Jim Cramer's Real Money Radio Recap 08/04

Recap of Jim Cramer's radio show on Friday August 4.Click on a stock ticker for more analysis:

Any Questions? -"Today is going to be a different kind of show, where I loosen the tie, sit at the corner table and take your questions," says Cramer, who devoted Friday's show to satisfying his listeners' curiosity, and gave the following facts:

*The most money he lost in one year was in $300 million in 2000 when he also made $450 million.

*He lost $15 million in one day on Cendant (CD) when he was on vacation.

*Cramer does not recommend college courses as a way to learn about the market, since the professors are not making money investing, and they tend to make the mistaken assumption that stocks are priced accurately.

*"Booyah!" was coined by a listener who made a small fortune on K-Mart.

*A stock's value depends 50% on what sector it is in (the performance of which is influenced by the Fed) and 50% on the strength of the company.

*The market could crash like it did in 1929, but this is unlikely. It would probably be more like the crash in 1987, or a multiday decline.

*A bad stock does not move up with good news and gets crushed with bad news. Even if everything else is rising, it goes nowhere and has no buyback value. If you have such a stock, Cramer recommends selling a little.

*The most Cramer made in one day was $18 million, but it was not without problems, because he had to cancel a family vacation to Mexico.

Street Jobs - Cramer began managing people's money at Goldman Sachs (GS), and since then, he has had almost every kind of job on Wall Street. He says the best position is to be a full-time trader, who brings the buyer and seller together and is paid well without having to put in ridiculous hours. Cramer recalls having a good time when he was a broker; he took potential clients out to shows and restaurants and made a lot of money. Analysts try to convince private companies to go public, but it is hard to survive at this job, and many analysts are now in hedge funds. Floor-trading used to be great, comments Cramer, but intense surveillance has restrained aggressive floor-trading strategies. Those who work in mergers and acquisitions can make a fortune ($20 million if you're good, $10 million if you're bad), but the job eats up any free time; 'You're sitting in that linoleum cafeteria and trying to drink a little scotch in between making deals on the weekends," comments Cramer.

CEO Evaluation: 3M (MMM) and Boeing (BA) - Cramer says that a good CEO is 50% promoter and 50% operator, and needs to balance the work of running the company with the job of promoting it. He says an example of a bad operator is 3M (MMM) CEO George Buckley, and James McNerney, the CEO of Boeing (BA), is a good operator.

More: Cramer's latest stock picks, including: Mad Money Recap, Lightening Round, Stop Trading and his Radio Show.

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