http://www.deepcapture.com/category/1-the-players/
....In 1988, Karen joined Cramer & Company. The fund performed well at first, and Jim and Karen married. In 1990 she became pregnant but kept working. In 1992, Cramer & Co. hired Jeff Berkowitz from Columbia Business School. Cramer described their evolving business model succinctly:
“We had it down to a science in 1992: my wife would pick stocks that technically looked ready to go up, or she would keep track of merchandise to see what was down to tag ends. She would then generate a list of stocks that could move quickly on good news. Jeff would then go to work calling the companies to try to find anything good we could say about them. I would call the analysts to see I they were hearing anything. When we found a stock that looked ready technically to break out, or where the supply had been mopped up, and Jeff found something positive at the company, and I knew the analyst community didn’t know anything positive, we would load up with call options and common stock and then give the good news to our favorite analysts who liked the stock so they could go do their promotion. That would get the buzz going and we would then be able to liquidate the position into the buzz for a handsome profit.” (Confessions of a Street Addict, page 61).
In his pride at mastering “down to a science” the art of manipulating public interest, Jim left unstated how he felt about the public that, once its interest had been so stimulated, found itself on the other side of the trades from which Jim was profiting. In fact, Jim seems to have a tin-ear for his own words, because, as I said earlier, what he describes above would have seemed patently illegal to Wall Street folks of a generation ago, for the reasons I described at the outset of this piece.
Years later, in a venue he apparently did not anticipate would become public, Jim described how he really felt about those compliant analysts and reporters he manipulated artfully and with such apparent ease.... Jim Cramer displays his comfort with stock manipulation in ways that he claims no no one else will admit, but which are illegal and beyond the capacity of the SEC to grasp, as he sees it. Also throughout it Jim displays his thorough comfort at fleecing the rubes (that is, cheating other market participants by manipulating stocks): in fact, the video is an exercise in Jim’s pride in that direction.
http://antisocialmedia.net/?page_id=87http://antisocialmedia.net/?page_id=61
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