Jim Cramer

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James Joseph Cramer

Born February 10, 1955 (1955-02-10) (age 54)[1]
Wyndmoor, Pennsylvania, U.S.
Alma mater Harvard College
Harvard Law School
Occupation Television personality, Author

James Joseph "Jim" Cramer (born February 10, 1955) is an American television personality, a former hedge fund manager, and a best-selling author. Cramer is the host of CNBC's Mad Money and a co-founder of TheStreet.com. He is also a regular contributor to New York magazine, and an occasional contributor to the magazineTime.

Contents

[edit] Early years

Cramer was born to a Jewish family in Wyndmoor, Pennsylvania, a suburb of Philadelphia. One of his first jobs was selling ice cream at Veterans Stadium during Philadelphia Phillies games. Cramer went to Springfield Township High School in Montgomery County.

He graduated from Harvard College in 1977. At this point in his life, Cramer was a staunch left-winger, naming his plan to revitalize The Harvard Crimson, the school newspaper, with inspiration from Lenin's "What Is to Be Done?"[2]

[edit] Career

[edit] Journalist

He began his journalism career in college, working for The Harvard Crimson, and rising to become its president. Upon graduating, Cramer worked his way through several entry-level reporting jobs in search of his big writing break. Dating back to March 1, 1978, Cramer worked for the Tallahassee Democrat in Tallahassee, Florida, where he covered the Ted Bundy murders. Then-executive editor, Richard Oppel, says "Jimmie was like a driving ram. He was great at getting the story."[3]

[edit] Lawyer

Following this experience, Cramer moved in with his sister in Greenwich Village. His sister was studying to be a lawyer and encouraged Cramer to become a prosecutor. Cramer was one of the earliest reporters at American Lawyer magazine, where he worked for founder Steven Brill.[4] Cramer later earned a Juris Doctor degree from Harvard Law School.[2] During his years at Harvard, Cramer worked as a research assistant for Alan Dershowitz.[citation needed]

After graduating in 1984, Cramer's plans to become a prosecutor were dashed when he was denied employment with the Office of the United States Attorney for the Southern District of New York, headed at the time by Rudy Giuliani, because his law school grades were deemed not good enough.[2]

Cramer was admitted to the New York State Bar in 1985 but he is not a current member of the NYSB.[5]

[edit] Investor

Cramer obtained employment in 1984 as a stock broker in Goldman Sachs' Sales & Trading department. Cramer's success in this position led him to found his own hedge fund, Cramer & Co. (later Cramer, Berkowitz, & Co.) in 1987. The fund operated out of the offices of hedge fund pioneer Michael Steinhardt's Steinhardt, Fine, Berkowitz & Co., and early investors included Eliot Spitzer (a Harvard classmate and one of his oldest friends) [6], Steven Brill, and Martin Peretz.[7]

A year later, Cramer married Karen Backfisch-Olufsen, who was a trader with Steinhardt's firm.[citation needed] Cramer retired from his hedge fund in 2001, after finishing with a self reported 29% return in 2000. Cramer's fund had one down year from 1988-2000 while he ran it, in 1998, a year that was disastrous for many in the industry. Cramer, Berkowitz finished down 2-3% and they did not charge a management fee that year to their clients. The fund was taken over by his former partner Jeff Berkowitz after Cramer's retirement.

[edit] TheStreet.com

In 1996 Cramer co-founded TheStreet.com with The New Republic editor Martin Peretz, one of his hedge fund's original clients. Cramer later had a falling out with Peretz over business matters. Cramer is currently a market commentator and adviser to the TheStreet.com, as well as its largest shareholder. Cramer also manages a charitable trust stock portfolio which is tied to TheStreet.com through a subscription service called the Action Alerts PLUS Portfolio. Cramer currently works on a new project, MainStreet.com. An earlier similar project, TheRoad.com, did not yield the success Cramer had anticipated.

