Why I No Longer Watch Jim Cramer

I’ve been on Twitter for about a month now and if you’ve been following me, you’re no doubt annoyed with the intrusion on your lives.
Sorry, but an addiction is an addiction. They’re very tough to break.
CramerSo too was my addiction to Jim Cramer. So much so, that when I was in the insane commuting phase of my life, flying to and from Boston every week for about 7 years, I always made certain to DVR Mad Money shows that I was likely to miss.
My DVR, with some sort of developing artificial intelligence based on my predictable behavior, would get concerned and break out in a cold sweat if I forgot to program it for CNBC at 6 PM.
I actually broke out in a cold sweat when CNBC paired back airings from 3 each day to just two.
I mention my Sugar Momma with some frequency in my blogging and book. We have had very few substantive disagreements over the more than 25 years of marriage. However, one such disagreement was over Jim Cramer.
She couldn’t stand his voice.
“Why is he always yelling? He gives me a headache”.
The fact that she preferred to switch the station to watch “Judge Judy” for some reason didn’t seem incongruous to her.
Talk about irritating.
Anyway, in the short time that I’ve been on Twitter, it would be nearly impossible to not realize how much venom is (mis) directed at Jim Cramer.
One of the great conflicts that I’ve had in my life is similar to one that I experienced as a child.
Back then, our family used to go away for summers to the “Bungalows” in what used to be considered Upstate New York, but what eventually became a commuting town just outside New York City.
During summers, you would actually develop an entirely new circle of friends.
Your summer friends. Because they were in such far flung boroughs as Brooklyn and Queens, there was no possibility of ever seeing them during the rest of the year. In fact, even some portions of The Bronx were just too far away to be conquered.
After a few years, I had developed a great summer relationship with Kenny, and one year I was so happy that he was going to visit me at my non-summer home and get to meet my rest of the year best friend, Sidney.
Long story short, they hated each other.
And so it was when Jim Cramer appeared on Jon Stewart’s “The Daily Show”.
So I should be used to slings and arrows being hurled at him.
Yesterday, though a a really disturbing Tweet was referenced by someone I followed, who described it as the most disgusting Tweet of the day.
In essence, without repeating or glorifying that Tweet, the writer, while offering some condolences regarding the sudden passing of Mark Haines made certain to mention that if the same fate were to meet Jim Cramer, the markets would celebrate.
Human nature being what it is, I had to treat this Tweeter as if he was Roadkill, in that I had to give into my curiousity and check it out.
Typical Penny Stock idiot filled with hatred. Probably has an unusually small penis, as well.
I ‘ve always liked to say that Penny Stock traders are like Gangbangers. They don’t survive into adulthood.
Why I chose to capitalize “Penny Stock” and “Gangbangers” is beyond me. They certainly don’t warrant that kind of respect.
This fellow clearly has a lot of growing up to do. I’m not hopeful for that ever occuring.
But let’s get to why I don’t watch Cramer anymore.
That’s because Cramer did his job.
He’s always said that his goal was to educate and entertain. No one does it better than he does.
No matter how much you respect education, it’s time to move on.
I did.
After two graduate degrees, coincidentally from the same institutional parent that Cramer attended (and at the same time) and another 20 years in advanced education, I finally moved onto the “dark side”. Time to put all of that education to use and make some real money.
As respected and buttoned down as the late Louis Ruykeyser was, he had nowhere near the impact of Jim Cramer on demystifying the world of the markets and educating everyone with access to basic cable.
It was more than Brooks Brothers three piece suits versus rolled up sleeves.
I listened and watch intently for years and Cramer taught me how to think with regard to investments and market psychology. I still can’t understand why he gets so much blame for his opinions and calls. He always warns people to do their own due diligence and to not plow forward.
If you ever watched the ticker in the after hours as he spoke, you realized that greed overtook common sense and people just ignored Cramer’s rules.
One of the things I learned from Cramer was the need to wean.
For a while I ran a subscription service offering very short term covered call plays. In my home page, FAQ’s and disclosures I made it clear that if I was really doing my job properly, subscribers should be able to go out on their own after just a few months, because the strategies were intended to be non-proprietary and transparent.
Additionally, I ran a subscription service for members of an affinity group to which I belonged. An additional disclosure for those potential subscribers was that as a member of an affinity group they were uniquely poised to be taken advantage of by predators. After all, how could you not trust someone from your own caste?
The program was a day to day service and was also very limited with regard to the number of subscribers that I could handle. But there too, the intention was clearly made that subscribers should be able to move out on their own after a few months.
Like a Momma bird, I was proud to see them go and even more proud when a number of the past subscribers suggested that I codify the Option to Profit strategies in a book, aptly named Option to Profit.
So thank you Jim Cramer. Momma Bird.
You gave me an education and set me off to soar on my own.
Addendum: Although I no longer watch Cramer’s Mad Money, I listen raptly to his other on-air appearances throughout the day. I think he was an excellent addition to the latest iteration of Squawk on the Street. I think Mark Haines would be pleased, as well.
Sidney and Kenny? Lost track of each of them. Sidney moved to Vermont and Kenny to Florida. Talk about opposites.
Yet another Addendum: On March 14, 2012 Cramer’s Mad Money celebrates his 7th Anniversary on air. Congratulations. I’ll be watching, since Sugar Momma is in California for a few more days. I know where my bread is buttered.
Oh, but I was able to uncover from the CNBC archives my audition tapes for the original Mad Money show.
In hindsight, I think my gimmick over throwing dixie cups was a little under the top.