'Mad Money' takes stiffness out of biz TV
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NEW YORK – Jim Cramer clomps around the set of his television show, “Mad Money,” shouting the praises of the lace-up, knee-high brown Ugg boots on his feet. He runs through a five-minute case for investing in Uggs-maker Deckers...
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NEW YORK – Jim Cramer clomps around the set of his television show, “Mad Money,” shouting the praises of the lace-up, knee-high brown Ugg boots on his feet. He runs through a five-minute case for investing in Uggs-maker Deckers Outdoor Corp. Shares in the company sank too far after it missed profit targets, Cramer says, as he cues the sound of a wailing baby. “But,” he adds, pausing to create just enough suspense to make the audience slide to the edge of their seats, “Deckers has got somebody better than Santa – better than Santa! – on its side. They've got Oprah!” he yells, hitting a button that fills the CNBC studio with a chorus of hallelujahs. Before “Mad Money” ends, Cramer will have bitten the head off a foam bear to signal his bullishness, donned a doctor's coat to play psychiatrist to investors who lie on a couch for a segment called “Am I Nuts?” and convinced his followers that Oprah's mention of Uggs on her show will make Christmas merry for investors. (It rose 26 percent from the time he recommended buying until he recommended selling five days before Christmas.) And, as he does on every show, he will throw a chair, simply because he feels like it. So much for the staid tones, talking heads and platitudes of most financial shows. Cramer, a 50-year-old balding, highly successful former hedge-fund manager whose persona owes more to Crazy Eddie or Sam Kinison than to Louis Rukeyser, may be business television's most histrionic face. “Mad Money,” which started broadcasting in March, attracts 398,000 viewers daily. It is CNBC's most popular show among viewers 25 to 54 years old. During a walk down Wall Street from the offices of TheStreet.com, his online financial-news venture, strangers shout “Booyah!” the show's trademark greeting. “There's the man of the year,” one fan calls. The show's success is the latest uptick in a life with as many peaks and valleys as one of those stock charts Cramer loves to analyze. Born in Germantown, Pa., to Ken and Louise Cramer, a paper-goods manufacturer and a sculptor, respectively, Jim Cramer soon moved with his family to Springfield Township, Pa. As a child, he pored over stock tables, memorizing prices and financial data as if they were sports scores. He was always ambitious and able to juggle many activities. “Sometimes when kids are involved in a lot of things, it's like a pie that's cut in too many pieces, things start to crumble,” said Bob Malehorn, his track coach at Springfield Township High School. “Well, Jim never crumbled.”
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Highlights:
And so, with what he says is $50 million to $100 million in net worth, Jim Cramer quit Cramer Berkowitz.
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