[edit] Mad Money

The cable television program Mad Money with Jim Cramer began on CNBC in 2005. As mentioned on CNBC's Web site in an article titled, "Mad Money Manifesto" by Jim Cramer, the show's mission statement and Cramer's job "is not to tell you what to think, but to teach you how to think about the market like a pro. This show is not about picking stocks. It's not about giving you tips that will make you money overnight – tips are for waiters. Our mission is educational, to teach you how to analyze stocks and the market through the prism of events." To provide viewers with "the knowledge and the tools that will empower you to be a better investor," Mad Money features six segments: The Lightning Round, Game Plan, Sell Block, Sudden Death, Am I Diversified, and Mad Mail.[8]

[edit] Other television and radio shows

After being a frequent guest commentator on CNBC in the late 1990s, Cramer co-hosted CNBC shows America Now and Kudlow & Cramer with Lawrence Kudlow in the early 2000s.

Cramer hosted a one-hour radio show, Jim Cramer's Real Money, until December 2006. The show was similar to his Mad Money TV show. He also guest-hosted in the slot caused by the cancellation of Imus in the Morning (MSNBC and WFAN/Westwood One) in May 2007.

[edit] Cameos and other appearances

 This section of a biography of a living person needs additional citations for verification. Please help improve this article by adding reliable references (ideally, using inline citations). Unsourced or poorly sourced contentious material must be removed immediately, especially if potentially libelous or harmful. (March 2009)
  • 60 Minutes interview

On November 13, 2005, Dan Rather did a sit-down interview with Cramer on 60 Minutes. Among the topics of discussion were Cramer's past at his hedge fund; for example, his violent temper, and what finally led him to come to his senses and "calm down."[citation needed] Footage of Cramer at his family home with his daughters and wife was also included.[citation needed] On November 15, 2005, Jim mentioned on his program that he received hundreds of e-mails after his 60 Minutes interview. This report was taped before Cramer's radio show, Smart Money with Jim Cramer moved to WOR and became syndicated under the CBS Radio banner.

  • Arrested Development

In 2005, Cramer appeared as himself in two episodes of the now-defunct FOX TV series Arrested Development. He appeared to first announce that he had upgraded Bluth Company stock to a "Don't Buy" from a "Triple Sell", and then to say that the stock was not a "Don't Buy" anymore, but a "Risky".

Cramer has also made appearances on NBC's Today, NBC Nightly News, Live with Regis and Kelly, ESPN Classic's Cheap Seats, NBC's Late Night With Conan O'Brien, Comedy Central's The Daily Show with Jon Stewart & The Colbert Report, The Tonight Show with Jay Leno, Late Show with David Letterman, ABC's Jimmy Kimmel Live and NBC's The Apprentice (U.S. Season 7) called The Celebrity Apprentice.

Cramer also appears in 2008 motion picture Iron Man spoofing Stark Industries on his show Mad Money.[9]

[edit] Controversy

 The neutrality of this article is disputed. Please see the discussion on the talk page. Please do not remove this message until the dispute is resolved. (April 2009)

[edit] Fox News Channel lawsuit

In 2000, Cramer settled a lawsuit with Fox News Channel in which Fox had claimed Cramer reneged on a deal to produce a show for them. Their conflict began when Fox complained that Cramer promoted TheStreet.com's stock on the air.[10]

[edit] Market manipulation

In March 2007, a December 2006 interview from TheStreet.com's "Wall Street Confidential" webcast stirred controversy after it appeared on YouTube.com.[11] In the video, Cramer described activities used by hedge fund managers to manipulate stock prices - some of debatable legality and others illegal. He described how he could push stocks higher or lower with as little as $5 million in capital when he was running his hedge fund. Cramer said, "A lot of times when I was short, I would create a level of activity beforehand that would drive the futures." He also encouraged hedge funds to engage in this type of activity because it is "a very quick way to make money". Cramer claimed that everything he did was legal, but that illegal activity is common in the hedge fund industry. He also stated that some hedge fund managers spread false rumors to drive a stock down: "What's important when you are in that hedge-fund mode is to not do anything remotely truthful because the truth is so against your view, that it's important to create a new truth, to develop a fiction."[12] Cramer described a variety of tactics that hedge fund managers use to affect a stock's price. Cramer said that one strategy to keep a stock price down is to spread false rumors to reporters he described as "the Pisanis of the world". The comment was a reference to CNBC correspondent Bob Pisani, who reports from the trading floor of the New York Stock Exchange. "You have to use these guys," said Cramer. He also discussed giving information to "the bozo reporter from The Wall Street Journal" to get an article published.[13][14] Cramer said this practice, although condemned illegal, is easy to do "because the SEC doesn't understand it."[15] During the interview Cramer referred to himself as a "banking class hero."[16]

