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To: Big Dog who wrote (32940)	12/16/1998 2:45:00 PM
From: Big Dog	Read Replies (1) \| Respond to of 95453

Looks like Cramer finally got it. Employees of thestreet.com are prohibited from owning stocks -- but not Cramer. Seems he would want to set an example, but I guess not. NEW YORK (AP) _ CNBC suspended one of its guest analysts Wednesday after ethics questions arose about whether he was trading and commenting on a stock at the same time. The cable TV business network said the move involving James Cramer had to do with comments he made two weeks ago about the stock of Internet company WavePhore Inc. He denies any wrongdoing. Cramer, a professional money manager, is expected to return as a biweekly guest commentator after the suspension ends, although no timetable has been set, CNBC spokesman George Jamison said. WavePhore, a developer of online broadcasting technology, complained that Cramer said on the Dec. 2 CNBC program ''Squawk Box'' that he had tried to ''short'' the company's stock _ a legal investment strategy based on the hope that a company's stock price will fall. In short-selling, an investor borrows shares, typically from a broker, and sells them immediately, hoping to buy shares of the company back at a lower price, repay the broker and pocket the difference. On the show, Cramer said a recent rise in WavePhore's stock was based on speculation and might not last. He angrily denied trying to short sell the stock and said he did not mean to give that impression on the program. He explained that he had simply asked the investment firm Goldman Sachs if there was any WavePhore stock available to borrow because he was investigating whether other investors were short-selling the stock. Cramer said he does not own any shares of WavePhore and said he discloses all of his holdings to CNBC and the various publications he writes for. ''I have 100 percent disclosure at all times. I would like to see who else has that,'' he said. Cramer runs the $340 million investment fund Cramer, Berkowitz & Co. and is widely known for his columns in GQ, The New York Observer and TheStreet.Com, the Internet investment news service he co-founded two years ago. WavePhore stock had soared 72 percent to $15.25 the day before Cramer's Dec. 2 appearance. Since the show, WavePhore stock has fallen and was trading at $8.43} Wednesday morning on the Nasdaq Stock Market. WavePhore has asked the Nasdaq and the Securities and Exchange Commission to investigate the trading prior to Cramer's remarks.