Every January, Jimmy Cramer makes predictions for the closing price of the DJIA at the next December 31. Not surprisingly, his predictions over the past few years have been pretty bad.
I decided it was time to take a look and see where he stands on this year's predictions.
The DJIA started the year at 10,717 and Jim predicted the year would end at 12,470. After the big rally we have just had, the DJIA is still way under his target by more than 1,000 points at 11,335. In 2005, Jim predicted a DJIA close at 12,547, which was only off by 1,830 points as the close was 10,717 so maybe he is doing better this year.
Now lets check some highlights:
AIG- Started the year at 68, Jim predicted a close of 90 and trades now at 64.
GM- Started the year at 19, Jim predicted a close of 10 and trades now at 31.
HD- Started the year at 40, Jim predicted a close of 48 and now trades at 35.
IBM- Started the year at 82, Jim predicted a close of 95 and now trades at 79.
INTC- Started the year at 25, Jim predicted a close of 31 and now trades at 18.
MMM- Started the year at 77, Jim predicted a close of 90 and now trades at 71.
MRK- Started the year at 32, Jim predicted a close of 25 and now trades at 39.
PFE- Started the year at 23, Jim predicted a close of 24 and now trades at 27.
WMT- Started the year at 47, Jim predicted a close of 55 and now trades at 45.
XOM- Started the year at 56, Jim predicted a close of 64 and now trades at 68.
The moral of this little excercise, Jimmy is not a guru and don't expect him to be when it comes to "guessing" stocks prices months in advance. The annoying part is he pretends he can and CNBC gives him a forum for it.