Couple of you guys mentioned reading Trading With the Enemy , Cramer bashing book. The publisher, Harper Collins recalled all unsold copies Fri. and is destroying all inventory from the first printing. If you have one you're lucky. Probably become a collectors item or maybe Cramer will buy it back,lol.
should clarify, unsold copies means copies in warehouses disributors etc, not copies already in hands of retailers.
I read on thestreet.com that by showing records from the hedge fund´s trading activity they proved that certain trades which are alleged in the book never occured. Based on this and probably some heavy litigation pressure from Cramer, they decided to call it a day.
I remember recently reading a promotional piece for the book about the former employee who was trying to "set the record straight" about Cramer and his hedge fund...I have also read several other books which have essentially destroyed Cramer's reputation...Another individual who I believe has some good insights is Michael Lewis, author of "Liar's Poker", who wrote an interesting editorial on Bloomberg.com several years ago about why he decided not to invest in thestreet.com and become a major partner...Almost everyone in the know has something bad to say about Cramer...The thing that I think is most damaging is that he ran a hedge fund, not a mutual fund and had the ability to escape alot of the transparency not afforded to his mutual fund brethren...It is one thing for Joe Schmoe from Mutual Fund XYZ to go on CNBC and pump his stocks, we basically know how he is positioned because of the mandates for long investments...It is an entirely other ball of wax, when a hedge fund manager is on the program, in the press, and pumping through his own website all day, every day for several years...The guy always knew he had a conflict of interest, but never did a darn thing to limit his chit chat about particular stocks, etc... I hope that I can find this book before it gets recalled and thrown into obscurity...It's about time some more books about the "dark side" of the business make their way to the presses...The amount of fluff and hindsight analysis filling the shelves at my local B&N is sickening...