Cramer Wouldn't Take Our Call... : Planet Money Mad Money looks in the mirror.
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Cramer Wouldn't Take Our Call...

But he responded as part of his "Outrage of the Day" segment this week. (Video after the jump.)

I had called CNBC asking to interview Jim Cramer about this academic study that analyzed his stock picks on his show Mad Money.

The conclusion? Cramer got higher returns than the stock market indices, but only by taking on more risk.

The paper has been circulating for a while, but it's now getting published. Anyway, CNBC declined my interview requests. But then, like magic, Cramer starts talking about it on the show.

Cramer, fairly, argues that the show isn't really set up to be numerically picked apart as a portfolio. (He may say buy, but then doesn't necessarily come back and tell people when to sell.) Cramer then goes on to mention the study, and boasts in his self-deprecating way that it concludes he does beat the market.

Cramer says the show is about education. But he neglected to mention the part of the study that talks about how he got those higher returns by taking on more risk. So his success is really not so remarkable.

We've got a story for you about this on Morning Edition tomorrow.