I think one thing that your explanation is missing is that a skilled basketball player has technique. The reason he sinks 50 3 pointers in a row is because he h

I think one thing that your explanation is missing is that a skilled basketball player has technique. The reason he sinks 50 3 pointers in a row is because he has a technique that minimizes variance and muscle memory that allows him to move in a repeatable and predictable way. That's how you tell the difference between someone who is good and someone who is lucky. With the stock market, sometimes you can do the same thing. The reason that Cramer is famous/infamous is because so often the explanation for his stock picks are just trash. It may well be that he's manipulating the market and helping out his friends, or pumping stock he already owns, and actually in private he's a shrewd individual. The character on screen is a blithering idiot 90% of the time. It's not that we think his results are bad, it's that the method he's using to produce those results seems obviously flawed.