[edit] SEC subpoena

In February 2006, an SEC investigation into allegations of collusion between short-sellers and a stock research firm led to the serving of subpoenas to TheStreet.com and Cramer, as well as journalists for Dow Jones and Marketwatch.com. Still, it's possible the issue could be moot.[17] The SEC has indicated it has no intention of enforcing the subpoenas at this time. The SEC began to back away from the subpoenas, after lawyers for Dow Jones said they would not comply with them. SEC Chairman Christopher Cox took the unusual step of rebuking the SEC's staff attorneys for filing subpoenas on two Dow Jones reporters without first consulting him or the other top commissioners. Cox issued a statement saying neither he nor any of the SEC's four other commissioners were aware of the subpoenas, which he called "highly unusual."

The allegations had been raised publicly and in a lawsuit against Gradient by Overstock.com chief executive Patrick M. Byrne. In May 2007, it was revealed that the SEC had subpoenaed Byrne in May 2006, in connection with an investigation of the company.[18]

[edit] Performance of stock picks and history of market calls

Cramer is a former hedge fund manager and founder/owner and Senior Partner of Cramer Berkowitz, where Jim reported a 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 a self reported 36% return in 2001.[19] These returns are in dispute as they have not been independently audited or verified and are based on the firm's claimed returns.

On 29 February 2000, about one week before the historic all-time high of the NASDAQ Composite index, Cramer delivered his "The Winners of the New World" speech at the 6th Annual Internet and Electronic Commerce Conference and Exposition in New York. In this speech, Cramer recommended 10 stocks and went on to say "I wouldn't own any other stocks in the year 2000". By 2009, all of the mentioned companies have either gone out of business, have been taken over by competitors or trade at fractions of their 2000 stock price.[20]

On September 15, 2008, Cramer invited the CEO of Wachovia on his show, Mad Money, in order to recommend the stock to potential investors.[21] Cramer agreed with CEO Robert Steel that the company was fundamentally sound and that the ratio of good loans to bad loans was low. Cramer would recommend the stock to his viewers before Citi announced their intentions to acquire Wachovia's banking operations. On Monday, September 29, Wachovia's share prices dropped over 95% in the pre-market and over 80% in market hours following news of a possible Citi acquisition. [22] Prior to this, Cramer had stated, "This is run by Bob Steel. He's as close as we're going to get to a great banker. I think he's going to make this a great company. "[23] Eventually, Wells Fargo would purchase Wachovia for $15.1 billion in an all stock deal leaving Wachovia shareholders with 0.1991 shares of Wells Fargo for every share of Wachovia stock, resulting in a large decline in stockholder value.[24] In 2008, Wachovia shares declined 88 percent.[25]

On August 3, 2007, before the stock market fell and before the recession began, Jim Cramer can be heard in what is now known as the infamous 'Rant Heard Round the World.'[26] Jim Cramer made a passionate plea to Federal Reserve Chairman Ben Bernanke to consider cutting interest rates and, in turn, help the market and the people who are losing their jobs on Wall Street.

On July 8, 2008, in an article on TheStreet.com titled, 'Look At The Facts'[27] Cramer said, "The losses are increasing, the auction-rate preferreds are now biting, the mortgage implode-a-meter now measures how many home-builders are going under."

On Hardball with Chris Matthews for September 19, 2008, Cramer stated "It‘s not too late to be on the pom-pom...the sideline" in regards to home teaser loans.[28] Cramer spoke again on the Today Show on October 6, 2008, suggesting to investors, "Whatever money you need for the next five years, please take it out of the stock market."[29] On this day the Dow was resting at 11,388. By February 24, 2009 the Dow was down to 7,351.

