an FYI… Jim Cramer believes that there is always a bull market somewhere, and he wants to help you find it. Cramer is host of CNBC’s “Mad Money” featuring lively guest interviews, viewer calls and, most importantly, the unmatched, fiery opinions of Cramer himself. He serves as the viewer’s personal guide through the confusing jungle of Wall Street investing, navigating through both opportunities and pitfalls with one goal in mind – to help them make money. Cramer is markets commentator for TheStreet.com, a multimedia provider of financial commentary, analysis and news, which Jim co-founded and of which is he is the largest shareholder. In addition to writing a column for TheStreet.com, Cramer also serves as the “Bottom Line” columnist for New York magazine. He graduated from Harvard College where he was President and Editor-in-Chief of the prestigious daily The Harvard Crimson. After graduation he became a reporter for the Tallahassee Democrat and later for the Los Angeles Herald Examiner where he covered stories ranging from homicides to sporting events. Cramer is a former hedge fund manager and founder/owner and Senior Partner of Cramer Berkowitz. Jim compounded rate of return of 24% after all fees for 15 years at Cramer Berkowitz. He retired from his hedge fund in 2001, where he finished with one of the best records in the business, including having a plus 36% year in 2000. He helped Steve Brill launch American Lawyer magazine before attending Harvard Law School and earned a law degree. Upon graduating and passing the New York State Bar Examination and being admitted to the NY State Bar, Cramer joined Goldman Sachs in sales and trading. While at Goldman, Cramer wrote for The New Republic about stock market issues. In December 2006, he published his latest book, Mad Money: Watch TV, Get Rich, which is a user’s guide to making the most of his CNBC program. Cramer is also the author of Stay Mad For Life, Jim Cramer’s RealMoney, Confessions of a Street Addict and You Got Screwed.
He ran a hedge fund, worked at Goldman and went to Harvard? Why have I never heard this before?
You might also be interested to know that he also enjoys spending time eating kittens and stomping on puppies. Feel free to pass it along.
NakedPuts Wrote: ------------------------------------------------------- > He ran a hedge fund, worked at Goldman and went to > Harvard? Why have I never heard this before? I knew all this, but still, he’s just an educated clown in my opinion. Off-course no one can predict such an event, but if this is the case he should refrain from saying " BSC is FINE FINE FINE" … why can’t he just say " Actually I don’t know what’s going to happen at Bear Stearn …" Why is it so hard for people in this business to admit that they don’t know the future… for me watching this guy is nothing different than professional wrestling, the problem is average Joes tend to believe him and act on his advice. Google “Monkey Vs Cramer” and you will find plenty of evidence that CNBC should do the right thing and give the show to the monkey. I have yet to see significant statistical evidence that anyone of the gurus they force-feed us on TV has superior stock picking ability.
i’m pretty sure what he says on TV is different than what he did for a living back then.
I saw an interview with him and he said that he was passed on a job at the NY DA office because his grades weren’t high enough. The guy who passed on him was Rudy Giuliani. He then mentioned that he went to wall street and was passed on by all the banks except GS who apparently saw something in him. I think he said that he made 600k in his first year at Goldman, this is in the early 80s!!! (not sure of the exact number but I know it was in the hundreds of thousands)
Cramer is good at what he does. At Goldman and later at his hedge fund that meant producing excess returns. On “mad money” and other CBNC shows that means getting good ratings and acting like a clown. enough said? GenY
I don’t watch the show but saw him on Charlie Rose and he’s obviously a very smart guy…I think he probably plays a character on TV and obviously he does well with in (in terms of popularity). I also have a few buddies that read his book and all said it was one of the best finance-related books they’ve red - not at all like his show, I guess.
He also went to harvard with Spitzer, Spitz was also an investor in Cramer’s hedge fund. Cramer = Client #10?
In Cramer’s defense he does put his neck out and make a LOT of calls.
dinesh.sundrani Wrote: ------------------------------------------------------- > an FYI… > > Jim Cramer believes that there is always a bull > market somewhere, and he wants to help you find > it. Cramer is host of CNBC’s “Mad Money” featuring > lively guest interviews, viewer calls and, most > importantly, the unmatched, fiery opinions of > Cramer himself. He serves as the viewer’s personal > guide through the confusing jungle of Wall Street > investing, navigating through both opportunities > and pitfalls with one goal in mind – to help them > make money. > > Cramer is markets commentator for TheStreet.com, a > multimedia provider of financial commentary, > analysis and news, which Jim co-founded and of > which is he is the largest shareholder. In > addition to writing a column for TheStreet.com, > Cramer also serves as the “Bottom Line” columnist > for New York magazine. > > He graduated from Harvard College where he was > President and Editor-in-Chief of the prestigious > daily The Harvard Crimson. After graduation he > became a reporter for the Tallahassee Democrat and > later for the Los Angeles Herald Examiner where he > covered stories ranging from homicides to sporting > events. > > Cramer is a former hedge fund manager and > founder/owner and Senior Partner of Cramer > Berkowitz. Jim compounded rate of return of 24% > after all fees for 15 years at Cramer Berkowitz. > He retired from his hedge fund in 2001, where he > finished with one of the best records in the > business, including having a plus 36% year in > 2000. > > He helped Steve Brill launch American Lawyer > magazine before attending Harvard Law School and > earned a law degree. Upon graduating and passing > the New York State Bar Examination and being > admitted to the NY State Bar, Cramer joined > Goldman Sachs in sales and trading. While at > Goldman, Cramer wrote for The New Republic about > stock market issues. > > In December 2006, he published his latest book, > Mad Money: Watch TV, Get Rich, which is a user’s > guide to making the most of his CNBC program. > Cramer is also the author of Stay Mad For Life, > Jim Cramer’s RealMoney, Confessions of a Street > Addict and You Got Screwed. President George W Bush went to Yale and then HBS. Ran the state of texas and then country for the last 8 yrs. Yep, you are right, the non ivy league mortals should always be in awe of the ivy league immortals…
directly after screaming NO NO NO they show a chart of the BSC stock… now why is that relevant for anyone asking a question about his personal account? What an ass.
