Analysts seem mildly excited about thestreet.com's "strong advertising revenue," but they aren't jumping up and down about its valuation. Meanwhile, no one is talking about the biggest single risk-factor at any one company since Martha Stewart Living Omnimedia.
No offense to a lot of talented folks who write for thestreet.com, but most of the company's market capitalization is due to Jim Cramer. Leaving aside the hit-by-a-bus risk, there are some even more specific risks in play here. Brilliant though Jim is, he's also demonstrated a tendency to come close to blowing himself up. Even if he manages to keep himself under control, moreover, the success chart of most popular stock-picking gurus usually resembles that of a typical momentum stock: years of fantastic gains, followed by a horrific crash. Perhaps Cramer's charm will insulate him from this fate. More likely, it won't.
Recent Comments