from Toronto Globe and Mail
Happy to be touted by guy on Mad Money
PATRICIA BEST
00:00 EST Thursday, Jan 19, 2006
He's the wild man on business television -- Jim Cramer, the former hedge fund manager who says he lost his soul making money for rich people for 20 years and now wants to make it right. Mr. Cramer's early evening spot on CNBC is aptly called Mad Money and, indeed, he does come across as slightly mad with his bug-eyed face looming into the camera, his shouting and exhorting, and pounding his hand. But Mr. Cramer's stock picks and pans can also move markets -- so devoted is his following among the rich and, now, the not so rich.
Canadian investors, however, have taken note of a recent fascination Mr. Cramer seems to have with Canadian small-capitalization stocks. "He is increasingly touting individual Canadian stocks," one investment type says, "and the initial reaction is wild." Two such names last week were chip maker Zarlink and gold mine developer Crystallex. The first moved from $2.02 (U.S.) on the day Mr. Cramer mentioned it to $2.94 in after-hours trading that night. The latter was the top TSX gainer for the week. Recently, another small stock, ATS Automation, a solar energy play, jumped a dollar after a shout-out on Mad Money. Savvy Canadian investors are wondering: Who is Mr. Cramer's Canadian source?
nobodys-business@sympatico.ca
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