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Confessions of a Street Addict Paperback – June 6, 2003
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From Publishers Weekly
Copyright 2002 Cahners Business Information, Inc. --This text refers to the Unbound edition.
Top Customer Reviews
Cramer doesn't strike me as a charismatic guy. But you have to be impressed with where he started and where he ended up. Maybe his tactics were questionable. But to compete in the money arena with the fortunes at stake, it is impressive that he was able to even be on the field and favorably compete at least for a few years.
There are two significant relationships in the book I feel compelled to mention. First the investor who Cramer met who not only invested but recommended investors. This also turned out to be the relationship that Maier knew to get his job. A partnership was formed to set up TheStreet.com and somehow in the personnel problems of the venture, Cramer had a falling out with his favored investor that appeared to eventually leading to the shutdown of the hedge fund. You can sense from hearing Cramer's side that there is another side to the story.Read more ›
What makes this book so interesting is that it is neither a tearful apology nor a chest-thumping self congratulation. Cramer matter of factly details his journey to success as well as the toll it took on his personal life including his utter insensitivity in dealing with his family.
The passages dealing with His wife alone are worth the price of the book. The woman is nothing short of amazing both as the "Trading Goddess" that truly lives up to her name as well as the woman who puts up with a workaholic husband that is virtually never around when she needs him.
All in all, this is a fascinating book that anyone would do well to read.
But he is one of the very few investors/traders that I have ever heard say "I was wrong about this stock or this company, and I don't have any problems admitting it", and I give him credit for that. The guy seems, if not honest, at least sincere to me. And I guess brashness, arrogance, sincerity, his loud mouth and the fact that he craves public attention make of Jim Cramer a highly colourful, flamboyant character. I'm always interested in what he has to say, even if I don't agree with him: sometimes, when he's on tv, the guy can be downright funny in his own way!
And so, not very enthusiastically I picked up this book and began reading it on a rainy weekend. Contrary to some of the readers who have posted reviews here at Amazon.com, I didn't really expect to learn any valuable trading methods or technical stuff, since the book's title is "Confessions" and not "Methods". No, as a matter of fact, when I think about it, I did learn something original. Cramer's idea of visiting department stores to find the next big thing and asking the right questions to the store clerks was very amusing to me.
This turned out to be a very honest, sincere and interesting book indeed. I was amazed by a few things in particular though:
1-Dedication, hard work and brains do pay in life.Read more ›
This book answers some of those questions, and answers a whole lot more. It starts when he graduates from college, and follows him through journalism, law school, and through the investment world, culminating when he hangs up his hedge fund at the peak of success. He didn't get too far from the lifestyle though, as you can tell from his omnipresent, uh, presence.
I didn't like him going in, but the book made me look at him in a new light. There are so many lessons, and so much truth in this book that I have to give it my highest recommendation. Even if you don't agree with Cramer's analysis and investing style, you should read this book! I'm a religious listener to his Real Money podcast, and though it makes Ben Graham roll over in his grave, this guy has done it all, and genuinely wants to help people make money. That's at least partially because I think he wants recognition as a guru- he makes money from thestreet.com, but he doesn't need it. If all he wanted was money, he'd still be at his hedge fund.
If this book teaches nothing else, it proves that the average person sitting at home has no hope of competing with hedge funds as a day trader. They have too much info and control too much money. You have no chance of beating professional (i.e. Wall Street)day traders at their game. Not that there aren't other ways of beating the street- it's just that you are inevitably scooped if you ever think you're making a move on folks when it comes to trading (vs. investing).
And, it's a good story. This book gets the seal of approval.
Most Recent Customer Reviews
Jim offers a history lesson on his life, where he started, what he learned about finance, and shares great insight into Wall Street. Read morePublished 24 days ago by Amazon Customer
I watch Cramer every morning on CNBC. I am a beginning day trader. Also this is the story of love between he and his wife.Published 1 month ago by mmcleodamcom99
Excellent book. If you trade or ever wanted to know what it's like to manage a hedge fund or what it's like to trade the market for a living, this book will give you a great peak... Read morePublished 2 months ago by R. Johns
Great book on what it takes to be a successful hedge fund manager and now I know I do NOT want to be one. Thank you, Jim, for the insight!Published 5 months ago by Cletus
This is the story of a true sociopath. The type that would have his own mother put down if he made a profit from it. Lies, lies and more lies, about investments for the gullible. Read morePublished 8 months ago by DONALD D ROBERSON