NakedPuts Wrote: ------------------------------------------------------- > He ran a hedge fund, worked at Goldman and went to > Harvard? Why have I never heard this before? I have no idea…did you also not know that he was an alkie, homeless, and lived in his car? And no I’m not joking… Cramer prob could’ve made a billion for himself. I don’t know his net worth but I’m 99% sure it’s over 100 Mill, maybe more than that. He gave up the gig b/c of stress, etc…he had a family and they HATED it. He had a nice run (with of course some down months) and is obviously set financially so why not do what you love on TV? Also to whoever said he was mediocre, I don’t think he was…I know he’s had some periods (a few months) where his fund was down a lot but all in all I think he had a nice shop. I think he paid his secretary a few hundred thou a year (200-400k) and he didn’t even know she went to college or not. McPass you call him an ass but why is he an ass, because he was wrong? Did he know it was going to be $2 a share??? I damn sure thought it was going up before Friday…and I think the majority of the street did too.
TPain88 Wrote: ------------------------------------------------------- > NakedPuts Wrote: > -------------------------------------------------- > ----- > > He ran a hedge fund, worked at Goldman and went > to > > Harvard? Why have I never heard this before? > > > I have no idea…did you also not know that he was > an alkie, homeless, and lived in his car? And no > I’m not joking… I’ll admit sarcasm doesn’t come across well on the interwebs, but the above comment by me is sarcastic. Cramer mentions Harvard, Goldman and his hedge fund at last 3 times each per show. > McPass you call him an ass but why is he an ass, > because he was wrong? Did he know it was going to > be $2 a share??? I damn sure thought it was going > up before Friday…and I think the majority of the > street did too. He’s an @ss for claiming he was not talking about the stock ex post facto. If you go to the website you’ll see he clearly had the stock listed as a buy. He was also, of course, dead wrong about the liquidity issue.
mo34 Wrote: ------------------------------------------------------- > NakedPuts Wrote: > -------------------------------------------------- > ----- > > He ran a hedge fund, worked at Goldman and went > to > > Harvard? Why have I never heard this before? > > > I knew all this, but still, he’s just an educated > clown in my opinion. No, he’s a RICH clown. You’re knocking the guy, but he made a lot more money on the market than you or I have. The Harvard thing means nothing, but the fact that he successfully ran a hedge fund does.
I don’t know but I read somewhere that his hedge fund record wasn’t that great. It must have been his last years maybe…
This one is also a good Cramer screw up. Jim Cramer, 2/6/07 whe Countrywide was about $44/share “The conundrum of Countrywide (CFC - Cramer’s Take - Stockpickr - Rating) going up even as another subprime dealer, Mortgage Lenders Network, goes under, may be answered by a simple tenet: The weak hands are going under, leaving the biggest and best to triumph.” “When I pulled up with Angelo Mozilo, the man who built Countrywide – the man who is Countrywide, some would say – we joked about how strong Countrywide’s business is because it has always “modeled” the bad loans better than anyone. One of the mistakes made by the analyst community is believing that any loans that go under could be death to a lender. In truth, the good ones model what will happen under a lot of scenarios, and it is pretty clear that Countrywide has the best models. Always has.” … “That’s why it is going up. That’s why it will continue to go up. That’s why Countrywide is still a buy, despite the problems in housing and the headlines about how bad this business is.”
joemontana Wrote: ------------------------------------------------------- > mo34 Wrote: > -------------------------------------------------- > ----- > > NakedPuts Wrote: > > > -------------------------------------------------- > > > ----- > > > He ran a hedge fund, worked at Goldman and > went > > to > > > Harvard? Why have I never heard this before? > > > > > > I knew all this, but still, he’s just an > educated > > clown in my opinion. > > No, he’s a RICH clown. You’re knocking the guy, > but he made a lot more money on the market than > you or I have. The Harvard thing means nothing, > but the fact that he successfully ran a hedge fund > does. I’m only getting started, watch me… He’s already peaked and making a clown of himself on the way down 
Anyone who goes on TV and makes calls on 20-30 stocks a night is going to make some very stupid decisions…if you put Buffet out there doing a Cramer-style show he would make plenty of bad calls as well. The difference is that WB isn’t arrogant enough to do this, but the fact that Cramer has made some very bad calls doesn’t really speak to his ability as an investor.
Yes and he is remiss is giving such advice on a national TV show. The average viewer is not sophisticated enough to understand this. luke77 Wrote: ------------------------------------------------------- > Anyone who goes on TV and makes calls on 20-30 > stocks a night is going to make some very stupid > decisions…if you put Buffet out there doing a > Cramer-style show he would make plenty of bad > calls as well. > > The difference is that WB isn’t arrogant enough to > do this, but the fact that Cramer has made some > very bad calls doesn’t really speak to his ability > as an investor.