So-called amateurs have a bad rap in capital markets. Most professional investors sniff at such people, saying that their opinions are suspect, and that they should generally be treated as contrarian signals, or plain ignored. Far from pillorying the non-pros, Jim Cramer, host of CNBC’s Mad Money, has done more than anyone else to celebrate them.
The first person to bring Web 2.0 technology to the investing masses—he was the author of the first professional blog, and he is a founder of TheStreet.com —Cramer has become the oft-controversial champion of the investing masses. We will have a wide-ranging discussion about blogs, stock-picking (boo-yah!), technology, and the future of financial media.
Are amateurs doomed to forever be at a disadvantage in capital markets? Can technology and sites and shows like Cramer’s help change the balance? How has the relationship between technology and markets changed during Cramer’s decades around the business?
Mr. Cramer graduated magna cum laude from Harvard College, where he was President of The Harvard Crimson. He then worked as a journalist at the Tallahassee Democrat and the Los Angeles Herald Examiner, covering everything from sports to homicide, before moving to New York to help start American Lawyer magazine. After a three year stint, Mr. Cramer entered Harvard Law School and received his J.D. in 1984. Instead of practicing law, however, he joined Goldman Sachs, where he worked in sales and trading. In 1987 he left Goldman to start his own hedge fund. While he worked at his fund, he helped start Smart Money for Dow Jones and then in 1996, he co-founded TheStreet.com, where he has served as a columnist and contributor ever since. In 2000, he retired from active money management to embrace media full-time, including radio and television. Currently, Mr. Cramer is a markets commentator for CNBC and TheStreet.com. In addition to his daily writing for TheStreet.com’s RealMoney and Action Alerts PLUS, as well as his participation in various video segments on TheStreet.com TV, Mr. Cramer serves as host of CNBC’s Mad Money television program.
Mr. Cramer is the author of “Confessions of a Street Addict,” “You Got Screwed,” “Jim Cramer’s Real Money,” “Jim Cramer’s Mad Money,” and a forthcoming book, “Jim Cramer’s Stay Mad for Life, pub date December 4, 2007. He is a frequent contributor to New York magazine. He has been featured on 60 Minutes, Nightly News with Brian Williams, The Tonight Show with Jay Leno, Late Night with Conan O’Brien, and NBC’s Today with Katie Couric, Matt Lauer and Meredith Viera.
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