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[[File:Cramer jim.jpg|right|thumb|200px|Jim Cramer]]

[[File:Cramer jim.jpg|right|thumb|200px|Jim Cramer]]

'''James Joseph "Jim" Cramer''' (born February 10, 1955)<ref name=pabook>{{cite web|title=Cramer, James J. (Jim)|url=http://www.pabook.libraries.psu.edu/palitmap/bios/Cramer__Jim.html|author=Michael A. Kowalski|date=Spring 2008|publisher=[http://www.pabook.libraries.psu.edu/ The Pennsylvania Center for the Book]}}, June 6, 2009.</ref> is an [[United States|American]] television host of [[CNBC]]'s ''Mad Money'', he is a former [[hedge fund]] manager, and also a best-selling author.<ref>[http://www.cnbc.com/id/17364946/site/14081545/ Jim Cramer Bio], CNBC.com</ref> Cramer is also a market commentator for TheStreet.com, which he co-founded and of which is he is the largest shareholder. In addition to writing a column for TheStreet.com, Cramer also writes about the [[stock]] market as a columnist for ''New York'' magazine, and he is a frequent contributor to ''[[Time Magazine]]''. He was a founder of and former columnist for ''SmartMoney'' magazine and helped found ''American Lawyer'' magazine.   

'''Jim Cramer''' (full name '''James Joseph Cramer'''; born February 10, 1955)<ref name=pabook>{{cite web|title=Cramer, James J. (Jim)|url=http://www.pabook.libraries.psu.edu/palitmap/bios/Cramer__Jim.html|author=Michael A. Kowalski|date=Spring 2008|publisher=[http://www.pabook.libraries.psu.edu/ The Pennsylvania Center for the Book]}}, June 6, 2009.</ref> is an [[United States|American]] television host of [[CNBC]]'s ''Mad Money'', he is a former [[hedge fund]] manager, and also a best-selling [[author]].<ref>[http://www.cnbc.com/id/17364946/site/14081545/ Jim Cramer Bio], CNBC.com</ref> Cramer is also a market commentator for TheStreet.com, which he co-founded and of which is he is the largest shareholder. In addition to writing a column for TheStreet.com, Cramer also writes about the [[stock]] market as a columnist for ''New York'' magazine, and he is a frequent contributor to ''[[Time Magazine]]''. He was a founder of and former [[columnist]] for ''SmartMoney'' [[magazine]] and helped found ''American Lawyer'' magazine.   

Jim Cramer was born to Polish-American parents in Wyndmoor, [[Pennsylvania]], a suburb of [[Philadelphia]].<ref name=pabook/><ref name=isb>{{cite news|title=Jim Cramer|url=http://www.internationalspeakers.com/speaker/395/jim_cramer|publisher=[http://www.internationalspeakers.com/ International Speakers Bureau]}}, June 6, 2009</ref> He went to Springfield Township High School in Montgomery County, Pennsylvania.<ref>{{cite web|url=http://www.publicschoolreview.com/school_ov/school_id/71004|title=Springfield Township High School|publisher=publicschoolreview.com}}, June 6, 2009</ref> Cramer graduated <i>[[magna cum laude]]</i> from [[Harvard College]] in 1977 with a [[Bachelor of Arts|B.A.]] in [[government]],<ref name=isb/> where he was President and Editor-in-Chief of ''The Harvard Crimson''. After graduation he became a journalist for four years; he worked for the ''Tallahassee Democrat'' and later for the ''Los Angeles Herald Examiner'' before attending [[Harvard Law School]] where he earned a law degree in 1984.<ref>[http://www.thestreet.com/author/269/jim-cramer/all.html Jim Cramer RealMoney columnist], TheStreet.com</ref> In 1988, Cramer married his wife, Karen, and they had their first child in July 1991.<ref name=isb/>  

