What did Cramer do to have the SEC restrict his trading???

Discussion in 'Trading' started by jay90210, Sep 28, 2005.

  1. jay90210


    Why can't Jim Cramer do trading with his personal money? I know he trades for his charitable trust, but last week on Mad Money he looked at the camera and stated he is NOT ALLOWED to trade equities personally and that when he wants to invest his own money he has to do so with real estate investing.

    So what's the scoop anyway?
  2. I don't think any CNBC employees are allowed to trade..
  3. That is CNBC rule nothing to do with SEC. It is also thestreet.com rule for journalist working with them.
  4. its an agreement he made with cnbc to avoid conflict of interest problems. sec has nothing to do with it.
  5. ==============
    Might be wrong but thought he had signed something;
    limiting himself to a investors time frame,
    he mentioned it earlier.Could ask him,its not a secret.:cool:
  6. jay90210


    Thanks for the insights, and maybe the CNBC employment is the current reason. HOWEVER...

    Anyone know about if PRIOR to CNBC employment, Cramer got himself into a little trouble with the SEC?

    And no, I can't ask him. When would I talk to him about it? No time during the Lightning Round, lol. :)
  7. Choad


    Yes he was investigated by the SEC for securities fraud.

    During an appearance on CNBC (he used to appear as a guest with Haynes) he blabbed about how he was going to short the crap out of some stock, etc., etc. - the usual Cramer style.

    I watched the the show that day, but I forget the details. Anyway, there were complaints and he was banned for over a year I think from appearing on CNBC.

    He was cleared, however, because he proved he did not have a position in the stock and was allowed back on.

    This is how I remember it, anyway, I could have some of it wrong. It's been a while...

  8. I can only imaging him saying .. BACK THE TRUCK UP


    as he unloads lol!!!!!!!!!!!!!!!!
  9. MRWSM


    I've heard Cramer talk about this before, the way I understand is he is not allowed to trade but he can have long term positions and does. It went something like any stock talked about on his show he could not buy or sell within a certain amount of months (not sure how many) before or after the show. Others on CNBC mention any positions they have for disclosure, so they have positions also.
  10. I am sure if someone really wanted to know they can email him..

    Jim wants to speak with you! Call 1-866-778-CNBC toll-free from 4-5:30 p.m. ET daily. Or e-mail Jim at MadMoney@cnbc.com to ask him any and all investment questions..

    I wonder how much money you need to be able to make trading to drop it all for a broadcasting position?
    #10     Sep 28, 2005