From the looks of this vintage Frontline clip, Mad Money’s Jim Cramer made his own version of PTJ’s infamous documentary, “Trader.”
One year before he lost $91 million, says the intro to the video, Cramer allowed a TV crew from Frontline to document his daily activities.
The two minute clip from the feature (below) is a fun watch, especially the moment at 00:40 when he screams, “I want an offering at 1000! I want an offering at 1000! YES! Double down!” Priceless. So is his hair.
But the best thing about watching the vintage 1997 Frontline video is realising that Jim Cramer you see on CNBC’s Mad Money show is not an act. It’s obvious that the man was meant to be on TV. He really does think and talk in sentences that end in exclamation points.
That moment of realisation comes around 1:57, as he’s yelling, “I wanna bring in these shorts! Bring in the zooks, the outbacks — the impossible stuff to buy!”
Also fun: here’s how he describes the hedge fund industry: “It’s the most objective industry in the world. If your numbers stink, you’re out, if they’re good, you get more money. It’s Darwinian.”
And here’s why he was good at bringing in investors when he was a hedge fund manager. “If you had bought Merck in the 1950s, just 10,000 shares, instead of buying US Savings Bonds, you would not ever have to work again!”