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Why we love Jim Cramer
Besides Jim Cramer’s colorful character, we like his ability to take his vast knowledge of finance and investment, and put it in simple terms that most everyone can understand.
He’s also humble enough to admit when he doesn’t know something, and when he’s wrong.
We also appreciate his transparency in his advice, indeed he manages his charitable trust posting on the web trades and positions according to his own advice.
One of his most colorful statements, that now in retrospect most people see as “right on the money”, is his August 2007 appearance on CNBC where when asked to comment on the Bear Sterns situation he states that “. . . [Bernanke] has no idea how bad things are out there, he has no idea . . .” Watch it for yourself.
Other things you might want to know about Jim Cramer**:
- Graduated magna cum laude from Harvard College in 1977, where he was also president of the Harvard Crimson;
- In 1978, while he was working as a journalist for the Tallahassee Democrat, he was one of the first on the scene after serial killer Ted Bundy attacked four women, killing two of them;
- After Tallahassee he worked at the Los Angeles Herald Examiner as a pot news reporter, covering “basically anyone who died violently in California”. While he was covering a shooting in San Diego for the Examiner, a burglar cleaned out both his home and his checking account. For the next nine months, he lived mostly out of his car;
- In 1984 he earned a Juris Doctor degree from Harvard Law School;
- In 1984 he joined Goldman Sachs as a stock broker;
- After Goldman Sachs he opened his own hedge fund, Cramer & Co. (later Cramer, Berkowitz & Co.), with Eliot Spitzer as one of the early investors;
- In 1996 Cramer co-founded TheStreet.com, where he is still its largest shareholder;
- In the 1990’s he co-hosted the CNBC’s show Kudlow & Cramer with Lawrence Kudlow. Kudlow and Cramer split when Kudlow called Cramer ’sweet potato bull macho’ on the air on October 17, 2002;
- Currently Cramer is the host of the CNBC’s show Mad Money.
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Photo Credits: epicharmus (cc)
(**) source: wikipedia
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