WELL, TO BE FAIR, THEY’RE READING JOSEPH NOCERA. IN THE NEW YORK TIMES. TigerHawk: Joseph Nocera thinks his readers are idiots.

Amazon is up 10 times since Blodget made the call that Nocera ridicules, or 988% vs. around 200% for the Nasdaq and the Dow, notwithstanding the popping of the Internet bubble in early 2000. I know this in part because I shorted Amazon in 1998 for basically the same reasons that Nocera attacks Tesla now. It was a very useful learning experience for me.

The point, of course, is not to vindicate Henry Blodget or rescue Adam Jones, who is more than capable of defending himself. Indeed, Nocera seems to have justified Jones better than Jones ever could. The next Amazon, you say? Bring. It. On.

But how do you write that column, and how does your editor publish that column, without a whisper of a hint of an acknowledgement that, well, people who acted on their belief in Blodget in 1998 (and had the discipline to maintain their conviction for a few years) are far happier today — or at least wealthier — than people who believed Nocera? We don’t even get a single “to be sure”?

You need to read the NYT so you know what is going on inside the lefty echo chamber, but it is very hard to believe anything on its editorial pages at face value. Otherwise, for example, you would think that Joe Nocera can distinguish a good securities analyst from a bad one.

Well, none of their columnists can tell a good presidential candidate from a bad one, so. . . .