SEC ALERT* Cramer Show Insider Leak....

I remember back in March 2005, when I first saw his show. I couldn't believe what I was seeing. I never would have thought such a show would be allowed to be on TV, as it seemed to me to be a train wreck waiting to happen. I do think it would be wise to hold off airing his show until the after hours trading session ends.

 

It seems like no one here has read "trading with the enemy." The book divulges all of cramer's operations; front running, getting inside tips from analysts and kicking back in the form of hefty commissions, to getting stories before they are published and front running them.
The book was written by one of cramer's first hand employees in his hedge fund.
How long ago was it written? Did anything happen to him? The only thing that happened was the publisher mysteriously halted publication of the book.

That pretty much explains it all IMHO.

 

I read the book.It was published in 2002. The kid who wrote the book got the job because of his connection to Martin Peretz, the longtime owner of "The New Republic". Peretz was a a friend of Cramer's and an investor in his fund. The book is a good read. It portrays Cramer as a belligerent maniac who used sleazy pump and dump type tactics for many of his trading strategies.

 

Unfortunately, Cramerites would just do the frenzy in pre-market the next morning. It would actually affect the market least if the show were on during market hours. At least then there would be enough volume to counterract the hyper overreactions.

 

perhaps the fool should be cancelled.

 

I read it when it came out, and sold it on Amazon for $500. jk about that, but I did sell it.

 

Oh please, that would be great. Unfortunately, I doubt CNBC will cancel the show anytime soon. I can still dream about it though.

 

If I was CNBC I'd think hard about continuing it. He only has to make a one slip and someone might sue, and if it can be proven that CNBC knew about the irregularities they will be sued as well; a good class-action could bring the network on it's knees.

Ursa..

 

"He only has to make a one slip and someone might sue, and if it can be proven that CNBC knew about the irregularities they will be sued as well;"

I think he may be part of the "Weathermans Union" liability errors and omissions insurance coverage. Tough to sue a weatherman:

 

There is a notice posted before and after the show that "this information may have been previously publicized"....also very clear that info is NOT part of CNBC's opinion.....


SteveD