees consider Encore a mere extension of Wynn.

Not only that, but when I went to the cage to get fresh Encore chips … I was presented with brand new Wynn chips.

“The Encore and Wynn have the same chips, but these are brand new”, said the cashier.

The chips are exactly the same as the Wynn chips, but I thanked her and took the chips anyway. Hey, at least they are new.

I played some craps, blackjack, and video poker at the new Encore.

You know what?

It was just like playing craps, blackjack, and video poker at the Wynn. I won at craps, lost at blackjack, and after putting a hundred into a $1 VP machine, walked away thirty minutes later with a little over $90. We’ll call that a draw.