On September 22, 2008, Wall Street Journal best-selling author and syndicated newspaper columnist, Eric Tyson, criticized Cramer's stock picks and his performance in general. [30]

In a Feb 9th, 2009 cover story, Barron's found that "his picks haven't beaten the market. Over the past two years, viewers holding Cramer's stocks would be up 12% while the Dow rose 22% and the S&P 500 16%." CNBC disputed the magazine's findings.[31] Barrons further reported that betting against Cramer's Buy recommendations could yield 25% in a month based on options-market activity. [32]

[edit] Bear Stearns prediction

On the March 11, 2008, episode of Cramer's show Mad Money, a viewer named Peter submitted the question "Should I be worried about Bear Stearns in terms of liquidity and get my money out of there?" Cramer responded "No! No! No! Bear Stearns is not in trouble. If anything, they're more likely to be taken over. Don't move your money from Bear."[33]

Some say that the viewer was asking whether he should keep his investment in Bear Stearns common stock (NYSE: BSC), and Cramer was advising him not to sell the stock in the belief that a company would pay a premium to acquire Bear Stearns.[34] Over the next few days BSC stock fell 92%, on news of a Fed bailout and $2/share takeover by JPMorgan. The final shareholder approved cost of acquiring Bear Stearns would be $10/share.

Others say the comments were clear and unambiguous, and that the viewer was asking whether he should withdraw money he had held in a brokerage account at Bear Stearns.[35] In other words, the caller wanted to know if it was possible that the liquidity crisis at Bear was so bad, that the viewer would be unable to get his money out of his Bear Stearns account if it went under.[36] On March 17, 2008, Cramer claimed he meant the latter explanation, rather than the previous one.[37] Cramer states he was not recommending the common stock but allaying concerns about the account holder's liquidity held in a Bear Stearns brokerage account.

According to Michael Lewis, a journalist for the U.K.-based Evening Standard news Web site, he claims TheStreet.com listed Bear Stearns as a "Buy" at $62 per share on March 11, 2008 which was the same day as the caller's question and a day before the collapse of Bear Stearns.[38] However, on TheStreet.com,[39] the Web site quote that shows the ratings history for actual changes that Cramer makes, it indicates that Cramer changed Bear Stearns rating to a "Sell" on February 5th 2008. On his March 11, 2009 appearance on the Daily Show, Cramer admitted he made mistakes on his Bear Stearns calls.[40]

[edit] Jim Cramer' responses to criticism

[edit] The White House

On March 2, 2009, Jim Cramer drew the attention of some critics after his blunt evaluation of President Obama’s spending plans and the administration’s handling of the banking crisis. Cramer’s name came up on March 3 during a White House press briefing after Cramer said that Obama was responsible for “the greatest wealth destruction I have seen by a president.”[41] An offended White House shot back.[42] Press Secretary Robert Gibbs said, "I'm not entirely sure what he's pointing to make some of the statements." When pressed further by NBC's Tom Costello, Gibbs said, "If you turn on a certain program it's geared to a very small audience [...] And you can go back and look at any number of statements he's made in the past about the economy and wonder where some of the backup for those are, too."

On March 5, Jim Cramer responded to the White House.[43] He rebuked, "Huh? Backup? Look at the incredible decline in the stock market, in all indices, since the inauguration of the president, with the drop accelerating when the budget plan came to light because of the massive fear and indecision the document sowed: Raising taxes on the eve of what could be a second Great Depression, destroying the profits in health care companies, tinkering with the mortgage deduction at a time when U.S. house price depreciation is behind much of the world's morass and certainly the devastation affecting our banks, and pushing an aggressive cap and trade program that could raise the price of energy for millions of people."

Cramer questioned criticism he received from public criticizers, which he explained makes him "uncomfortable being in the crosshairs of columnists and comedians I enjoy."[44] Cramer asked, "So, why after toiling in the cable wilderness for four years with Mad Money am I the target of the wrath of the Obama clan, and the darling, albeit surely momentary, of the Obama-critics? After all, my criticism of Obama's handling of the economic crisis is a lot less pointed than my withering August 2007 'They Know Nothing' meltdown[45] against Ben Bernanke[46] and the previous administration's handling of the economic crisis."

