During his daily Mad Money Lightening Round Thursday, CNBC host Jim Cramer gave a very positive shoutout to Spotify. "I think it's only a matter of time before subscriptions take over," said Cramer. "This is a good one." But the former hedge fund manager's stock piking track record is mixed.
Mad Money host Jim Cramer posts an accuracy rate of 47%. That's just average, according to an eight year study by CXO Advisory Group.
"At the top of the list is David Nassar, an author of how-to books on day trading, who scored 68% accuracy. However, Nassar's grade is based just on an 18-month period between 2004 and 2006, when he wrote a column for MarketWatch.com (gurus were graded over different periods based on when each was active). In second place, with a 67% accuracy rate, is Jack Schannep, who publishes TheDowTheory.com. He is a technical analyst, which means he forecasts market movements by studying charts and patterns. Ken Fisher, a money manager and Forbescolumnist, comes in third, with a 65% score."