To: Zeeko who wrote (104837 ) 2/25/1999 1:09:00 PM From: Mohan Marette Respond to of 176387
<--OT-->Cramer in a slump??? Made a whole 2% for the fund last year. I told you this guy is not worth listening to like the rest of them schmucks.This dude is a hyper 'flip-flop' trader,any serious investor should think twice or thrice before taking advice from him. ===============================Cramer fund trailed broader market -NY Times says TheStreet.com founder is in a slump By Steve Gelsi, CBS MarketWatch Last Update: 8:06 AM ET Feb 25, 1999 NewsWatch NEW YORK (CBS.MW) -- James J. Cramer may be one of Wall Street's most ubiquitous figures, but his hedge fund is in a slump. Last year was the worst in a decade for Cramer-Berkowitz Co., and the fund has trailed the S&P 500 Index for the past five years, The New York Times reported. The paper said the fund beat the index over the past decade. The story praises Cramer as scoring a "hat trick" by earning renown as the Wall Street equivalent of player, coach and owner. In addition to managing the fund, Cramer regularly appears as a commentator on CNBC and he started TheStreet.com, a financial Web site that has filed plans to raise $75 million in an IPO. The New York Times Co. (NYT) is the third-largest shareholder in TheStreet.com, with 1.3 million shares it purchased for $15 million"For Cramer-Berkowitz & Co., Cramer's high-flying, fast-trading hedge fund, 1998 was the worst year in a decade," the story said. "Though the fund produced a positive return of 2 percent after fees for investors, it fell short of the total return on the Standard & Poor's 500-stock index by about 27 percentage points." In a commentary on his Web site, Cramer said he was "embarrassed" by the Times story. "I have been embarrassed before, and I will be embarrassed again," he said. "That comes with the territory I have carved out." Cramer said he already admitted his slump in a four-part series on, "how I blew the bottom in October as well as in several abject appearances on CNBC's 'Squawk Box.' " He revealed on CNBC that 1998 was one of his tougher years in his 20 years as an investor and trader. The New York Times used private correspondence between Cramer and his partners, "something I wish they had not done," Cramer said. "Pretty much every aspect of my financial life is now public, so if I can't stand the Jenn-Air, I better sell the Maytag." (MarketWatch.com, the owner of this Web site, competes with TheStreet.com.)