[edit] Frank Rich

Referring to the March 8, 2009 charges leveled against Jim Cramer by The New York Times' Frank Rich, Cramer said, "I called out [Paulson[47] and Geithner[48]] for their mistakes, where was Frank Rich praising me on that? Where was that?"[49]

[edit] Jon Stewart

Main article: Jon Stewart's 2009 controversy with CNBC

On March 12, 2009, Jim Cramer appeared on The Daily Show with Jon Stewart.[50] Stewart reiterated earlier claims regarding the CNBC host's "silly and/or embarrassing and/or stupid financial observations."[51] Moreover, he claimed CNBC shirked its journalistic duty by believing corporate lies, rather than being an investigative "powerful tool of illumination."[52] For his part, Cramer disagreed with Stewart on a few points, but acknowledged that he could have done a better job foreseeing the economic collapse: "We all should have seen it more." [53]

Stewart also discussed how short-selling was detrimental to the markets and investors. Cramer admitted to Stewart that short-selling was detrimental, stated his opposition to it, and claimed that he had never engaged in it. He said, "I will say this: I am trying to expose this stuff, exactly what you guys do, and I've been trying to get the regulators to look at it."[54] However, Stewart played several video clips from 2006 where Cramer discussed the spreading of false rumors to drive down stock prices and encouraged short-selling by hedge funds as a means to generate returns.[55] At one point in a clip from December 22, 2006 he said, "I would encourage anyone in a hedge fund to do it." He called it a very quick way to make money and very satisfying. He continued, "By the way, no one else in the world would ever admit that, but I don't care, and again, I'm not gonna say it on tv." [56] Stewart responded, "I want the Jim Cramer on CNBC to protect me from that Jim Cramer." [57] Cramer again admitted that he can do better, and that he should try to change. The interview ended when Stewart pointedly suggested: “Maybe we can remove the ‘financial expert’ and the ‘In Cramer We Trust’ and start getting back to fundamentals on the reporting, as well, and I can go back to making fart noises and funny faces.” Cramer responded: “I think we make that deal right here.” [58]

[edit] Response to criticism for his Wachovia call

On March 9, 2009, during a segment on Mad Money,[59] Jim Cramer said Frank Rich "chastised me for endorsing Wachovia's stock after then-CEO Bob Steel came onto Mad Money and spoke positively about the bank." After the bank collapsed, Jim Cramer reminded viewers that he takes pride in "the part about accountability," and is the first person to admit when wrong. Cramer mentioned, "Look, I was taken in, the guy pantsed me. I made a mistake. The SEC is investigating Steel's appearance on the show for truthfulness, though. I made a mistake, but they're investigating him to see if he lied. Bigger issue. Sometimes you just get had."[60]

Jim Cramer apologized both on Mad Money and on the Today Show for believing in Steel.[61]

[edit] Response to pundits

"The pundits," Jim Cramer explained on March 9 2009 in a MainStreet article, "who haven't paid attention to anything I have been saying or writing for the past 18 months are all over me."[62] Cramer said the pundits "won't engage in the merits of, say, favoring Tier 1 capital for the banks vs. common equity, or forbearing on the banks to work the situation out over time because the banks can be profitable if we have some patience. They just attack me."[63] Cramer suggested, "It's time to get serious. It's time to take the issue from the pundits and from the left and right, and put it where it belongs: serious non-ideological debate to put out the real firestorm, the collapse of the economy from Wall Street to Main Street and the ensuing Great Wealth Destruction for all."

