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Confessions of a Street Addict

Confessions of a Street Addict

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Rating: 1 stars
Summary: Confessiones of a Crazed Addict
Review: This book was poorly wrtten and did not entertain at all. There are many other books on traders and trading that are much more exciting. Cramer seems to be very much full of himself here. More recent accounts have brought to light some nefarious activity by Cramer and his hedge fund. Send a copy to Elliot Spitzer.

Rating: 4 stars
Summary: an objective defense
Review: Jim Cramer's love/hate relationship with the public illustrates the problem of fame. It also illustrates why most top traders avoid the limelight like the plague. Being well known as a trader is a losing game.

On the one hand, you have a bunch of know nothings who worship the ground you walk on because they think you are some kind of magician. All this does is puff up your ego and tempts you into developing a superman complex, an extremely dangerous thing for a trader (I'm not aware of any studies, but I'd be willing to bet my last dollar there is a positive correlation between fame and flameout).

On the other side of the coin, you have an equal number of people who mindlessly hate you or resent you, who believe in their emotion driven hearts that you must be a criminal or a fraud, simply because you have vast sums of money and they do not. I mean, it's laughable to see how many people call Cramer a fraud who should go to jail. Their resentment practically leaps off the page, most likely because they got their heads handed to them when the market collapsed and they want someone to blame. For anyone who is in this camp, do you really have so little self respect and responsibility that you are willing to blame your greed and your naivete and your stupid decisions on some guy's magazine article or website commentary? Please.

I think Cramer wound up in the limelight not because of his trader side, but his writer/journalist side. Writers are the opposite of traders: while traders crave anonymity, writers want the whole world to read their words. Hence the position where Cramer finds himself: trying to tame the monster he has created, using publicity to turn the public back in his favor and overcome the cry of scapegoat resentment against him. And it is a tough, tough thing to overcome, because the main stream media are ruthless carnivores. They will take you down in a heartbeat if it makes good press, but when they owe you an apology? It rarely even makes the fine print.

I started reading thestreet.com/realmoney back in 1999, strictly for entertainment purposes (my style is too short term to make much room for fundamentals). I don't really follow it, though I check in from time to time. My initial impression of Cramer then, and one that still holds now, is that he is basically a brash, amusing loudmouth, BUT a loudmouth who has walked his talk and knows what he is talking about. I mean good grief, the guy has made a personal fortune of something like a hundred million from the markets- not as a broker, not as a salesman, but as a trader. Going toe to toe with the market day in and day out. Whatever you think of his personality, love it or hate it, you have to give him respect for that. He could be doing awful now, his advice could be lame, and it would not take away from that accomplishment. I'm not saying his commentary IS bad by the way- I'm only saying if it is, so what, don't pay for it.

And I don't understand the complaints that there were not many trading insights either. This is a biography, folks. Usually when someone's picture is on the cover of a book, it's a hint.

I believe that it is possible to have respect for someone's ability and accomplishments whether you like that person or not (we do it all the time in professional sports). Like him or hate him, Cramer has moxie and he's walked his talk. I give him respect for that.

Rating: 5 stars
Summary: Best of Breed
Review: The most interesting and informative book on Wall Street that
has been written in years. Right up there with 'Only Yesterday'
(Allen), and 'The Great Crash, 1929' (Galbraith).

For sure, Cramer is all too human. Jim is a person that we all
want to love, but he sure makes it difficult at times.

But, judging the book rather than the person, this is a must read.

Rating: 5 stars
Summary: CRAMER AT HIS BEST......
Review: you might not agree with his john madden " in your face " type personality...you might not like the fact that cramer has been SO successful...BUT, I refuse to believe that once you finish this book, that your perceptions will not change...

FULL DISCLOSURE: I AM A HUGE CRAMER FAN....the man, his work ethic, his hunger, his passion, HIS STRUGGLES, HIS SLEEPING IN A CAR, and him becoming the best at what he did only INSPIRES ME.

this book is a FABULOUS read, insighful, funny, passionate...typical cramer at his best....how many top traders give you a open view of how they became great?..how many leaders in any industry for that matter?

READ THIS BOOK AND GIVE YOURSELF A OPEN MIND TO FALL IN LOVE WITH THE MAN...

if you liked ROCKY...YOU WILL LIKE CONFESSIONS OF A STREET ADDICT.

Rating: 1 stars
Summary: Not What It Appears To Be
Review: Cramer does not make any confessions in this book. The book's narrative is done in a way that Cramer lets the reader know only what he wants him to know. In other words, the information is overly managed and provides few insights into Cramer as a confession would. This style makes good copy for lawyers and nerds, but is rather stale and dull for readers who are looking for more substance. I am sorry to say that this book is more about marketing and hype than a good story.

Rating: 5 stars
Summary: Cramer tells an exciting story
Review: I bought the book on CD because I thought I would listen to it in my car. I liked it so much I just listened to it right after opening the package. It's not a book about how to trade or how to invest, but rather the story of his trading life. And what a story! Cramer gives an insight into the life of a person trading big money. He also details his successes and failures with ... I simply find his story exciting. If you like Cramer on television or the internet, I think you will like the story, especially on CD since he narrates it himself with all of his emotion.

Rating: 4 stars
Summary: Good way to temper your trading knowledge
Review: Kramer writes an eye-opener in terms of what is said and done behind the doors of those seemingly all-powerful traders we label as money managers. I like to think that this book helps to round out the day trading techniques that I learned in Jeff Cooper's Hit and Run Trading books. This book provides a great perpective that would-be successful traders should not ignore.

Rating: 5 stars
Summary: New Classic - will still be useful 20 yrs from now
Review: This is a new classic stock market book, absolutely up there with John Train's "Money Masters" and Lefevre's "Reminiscences of a Stock Market Operator." Cramer's "Confessions of a Street Addict" is a well written, honest view of professional money management and the Internet bubble. Much more useful than Liar's Poker (which I liked) -- actually no comparison, because this is a book by a market pro as compared to a market neophyte.

The view of Cramer's transition from stock picker (where he was lucky and good) into professional hedge fund manager is insightful. Another useful story is Cramer Berkowitz's near downfall in 1998, brought about by a 40% down period and massive client redemptions.

Try to discount the diatribes, vitriol and hyperbole -- that's just Cramer. Good money managers are all a little strange. :)

Rating: 4 stars
Summary: Get It
Review: I'm a professional software developer who daytrades and loves
the market.

I've been reading JJC ...for about as long as he's been writing there and I lived thru the dotcom bubble both as a participant and a daytrader.

'Confessions of a Street Adict' by James J Cramer is a must read. You'll emerge from his fascinating story a smarter, wiser and richer person. And when you've finished the book, check out his website ..., where he continues his valuable and irreverent work. His insights will make you money.

Rating: 5 stars
Summary: An instant classic, no lie
Review: This book is an instant classic. Absolutely up there with John Train's "The Money Masters" and Lefevre's "Reminiscences of a Stock Operator." You *will* take away useful information -- "Confessions of a Street Addict" is a must read for any active trader.

Couple of quick examples: Cramer's description of his own difficult transition from stock picker and broker to hedge fund manager is illuminating. Similarly, the emotional environment at Cramer Berkowitz when they almost went under in '97 is very worthwhile reading.


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