Jim Cramer: Sometimes I Hate Myself

Great Jim Cramer-penned piece in the current NY magazine on ... himself. My friend Jim explains why he is such a polarizing figure, and explains why there is a market for his Mad Money show and its particular brand of "idiocy". But there's much more, with the cogent and brutally honest piece evolving into something ready for the next edition of Karen Horney's classic "The Neurotic Personality of Our Time".

Over the objections of just about everyone at CNBC, Jeff Zucker green-lighted the idea after I made a direct appeal to him. Mad Money debuted that month. On the show, I say stupid things, yell “Booyah” with alarming frequency, and occasionally wear a diaper or jump into a pile of lettuce to illustrate the finer points of investing.

God knows why, but there seems to be a market for this kind of idiocy. In that first year, the ratings took off; the network put the show in not one, not two, but three time slots; I made the cover of Business Week; and less than a year later, I was improbably filling college halls with cheering student fans (for some reason, college kids are an especially eager audience for my show). But sometimes it feels like for every person who likes what I do, there are a dozen who hate me for it. Mad Money has spawned legions of haters, people who write about the show and my character in really negative, sometimes pretty nasty ways. These people accuse me of being a clown or an idiot. Usually, I agree with them. When people ask for my autograph, I instantly hate myself. Half the time I don’t believe I even deserve a television show, and the other half I spend believing that no one is more deserving of a show. Slap me and I’ll change my mind like Faye Dunaway in Chinatown.

It reminds me of a well-known (and somewhat sad) David Letterman-related anecdote from the 1980s:

One evening some years ago, during a commercial break in The Late Show with David Letterman, Terri Garr, one of the guests, attempted to converse with her host. "How are you doing?" she inquired brightly. Letterman, wincing at the loudness of the house band, picked up a pad from his desk, scribbled something down and passed it to her. The note read simply: "I hate myself." Garr tried her best to point out that he was the best in the business - witty, inventive, original. He grabbed the pad again, underlined "I hate myself", and pushed it back.

Disclosure: As usual, I'm wildly conflicted and so you should, if you choose, only read for adverbs. Because I write for the Cramer-founded TheStreet.com, I am a CNBC analyst (where Mad Money appears), and I have appeared on Kudlow & Cramer in the past. I'm sure there's more.

Comments

[Malkiel:]

I notice the biggest Cramer-haters in print are the perma-bears who seem to be rubbed the wrong way by his enthusiastic bullishness. Well, too bad, neverending bearishness has no statistical justification based on the history of the market's performance, so taking down Cramer won't make them right...

2007 May 30 10:36 AM

[Eugene Babicz:]

Kramer,
Your self effacing antics are a coverup for your deep thinking and your wast sea of knowledge. You are a typical Shakesperian clown. So be careful and wear some armour under your shirt and pants and, of course, steel cup.
I am just one of your foot soldiers at 70 years of age.

2007 May 30 12:52 PM

[patc:]

I worked in "institutional" type wall street firms for over 25 years. One, for over 15 years. Mostly as a trader. Cramer is a "customer" I have seen versions of many times. They are demanding of "salespeople" who cover them. They don't tolerate salespeople who are not focused, diligent, market savy and paying attention when they are working. He was rough on his peers I am sure.They weed out people they don't like or respect and make sure the people who make the cut get paid for their efforts. I recognzed him immediattely as someone who knew how lucky he was, made lots of money in a difficult, competitive enviornment. Now he wants to give back, not to the crowd he made the money with, they don't need his help. He is giving back to the little guy, the people who aren't privy to the inside research or the muscle guys like he used to be. He can't stand seeing "retail" salespeople, gliding thru the day, taking advantage of their customers just because they aren't in the business. Bravo Cramer...
Patrick C

2007 May 30 01:05 PM

[Jerry Crafton:]

Jim Cramer seems more then capable of defending him opinions. lol I like the show but do not really care for some of the antics but they do get his point out there. I can say that his wisdom has helped me and I wish I would have paid more intention to the off the cuff comments he makes. I lost 90% of my portfolio trying to wait out a bad trade. The overall markets go up because the bad companies are weeded out, replaced with new ones. The average person would not figure this out on thier own.

2007 May 30 06:00 PM

[Jackie F:]

I have enjoyed Cramer for 2 years - and I think he insults our intelligence by calling himself a clown, etc.
Many of us are new to investing and pick and choose who we listen to. How I trade is based on an accumulation of "stuff", Cramer being one of them. Cramer is most likely responsible for getting the individual investor actively trading, which has led to the robust condition of the market today. This is a factor that has not been considered!

2007 May 30 11:02 PM

[FIG trader:]

Only other real gems lacking grounding in anything worth having (socially or intellectually) could possibly find something to like in this caricature of a human. As far stock picks are concerned, the road is littered with the likes of his former followers. Your sorry-ass carcass is next should you be new to his rants.

2007 May 31 07:07 AM

[Paul Meisel:]

Jim Cramer just brings humor and perspective to a business that is mostly filled with stuffed shirts and empty suits.

His opinions and arguments are mostly well-reasoned, and when he blows one he admits it. Sounds admirable to me........

2007 May 31 09:48 AM

[Chuck Ashley:]

Jim Cramer us the greatest and he trys very hard to advise the small investor and no one else has ever done that, so he is one of a kind. He appreciates the success he has had so much that he wants to share some with his viewers and I think he is in a world of his own. Most of the stocks he recommends increase in value.
I am a small investor over 65 with not much money to plow into stocks, but Jim Cramer is the greatest.

Chuck Ashley
[e-mail]

2007 Jun 01 11:28 AM

[FIG trader:]

Chuck,
Thanks, I see you found out about me right near the peak of the 2000 bubble. Perhaps, you can get a reverse mortgage, then I will try my darnest to keep my record perfect for your golden years. If not, a reverse mortgage or a Condo in South Beach ought to do the trick.
Yours truly
Jim

2007 Jun 01 04:55 PM

[mquemadam:]

I really like this guy.. Who else would take the time to put fun into an otherwise boring subject?He does not need this job as I'm sure he has enough in the bank to retire ten times over. Give the guy a break. You know nothing!
mq

2007 Aug 19 08:02 PM