Jim Cramer was born to Polish-American parents in Wyndmoor, [[Pennsylvania]], a suburb of [[Philadelphia]].<ref name=pabook/><ref name=isb>{{cite news|title=Jim Cramer|url=http://www.internationalspeakers.com/speaker/395/jim_cramer|publisher=[http://www.internationalspeakers.com/ International Speakers Bureau]}}, June 6, 2009</ref> He went to Springfield Township High School in Montgomery County, Pennsylvania.<ref>{{cite web|url=http://www.publicschoolreview.com/school_ov/school_id/71004|title=Springfield Township High School|publisher=publicschoolreview.com}}, June 6, 2009</ref> Cramer graduated <i>[[magna cum laude]]</i> from [[Harvard College]] in 1977 with a [[Bachelor of Arts|B.A.]] in [[government]],<ref name=isb/> where he was President and Editor-in-Chief of ''The Harvard Crimson''. After graduation he became a [[journalist]] for four years; he worked for the ''Tallahassee Democrat'' and later for the ''Los Angeles Herald Examiner'' before attending [[Harvard Law School]] where he earned a law degree in 1984.<ref>[http://www.thestreet.com/author/269/jim-cramer/all.html Jim Cramer RealMoney columnist], TheStreet.com</ref> In 1988, Cramer [[marriage|married]] his [[wife]], Karen, and they had their first child in July 1991.<ref name=isb/>  

== Investing career ==

== Investing career ==

Cramer's fund had one down year in 1998, a year that proved 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. In 1999 the fund returned 47%; in 2000, Cramer's fund finished up the year +36%, compared to -11% for the S&P 500 and -6% for the Dow Industrials.<ref name="bw20051031"/>  

Cramer's fund had one down year in 1998, a year that proved 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. In 1999 the fund returned 47%; in 2000, Cramer's fund finished up the year +36%, compared to -11% for the S&P 500 and -6% for the Dow Industrials.<ref name="bw20051031"/>  

Cramer spent nearly 14 years at his hedge fund, where he routinely took home $10 million a year and more.<ref name="bw20051031"/> Jim compounded rate of return of 24% after all fees for 15 years at ''Cramer Berkowitz''. After the tech bubble burst, he retired from his hedge fund in 2001, where he finished with one of the best records in the business, including having a plus 36% year in 2000.<ref>''Jim Cramer Bio''. [http://www.cnbc.com/id/17364946/site/14081545/], ''Mad Money w/ Jim Cramer'', CNBC.com.</ref> He turned the company over to his long-time partner, Jeff Berkowitz. While Cramer's success in producing high returns for his fund was unmistakeable, he began to concentrate on his passion for [[journalism]].<ref name=isb/>  

Cramer spent nearly 14 years at his hedge fund, where he routinely took home $10 million a year and more.<ref name="bw20051031"/> Jim compounded rate of return of 24% after all fees for 15 years at ''Cramer Berkowitz''. After the tech bubble burst, he retired from his hedge fund in 2001, where he finished with one of the best records in the [[business]], including having a plus 36% year in 2000.<ref>''Jim Cramer Bio''. [http://www.cnbc.com/id/17364946/site/14081545/], ''Mad Money w/ Jim Cramer'', CNBC.com.</ref> He turned the company over to his long-time partner, Jeff Berkowitz. While Cramer's success in producing high returns for his fund was unmistakeable, he began to concentrate on his passion for [[journalism]].<ref name=isb/>  

At the age of 44, Cramer is said to have accumulated a net worth of $58 million.<ref>John Abbott. [http://www.time.com/time/digital/digital50/49.html Street Smartypants], ''TIME'' Digital 50.</ref>

At the age of 44, Cramer is said to have accumulated a net worth of $58 million.<ref>John Abbott. [http://www.time.com/time/digital/digital50/49.html Street Smartypants], ''TIME'' Digital 50.</ref>

== TheStreet.com ==

== TheStreet.com ==

Cramer's impact on [[Wall Street]] trading became even stronger in 1996, when he and Peretz each took 35 percent ownership of ''TheStreet.com'', an online financial news company and publication for investors appearing on the [[World Wide Web]].<ref name=cbc/>  TheStreet.com, Inc. is considered to be a leading financial media company that has distinguished itself from other financial Web sites with its journalistic excellence and unbiased coverage of the financial markets, economic and industry trends, and investment and financial planning.<ref>[http://resources.bnet.com/topic/thestreet.com+inc..html TheStreet.com Inc.], ''BNET'' resources.</ref> Among the most [[popular]] columns — viewed by millions of readers weekly at ''TheStreet.com'' — are ''Top 10 Stocks''; ''You Ask, Cramer Answers''; ''Jim Cramer's Portfolios of the Week''; ''The Five Dumbest Things on Wall Street This Week''; ''Wednesday's Analysts' Upgrades and Downgrades'', and ''Readers' Picks: The Street.com's Top 10''.<ref>[http://www.thestreet.com/static/about/index.html TheStreet.com], "About Us".</ref>

