Should we take stock market tips from Jim Cramer?

No.

“…if you watch Mad Money and follow Jim Cramerâs top recommendations, you will lose almost one-third of your money in less than two months.”

Via Wait: The Art and Science of Delay:

According to a detailed analysis published in October 2010, viewers who bought the stocks Cramer recommended the previous night lost money relative to the market overall. Even people who held those stocks for as long as fifty days lost an average of nearly 10 percent relative to the market. For those stocks with the highest overnight returns after Cramerâs recommendations, the fifty-day performance was even worse: negative 29.54 percent for the top quintile. In other words, according to this study, if you watch Mad Money and follow Jim Cramerâs top recommendations, you will lose almost one-third of your money in less than two months. Not very many people can afford to follow that kind of advice. The study also found that an investment in the stocks Cramer recommended significantly underperformed the market over the longer term.