[edit] Bibliography

[edit] Notes

  1. ^ http://www.pabook.libraries.psu.edu/palitmap/bios/Cramer__Jim.html
  2. ^ a b c Tim Russert Show, July 14, 2007.
  3. ^ "The Mad Man of Wall Street." BusinessWeek. October 31, 2005.
  4. ^ THE LAW; At the Bar - New York Times
  5. ^ http://iapps.courts.state.ny.us/attorney/AttorneyDetails?attorneyId=5430853
  6. ^ A Rather Sedate Jim Cramer Reacts to Spitzer Prostitution Revelation | NewsBusters.org
  7. ^ http://www.usnews.com/usnews/biztech/articles/070218/26eecramer_2.htm
  8. ^ Jim Cramer. "About Mad Money". CNBC. http://www.cnbc.com/id/17283246/. 
  9. ^ Carlo Dellaverson (Friday, 2 May 2008). "Cramer In 'Iron Man'". CNBC. http://www.cnbc.com/id/24427046/. Retrieved on Friday, 2 May 2008. 
  10. ^ "Jim Cramer Quits Hedge Fund". Associated Press. USA Today. December 4, 2000. http://www.usatoday.com/money/perfi/funds/0022.htm. 
  11. ^ TheStreet.com TV; YouTube. "Jim Cramer manipulation, insider trading, hedge fund scum". http://www.youtube.com/watch?v=PfC0mE9eVb4. 
  12. ^ Thomas Kostigen (March 23, 2007). "Jim Cramer's big mouth: His revelations only confirm what dupes average investors are". MarketWatch. http://www.marketwatch.com/news/story/jim-cramers-big-mouth-reveals/story.aspx?guid=%7BEFABFEB9%2D4FC7%2D45A8%2DA14A%2D6318372C33E2%7D. 
  13. ^ Boyd, Roddy "Cramer Reveals a Bit Too Much", New York Post, March 20, 2007
  14. ^ Boyd, Roddy (March 21, 2007). "Cramer's Big Mouth: Clip Could Run Afoul of CNBC". New York Post. http://www.nypost.com/seven/03212007/business/cramers_big_mouth_business_roddy_boyd.htm. 
  15. ^ Matt Krantz, USA Today (March 24, 2007). "CNBC's Cramer boasts of manipulating markets". http://www.usatoday.com/money/markets/2007-03-23-cramer-usat_N.htm. 
  16. ^ Hamilton, Dane (2007-03-20). "Jim Cramer draws fire over manipulation comments". http://today.reuters.com/news/articleinvesting.aspx?view=CN&WTmodLOC=C3-News-2&symbol=TSCM.O&storyID=2007-03-20T225520Z_01_N20362926_RTRIDST_0_CRAMER-INTERVIEW.XML. Retrieved on 2007-03-20. 
  17. ^ Matthew Goldstein, TheStreet.com (February 27, 2006). "TheStreet.com, Cramer Get Subpoenas in Gradient Probe". http://www.thestreet.com/_tscfoc/markets/marketfeatures/10270634.html. 
  18. ^ New York Post (May 11, 2007). "Company Byrne-d on Probe Report". http://www.nypost.com/seven/05112007/business/company_byrne_d_on_probe_report_business_roddy_boyd.htm. 
  19. ^ CNBC TV Profiles - Jim Cramer
  20. ^ "The Winners of the New World". http://www.thestreet.com/funds/smarter/891820.html. 
  21. ^ "It Did Happen! - Cramer's Mad Money". http://seekingalpha.com/article/97884-it-did-happen-cramer-s-mad-money-9-29-08. 
  22. ^ "WB Historical Prices". http://finance.yahoo.com/q/hp?s=WB&a=08&b=1&c=2008&d=08&e=29&f=2008&g=d. 
  23. ^ "Mad Money Lightning Round': Wait for Wachovia". http://www.thestreet.com/funds/lightninground/10436026.html. 
  24. ^ "Wells Fargo Buys Wachovia for $15.1 Billion". http://abcnews.go.com/Business/SmartHome/story?id=5946486&page=1. 
  25. ^ "Wells Fargo's Push East Slowed by Wachovia Defections". http://www.bloomberg.com/apps/news?pid=20601109&sid=aZ6bc_6wz50c&refer=news. 
  26. ^ Jim Cramer (07/29/08). "Cramer's Rant, the Anniversary". CNBC. http://www.cnbc.com/id/15840232?video=808465173&play=1. Retrieved on 07/29/08. 