Cramer's impact on [[Wall Street]] trading became even stronger in 1996, when he and Peretz each took 35 [[percent]] ownership of ''TheStreet.com'', an online financial news company and publication for investors appearing on the [[World Wide Web]].<ref name=cbc/>  TheStreet.com, Inc. is considered to be a leading financial media company that has distinguished itself from other financial Web sites with its journalistic excellence and unbiased coverage of the financial markets, economic and industry trends, and investment and financial planning.<ref>[http://resources.bnet.com/topic/thestreet.com+inc..html TheStreet.com Inc.], ''BNET'' resources.</ref> Among the most [[popular]] columns — viewed by millions of readers weekly at ''TheStreet.com'' — are ''Top 10 Stocks''; ''You Ask, Cramer Answers''; ''Jim Cramer's Portfolios of the Week''; ''The Five Dumbest Things on Wall Street This Week''; ''Wednesday's Analysts' Upgrades and Downgrades'', and ''Readers' Picks: The Street.com's Top 10''.<ref>[http://www.thestreet.com/static/about/index.html TheStreet.com], "About Us".</ref>

== Mad Money ==

== Mad Money ==

On July 8, 2008 Jim brought up the possibility of bank failures. In his article, 'Look At The Facts'<ref>{{cite news |title=Look at the Facts |url=http://www.thestreet.com/p/_search/rmoney/jimcramerblog/10432518.html |publisher=TheStreet.com |author=Jim Cramer}}, July 8, 2008</ref> 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." The following day on July 9, 2008, during a segment on Mad Money Cramer again pointed out the forthcoming Financial Collapse. "Most frightening," Cramer said, "is the silence from those in the government who could take action but haven't. If silence means there is no plan, that's trouble for everyone."<ref>{{cite news |title=A Tribute to Jim Cramer's Mad Money |url=http://derekerwin.blogspot.com/2009/03/tribute-to-jim-cramers-mad-money.html |publisher=A 1-In-100 Blogger |author=Derek Erwin}} March 17, 2009.</ref> A few months later on September 15, 2008, the beginning of the market meltdown occurred.<ref>{{cite news |title=Lehman Files for Bankruptcy; Merrill Is Sold |url=http://www.nytimes.com/2008/09/15/business/15lehman.html?_r=1 |publisher=The New York Times |author=Andrew Ross Sorkin}} September 15, 2008.</ref>

On July 8, 2008 Jim brought up the possibility of bank failures. In his article, 'Look At The Facts'<ref>{{cite news |title=Look at the Facts |url=http://www.thestreet.com/p/_search/rmoney/jimcramerblog/10432518.html |publisher=TheStreet.com |author=Jim Cramer}}, July 8, 2008</ref> 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." The following day on July 9, 2008, during a segment on Mad Money Cramer again pointed out the forthcoming Financial Collapse. "Most frightening," Cramer said, "is the silence from those in the government who could take action but haven't. If silence means there is no plan, that's trouble for everyone."<ref>{{cite news |title=A Tribute to Jim Cramer's Mad Money |url=http://derekerwin.blogspot.com/2009/03/tribute-to-jim-cramers-mad-money.html |publisher=A 1-In-100 Blogger |author=Derek Erwin}} March 17, 2009.</ref> A few months later on September 15, 2008, the beginning of the market meltdown occurred.<ref>{{cite news |title=Lehman Files for Bankruptcy; Merrill Is Sold |url=http://www.nytimes.com/2008/09/15/business/15lehman.html?_r=1 |publisher=The New York Times |author=Andrew Ross Sorkin}} September 15, 2008.</ref>

On Hardball with Chris Matthews for September 19, 2008, Cramer suggested, "It's not too late to be on the sideline." On this day the Dow was resting at 11,388.<ref>{{cite news |title='Hardball with Chris Matthews' for September 19, 2008 |url=http://today.msnbc.msn.com/id/26841599/ |publisher=MSNBC TV |author=Jim Cramer}}, September 19, 2008.</ref> 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."<ref>{{cite news |title=Jim Cramer: Time to get out of the stock market |url=http://www.msnbc.msn.com/id/27045699/ |publisher=Today MSNBC |author=Michael Inbar}}, October 6, 2008.</ref> By February 24, 2009 the Dow was down to 7,351; since Jim Cramer's first warning to investors the DOW plunged some 3,000 points, ultimately it had plummeted 36% over the next five months.<ref>[http://www.cnbc.com/id/33330840 Cramer’s ‘Get Out’ Call: One Year Later], CNBC, October 15, 2009.</ref>

