James Cramer – Confessions of a Street Addict

James Cramer – Confessions of a Street Addict

Ever since I left teaching in public schools about a year ago I’ve been reading a lot more than I used to. I suppose not having the backstop of safe and secure public schools tenure and pension forces me to stay on my toes and sharpen the saw daily. While I wasn’t much of a reader in high school, college or even while I was a public education teacher… I now find it fascinating how much I was missing out on by not picking up a book of interest.

Instead of just guessing at which books I might like, I generally turn to my friends in this business for their favorite reads. While I didn’t read a lot before, I have always enjoyed reading about things I’m interested in and that happens to be stocks right now… used to be saltwater fishing in Florida ha. The books I’ve read lately include Michael Lewis’s The Big Short and Liar’s Poker as well as SUN TZU’s ART of WAR. I read a lot of blogs too, I’m addicted to The Alutcher Confidential, by far the best Wall Street / life blog you can get, this guy is brilliant!

Anyway… I’ve been reading some of Jim Cramer’s books too and whenever I bring this up in chat my subscribers laugh and shout things like, “Hack” or, “His wife bailed him out” haha. Now maybe he is a hack, but who isn’t? Maybe his wife did bail him out… but lord knows my wife has bailed me out a number of times and honestly, good for Jim admitting it. I guess nobody on Wall Street is dissected more than Jim because he makes himself a target through his success and stories he’s shared. Now you can say what you want about TheStreet.com, Mad Money or even Jim as a person but nobody can argue this mans success on Wall Street. Yes, he was successful not only as a fund manager handling cash for some of the richest people in the world but how about his success running an publicly traded Internet company not to mention a fantastic family man and media star?

If you take the time to read Confessions Of A Street Addict you’ll be amazed at what he shares, this a great ready, possibly one of the best so far in the 21st century. Honestly, what Jim reveals about Goldman Sachs and TheStreet.com’s IPO, smashing computers, firing employees, the ups and downs of his business relationships and friendships and how he almost went under is some of the best material you’re going to read about the nasty game that is Wall Street. If nothing else, you’ll realize that Wall Street is not designed to benefit the retail trader like you and I. So while I have not read a ton of books lately, I have read quite a few and I’m telling you, Confessions Of A Street Addict is by far one of the most insightful reads you’re going to find about Wall Street.