  27. ^ Jim Cramer (7/8/08). "Look at the Facts". TheStreet. http://www.thestreet.com/p/_search/rmoney/jimcramerblog/10432518.html. Retrieved on 7/8/08. 
  28. ^ Jim Cramer (09/19/08). "'Hardball with Chris Matthews' for September 19, 2008". MSNBC TV. http://today.msnbc.msn.com/id/26841599/. Retrieved on 09/19/08. 
  29. ^ Michael Inbar (October 6, 2008). "Jim Cramer: Time to get out of the stock market". Today MSNBC. http://www.msnbc.msn.com/id/27045699/. Retrieved on Oct. 6, 2008. 
  30. ^ "The Worth of Jim Cramer's Advice". http://www.erictyson.com/articles/20080922. Retrieved on 2009-03-11. 
  31. ^ http://online.barrons.com/article/SB118681265755995100.html
  32. ^ "Cramer's Star Outshines his Stock Picks". http://online.barrons.com/article/SB123397107399659271.html. 
  33. ^ Mad Mail: Is Bear Stearns in Trouble?
  34. ^ "Jim Cramer on Bear Stearns". Media Bistro. 2008-03-17. http://www.liveleak.com/view?i=2b7_1205751955&p=1. Retrieved on 2008-03-17. 
  35. ^ "Setting the Record Straight on Bear Stearns". CNBC. 2009-03-04. http://www.cnbc.com/id/29509036. Retrieved on 2009-03-04. 
  36. ^ "In Defense of Jim Cramer on Bear Stearns". Seeking Alpha. 2008-03-17. http://seekingalpha.com/article/68961-in-defense-of-jim-cramer-on-bear-stearns. Retrieved on 2008-03-18. 
  37. ^ Tom Brennan (2008-03-17). "Cramer Was Right About Bear Stearns". CNBC. http://www.cnbc.com/id/23678693/. Retrieved on 2008-03-17. 
  38. ^ Michael Lewis (2008-03-27). "Bear Stearns proves bank CEOs don't have a clue". Evening Standard. http://www.thisislondon.co.uk/standard-business/article-23466011-details/Bear+Stearns+proves+bank+CEOs+don't+have+a+clue+about+credit+crunch+crisis/article.do. Retrieved on 2009-03-11. 
  39. ^ Stock Quote: BSC. "TheStreet.com stock quote rating history". TheStreet.com. http://www.thestreet.com/quote/BSC.html. 
  40. ^ Jon Stewart and Jim Cramer: The Extended Daily Show Interview
  41. ^ "Cramer to White House: Wealth Destruction Is Real". CNBC. 2009-03-03. http://www.cnbc.com/id/29490969/. Retrieved on 2009-03-03. 
  42. ^ "White House Knocks Jim Cramer For Calling Obama Budget "Greatest Wealth Destruction By a President"". CNBC. 2009-03-03. http://www.mediabistro.com/tvnewser/cnbc/white_house_knocks_jim_cramer_for_calling_obama_budget_greatest_wealth_destruction_by_a_president_110203.asp. Retrieved on 2009-03-03. 
  43. ^ "Cramer: My Response To The White House". MainStreet. 2009-05-03. http://www.mainstreet.com/article/moneyinvesting/news/cramer-my-response-white-house?page=2. Retrieved on 2009-05-03. 
  44. ^ "Cramer Takes on the White House, Frank Rich and Jon Stewart". MainStreet. 2009-09-03. http://www.mainstreet.com/article/moneyinvesting/news/cramer-takes-white-house-frank-rich-and-jon-stewart. Retrieved on 2009-09-03. 
  45. ^ "Jim Cramer's famous rant about the "know nothing" Fed.". NBC. 2007-29-07. http://www.cnbc.com/id/15840232?video=808465173&play=1. Retrieved on 2007-29-07. 
  46. ^ "Cramer: Bernanke, Wake Up". NBC. 2007-03-08. http://www.cnbc.com/id/15840232?video=452808336. Retrieved on 2007-03-08. 
  47. ^ Jim Cramer (12/16/08). "Cramer's 'Mad Money' Recap: Dec. 16". TheStreet. http://www.thestreet.com/story/10453585/1/cramers-mad-money-recap-dec-16.html. Retrieved on 12/16/08. 
