$10,000 invested with Jim Cramer in 2001 turned into $28,997 by 2020.

The same $10,000 in a free S&P 500 index fund?

$44,957.

Jim Cramer's CNBC Investing Club is TRASH...

But they're still gassing him up.

Wharton School researchers tracked Cramer's Action Alerts PLUS portfolio for over 17 years.

The verdict: 3.38% annualized returns versus the S&P 500's 5.59%.

More volatility. Lower returns. A Sharpe ratio of 0.11 versus the index's 0.24.

You were taking on MORE risk for LESS reward.

But it gets even worse.

From inception through June 2023, cumulative total return: 230%.

The S&P 500 with dividends reinvested: 453%.

From 2016 to 2022, Action Alerts outperformed the market exactly ONCE.

And you were paying $399 a year for the "privilege".

Here's what really bothers me:

CNBC sells this product to retail investors who trust the brand.

Regular people. People without decades of experience to know better.

They watch the flashing lights, the sound effects, the screaming - and assume there's actual substance behind this.

There isn't.

After adjusting for market risk, Cramer's excess return was "essentially zero."

Not alpha. Noise.

And SVB? First Republic?

February 2023: Cramer told viewers to BUY Silicon Valley Bank.

One month later it collapsed.

He called First Republic "a very good bank."

It failed two months after that.

Catastrophic calls on systemically important institutions. Delivered to retail investors with total confidence.

I've spent 45 years in this business. I worked for Peter Lynch. I know what genuine investment analysis looks like.

What CNBC sells is infotainment dressed as financial advice.

The index fund is free.

It outperforms.

Remember that the next time someone tries to sell you a $399 subscription to underperform the market.

Say NO to Cramer and CNBC.