What happens if you miss a show? Yesterday I wrote about investment strategist and "Mad Money" host Jim Cramer changing his opinion so swiftly (see: Cramer pumps tech, then hates it days later). I started thinking about the repercussions of missing the second show. Suppose you had seen the show promoting technology stocks last week and missed the show where he did an about face, trashing the sector in the blink of an eye? If you chose to act on last weeks supremely confident push into tech and were still buying when Cramer was telling everyone to dump tech stocks -- that could definitely cost you big!

I oppose rapid fire trading. I oppose short term trading as speculation, not investing. Cramer has every right to change his mind and he is usually honest when it comes to admitting his mistakes. He does get you to think; that's a good thing. And he does have some good ideas given so much experience on Wall Street to share; there is no question about that either. But as time passes his show continues to move more in the direction of entertainment and further from investment guidance. So watch it with that in mind.

Cramer has attracted a strong following. Not only has he started a media empire but he has inspired many websites that are tracking his commentary and stock picks. It is well understood now that a Cramer bump takes effect after he makes a buy recomendation. A new level of sophistication to tracking his picks and pans would be to figure out what happens if you miss a show? What happens if you only watch every other show? What happens if you only watch the first half or the last half? Is it possible to create an algorithm to monitor the time and frequency of Cramer viewing so that you could hedge in favor of better results? Alas, this would this be the unauthorized new "Cramer Hedge Fund" for the 21st century....now I'm being silly....bring me back to earth.

I would like to express my sympathy to all of you investment advisors out there throughout the country and throughout the world perhaps, that each day must now respond to your clients inquiries and comments about what Cramer said. This must be getting old fast. It must be particularly tough when you are trying to help someone establish long term goals and understand issues of portfolio asset allocation and having to repond to daily play-by-play heckling stimulated by a television show.

As for Cramer's recent tech swings, I think he was wrong in both cases. I think the tech sector will be jumping all over the place all year. You should pick companies, not sectors, to invest in.

Check out my other posts for BloggingStocks here. Be sure and read You don't have to be 007 to find the best picks for 2007!

Sheldon Liber is the CEO of a small private investment company and the vice president for design and research at an architecture & planning firm.