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I'm not going to be totally rationale with my comments, I'm so upset with this. When this kind of stuff happens in any area of life, it needs to be addressed, people punished, laws changed. Cramer's attitude in this film was unacceptable--gloating about cheating, being proud of it!!?? But I'm more upset about what he says he has done, and others have done.
Tomorrow I'll be calmer, but no less determined to find out what this is all about. First, I should first comment that I don't have direct experience with hedge funds, so I lack deep knowledge in the area. I think people that know me would say I have in depth knowledge of running companies; of both private and public companies; and of the stock markets as they relate to companies--plus reasonable knowledge of economics and accounting. Actually in my investing, I have chosen not to invest in hedge funds because I don't really understand what they do--they are referred to in the investor community sometimes as a "black box", because of this lack of knowledge about their methods. (In fact my one somewhat distant knowledge of a hedge fund situation regarding stocks I follow, is when a hedge fund guy tried to play with the stock price of a small company, illegally, and he's been prosecuted, convicted, and is now serving time.)
Second, this guy Jim Cramer is really a weird guy. he says that he ran a successful hedge fund (and maybe he did, I haven't even googled it), but in my experience guys that make lots of money in something, don't have a daily one hour TV show, and Cramer's other activities--websites, etc. Really, why would you do that if you're a successful guy in your profession, that pays a lot of money for success?
third, he looks like he is wacked out on something on the TV show--admittedly I watched it less than 3 times, so maybe he's better sometimes. but as I watched the youtube flick, I thought this guy was an ego maniac, and frankly high on something. I mean he doesn't let the interviewer ask questions--and he just can't wait to show him how "successful and brilliant" he is. Confident, well balanced people just do not act like this guy, either on his show, or on the youtube flick. the guy is just a total (please forgive me for this) asshole!!
But all that aside, this needs to be investigated. <smoke literally coming out of his head>
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