why does cramer get so emotional about the market if he's not able to profit personally ?. Makes me kinda wonder if he's really THAT passionate about the market or if its just an act.
Cramer specifically stated that he used different strategies to make money for his hedge fund than what he tells people to do on his show. He did market manipulation. He would short a stock by buying put options and then sell short shares using massive $ 10 million orders to create the illusion that the stock was a POS and thereby causing the retail investor to start selling so that his options made money. The only 2 ideas in his book that can actually make anyone money is sector rotation, but he does not give clear signs on how a normal person can tell what sector is bullish. And # 2, diversification in different sectors so that you don't lose everything if for example you are in financials or tech when these sectors tank.
It is a well know fact that Cramer used every outright illegal/grey area edge he could find. He would go out and buy 20-50k of any 4 letter stock from 10 desks AT THE SAME TIME. Todd would go crazy and apologize as he was pulling your pants down! Cramer never even thought about the courtesy reach around. He would think inviting you to his Christmas party was enough. The guy was bad news back then. Didn't TSCM hire that penny stock dickhead that used to post here? Another reason why real money is worthless.
Money does not make the man. However, usually people with cash have a personality and some charisma about them. Cramer is nothing more then a two bit stock hype. A hedge fund manager? Nope. Just another con-artist during the 80s-90s. At Goldman, he was just a two-bit broker cold calling old ladies. Nothing special.
you must be really naive to repeatedly say cramer was homeless in the 70's. yes, he says he lived in his car for a short time, but during this time, he says he lived in a car so he could afford to keep making trades. fees and minimums were much, much higher in those days. he would be the only "homeless" guy in my town with a brokerage account.
http://www.thestreet.com/funds/smarter/891820.html this tscm article is great. it was written on february 29, 2000 by old jimmy himself. where are those 10 stocks now?? it looks like almost his whole thesis was wrong. most important, this was a week before the tech bubble burst, and he suggest putting all your money in those pigs, haha! lastly, i like the reference to Karl Marx in the middle of the article. i've read he had serious communist/socialist sympathies while at harvard writing for the Crimson.
Cramer has 100 million plus in the bank. Mostly in Munis, CDs, Bonds all that conservative stuff. According to Crammer ' You only get rich once'. And he has..