  48. ^ "Cramer: Where the Heck Is Tim Geithner?". CNBC. Friday, 20 Feb 2009. http://www.cnbc.com/id/29304624. Retrieved on Friday, 20 Feb 2009. 
  49. ^ "No Respect: Cramer Criticizes His Critics". CNBC. 2009-10-03. http://www.cnbc.com/id/29601234. Retrieved on 2009-10-03. 
  50. ^ "Daily Show interview of Jim Cramer". The Daily Show with Jon Stewart. comedycentral.com. 2009-03-12. http://www.thedailyshow.com/full-episodes/index.jhtml?episodeId=220533. Retrieved on 2009-03-14. 
  51. ^ "CNBC's Jim Cramer Responds to Jon Stewart's Response to CNBC's Jim Cramer". Comedy Central. March 10, 2009. http://blog.indecisionforever.com/2009/03/10/cnbcs-jim-cramer-responds-to-jon-stewarts-response-to-cnbcs-jim-cramer/. Retrieved on March 10, 2009. 
  52. ^ "Stewart hammers Cramer on `The Daily Show'". My Way News. 2009-03-13. http://apnews.myway.com/article/20090313/D96T3SJ83.html. Retrieved on 2009-03-13. 
  53. ^ "March 12, 2009: Jim Cramer Unedited Interview Pt. 2". Comedy Partners. 2009-03-12. http://www.thedailyshow.com/video/index.jhtml?videoId=221517&title=jim-cramer-unedited-interview. Retrieved on 2009-03-12. 
  54. ^ "Out with Cox, in with Uptick Rule". CNBC. Friday, 21 Nov 2008. http://www.cnbc.com/id/27850397. Retrieved on Friday, 21 Nov 2008. 
  55. ^ "Brawl Street: Jon Stewart vs. Jim Cramer". Business Week. Business Week. 2009-03-13. http://www.businessweek.com/investing/insights/blog/archives/2009/03/brawl_street_jo.html. Retrieved on 2009-03-13. 
  56. ^ "March 12, 2009: Jim Cramer Unedited Interview Pt. 2". Comedy Partners. 2009-03-12. http://www.thedailyshow.com/video/index.jhtml?videoId=221517&title=jim-cramer-unedited-interview. Retrieved on 2009-03-12. 
  57. ^ "March 12, 2009: Jim Cramer Unedited Interview Pt. 2". Comedy Partners. 2009-03-12. http://www.thedailyshow.com/video/index.jhtml?videoId=221517&title=jim-cramer-unedited-interview. Retrieved on 2009-03-12. 
  58. ^ "March 12, 2009: Jim Cramer Unedited Interview Pt. 3". Comedy Partners. 2009-03-12. http://www.thedailyshow.com/video/index.jhtml?videoId=221518&title=jim-cramer-unedited-interview. Retrieved on 2009-03-12. 
  59. ^ "No Respect: Cramer Criticizes His Critics". CNBC. 2009-09-03. http://www.cnbc.com/id/29601234. Retrieved on 2009-09-03. 
  60. ^ "No Respect: Cramer Criticizes His Critics". CNBC. 2009-09-03. http://www.cnbc.com/id/29601234. Retrieved on 2009-09-03. 
  61. ^ "Jim Cramer: "I Screwed Up. I Apologize"". TVNEWSER. 2008-30-09. http://www.mediabistro.com/tvnewser/cnbc/jim_cramer_i_screwed_up_i_apologize__96078.asp. Retrieved on 2008-30-09. 
  62. ^ Jim Cramer (2009-09-03). "Pundits Attack Cramer, But Don't Pay Attention To Facts". MainStreet. http://www.mainstreet.com/article/moneyinvesting/news/cramer-takes-white-house-frank-rich-and-jon-stewart?page=4. Retrieved on 2009-09-03. 
  63. ^ Jim Cramer (2009-09-03). "Why Do Pundits Attack Cramer?". MainStreet. http://www.mainstreet.com/article/moneyinvesting/news/cramer-takes-white-house-frank-rich-and-jon-stewart?page=3. Retrieved on 2009-09-03. 

[edit] References

[edit] External links

Sister project Wikiquote has a collection of quotations related to: James Cramer

[edit] Biographies

[edit] Jim Cramer's Rules for Investing and Trading

[edit] Notable Jim Cramer Sources

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