Meet Jim Cramer.
CNBC features him as an expert on investing.
He frequently recommends individual stocks.
Meet a U.S. coin.
No one believes it has any insight into the future price of stocks.
Should you rely on Cramer or toss a coin to tell you whether to buy a stock?
One study calculated Cramer’s accuracy percentage at 46.8%, based on 62 forecasts.
Your odds would have improved if you simply tossed a coin.
Maybe CNBC should feature the results of a coin toss as a basis for making stock recommendations.
It might be just as entertaining.
It could also be more accurate.