On Hardball with [[Chris Matthews]] for September 19, 2008, Cramer suggested, "It's not too late to be on the sideline." On this day the Dow was resting at 11,388.<ref>{{cite news |title='Hardball with Chris Matthews' for September 19, 2008 |url=http://today.msnbc.msn.com/id/26841599/ |publisher=MSNBC TV |author=Jim Cramer}}, September 19, 2008.</ref> 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."<ref>{{cite news |title=Jim Cramer: Time to get out of the stock market |url=http://www.msnbc.msn.com/id/27045699/ |publisher=Today MSNBC |author=Michael Inbar}}, October 6, 2008.</ref> By February 24, 2009 the Dow was down to 7,351; since Jim Cramer's first warning to investors the DOW plunged some 3,000 points, ultimately it had plummeted 36% over the next five months.<ref>[http://www.cnbc.com/id/33330840 Cramer’s ‘Get Out’ Call: One Year Later], CNBC, October 15, 2009.</ref>

=== Academic study ===

=== Academic study ===

=== Jon Stewart ===

=== Jon Stewart ===

On March 12, 2009, Jim Cramer appeared on ''[[The Daily Show]]'' with [[Jon Stewart]].<ref>{{cite web |url=http://www.thedailyshow.com/full-episodes/index.jhtml?episodeId=220533 |title=Daily Show interview of Jim Cramer |work=The Daily Show with Jon Stewart |publisher=comedycentral.com}}, March 14, 2009.</ref> Stewart reiterated earlier claims regarding the CNBC host's "silly and/or embarrassing and/or stupid financial observations."<ref>{{cite news |title=CNBC's Jim Cramer Responds to Jon Stewart's Response to CNBC's Jim Cramer |url=http://blog.indecisionforever.com/2009/03/10/cnbcs-jim-cramer-responds-to-jon-stewarts-response-to-cnbcs-jim-cramer/ |publisher=Comedy Central}} March 10, 2009.</ref> Moreover, he claimed CNBC shirked its journalistic duty by believing corporate lies, rather than being an investigative "powerful tool of illumination."<ref>{{cite web |url=http://journalism.about.com/b/2009/03/13/106.htm |title=In the Jon Stewart-Jim Cramer Bout, It's Stewart By a Knockout |publisher=About.com: Journalism}}, March 13, 2009.</ref> 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."<ref>{{cite web |url=http://www.thedailyshow.com/video/index.jhtml?videoId=221517&title=jim-cramer-unedited-interview|title=March 12, 2009: Jim Cramer Unedited Interview Pt. 2 |publisher=''Comedy Partners''}} March 12, 2009.</ref>

On March 12, 2009, Jim Cramer appeared on [[Comedy Central|Comedy Central's]] ''[[The Daily Show]]'' with [[Jon Stewart]].<ref>{{cite web |url=http://www.thedailyshow.com/full-episodes/index.jhtml?episodeId=220533 |title=Daily Show interview of Jim Cramer |work=The Daily Show with Jon Stewart |publisher=comedycentral.com}}, March 14, 2009.</ref> Stewart reiterated earlier claims regarding the CNBC host's "silly and/or embarrassing and/or stupid financial observations."<ref>{{cite news |title=CNBC's Jim Cramer Responds to Jon Stewart's Response to CNBC's Jim Cramer |url=http://blog.indecisionforever.com/2009/03/10/cnbcs-jim-cramer-responds-to-jon-stewarts-response-to-cnbcs-jim-cramer/ |publisher=Comedy Central}} March 10, 2009.</ref> Moreover, he claimed CNBC shirked its journalistic duty by believing corporate lies, rather than being an investigative "powerful tool of illumination."<ref>{{cite web |url=http://journalism.about.com/b/2009/03/13/106.htm |title=In the Jon Stewart-Jim Cramer Bout, It's Stewart By a Knockout |publisher=About.com: Journalism}}, March 13, 2009.</ref> 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."<ref>{{cite web |url=http://www.thedailyshow.com/video/index.jhtml?videoId=221517&title=jim-cramer-unedited-interview|title=March 12, 2009: Jim Cramer Unedited Interview Pt. 2 |publisher=''Comedy Partners''}} March 12, 2009.</ref>

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."<ref>{{cite web |url=http://www.cnbc.com/id/27850397 |title=Out with Cox, in with Uptick Rule |publisher=CNBC}} November 21, 2008.</ref>

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."<ref>{{cite web |url=http://www.cnbc.com/id/27850397 |title=Out with Cox, in with Uptick Rule |publisher=CNBC}} November 21, 2008.</ref>

[[Category:Economists]]

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