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Mad Money

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crazies

Jim Cramer's Salad Days

Why is Jim Cramer, CNBC's millionaire Mad Money maniac, such a shouty little bag of nuts? "That chip on his shoulder may have been to do with a turbulent early career. He worked as a newspaper reporter in Florida and California before suffering a series of catastrophic mishaps in which his home was burgled and his bank account was emptied. In his autobiography, Cramer recounts being homeless for nine months and sleeping in a car in California with a gun for protection." [The Guardian via MediaBistro]

4:49 PM on Fri Apr 25 2008
By ian spiegelman
894 views, 19 comments

Latest by skahammer: @Hez: Ah, what would a Canaardvark know from comfort stations anyway? Or turnpikes, for that matter? Once, I tried to merge onto the Trans-Canada Highway in B.C., but the Mounties turned me back because they couldn't figure out where the more »

financial panic

Jim Cramer Defends His Position, Is Still Hated

"Mad Money" host and bug-eyed madman Jim Cramer went on CNBC today to clarify his statements from last week about Bear Stearns, when he urged people not to move their money out of the firm. As we pointed out earlier in his defense, he was not referring to the company's stock, and his advice was actually perfectly sound. "Do you know what would happen on this show if I came out and said I want everyone to take their money out of X bank?" he ranted today. "Jim Cramer causes a run on X bank!" As it turns out, the run on the bank happened anyways. This video, originally posted on YouTube, features Cramer's defense today along with some, ahem, editorial comments against him; we have to say we still agree with him in this particular case. Although we would never take his stock tips. Click to watch the clip.

5:32 PM on Mon Mar 17 2008
By Hamilton Nolan
3,325 views, 16 comments

Latest by n/a: @Furious George: Bear's asset management division clients should be eligible for SIPC, to some degree depending upon what they are invested in, as their assets, if down or up can easily be moved, theoretically, to another firm for continued management more »

mad money

In Defense Of Jim Cramer

"Bear Stearns is not in trouble!" Jim Cramer, CNBC's bug-eyed "Mad Money" host who is to finance what Carrot Top is to comedy, shouted last Tuesday. "Don't move your money from Bear! That's just being silly." The immediate reaction to seeing his advice in the wake of Bear's collapse is: what an idiot. But really, his advice was not bad! Cramer—a famously bad prognosticator—noted that Bear would, at worst, be taken over, meaning those who had money with the firm would have their investments guaranteed by a more deep-pocketed buyer. Which is exactly what happened when JPMorgan bought Bear over the weekend. Note that he was not speaking about Bear's stock price [last Tuesday: over $60. Now: toilet paper]. What have we learned? Only Wild Jim Cramer can stop the collapse of the American economy. Click to watch the crazy savant's ill-fated harangue. [via WJNO]

10:15 AM on Mon Mar 17 2008
By Hamilton Nolan
12,359 views, 39 comments

Latest by heroinandpeeps: @Furious George: Hell, yes. Wearing question marks after Labor Day, and he gets away with it! So suave. more »

journalismism

Jim Cramer, Untouchable

Financial news network CNBC is in a tiff with the financial magazine Barron's, according to a ponderous but awesome story by the Columbia Journalism Review's Dean Starkman. Barron's decided to investigate CNBC meal ticket Jim Cramer, host of "Mad Money," and the network got pissed. The Barron's story began as a look into whether Cramer's stock picks might be leaking before broadcast somehow, which scared CNBC so much that it scurried around spending money on lawyers and sweating until that line of investigation was dropped. The final version of the piece didn't mention that, but it did say that Cramer's stock picks don't generally beat the overall market—not a stunning conclusion to financial types, but poison to Cramer's viewing audience, who watch him with hopes of getting rich. Now the TV network is so mad that it has mostly stopped inviting Barron's reporters onto shows. Starkman comes to the conclusion that both sides made some mistakes, but CNBC is almost totally wrong, while the Barron's story is mostly correct. So why the snippy move to ban the (innocent) reporters from the air? That's the most shine anybody at Barron's can hope for in their day-to-day life. End the embargo! [CJR] Remember: if you upset Jim Cramer, he goes PSYCHO like THIS: More »

3:37 PM on Fri Feb 15 2008
By Hamilton Nolan
1,245 views, 17 comments

Latest by famousauthor: I always thought of him as the Galloping Gourmet of the stock market. Or the Chris Matthews of Wall Street, whatever. more »