This article is about an exception to a rule – an exception that, I believe, has ceased to be. And so the rule has become stronger, and there is a little less joy in the investing world.
Wade Pfau has written an important book: How Much Can I Spend in Retirement?: A Guide to Investment-Based Retirement Income Strategies. It should be read by not just financial planners, but also all investment advisors who work with individual accounts.
Paul Bolster and Emery Trahan, professors of finance at Northeastern University, were curious about the Mad Money phenomenon, and applied the full force of their analytical powers to a study of Jim Cramer's advice. They published their analysis earlier this year, and it reveals answers to key questions - such as whether Cramer's picks move the market or whether Cramer can legitimately call himself a skillful stock picker.