"The Winners Of The New World", Circa February 2000

Tyler Durden's picture

Because humor is always the best and only cure to pervasive central planning that has made a mockery of traditional investing and capital allocation, and because nobody delivers unlimited sheer, unadulterated humor quite as well as one James J. Cramer when he is "recommending" stocks, here is the full text of Jim Cramer's "The Winners of the New World" speech delivered in February 2000. Because it really never is different this time.

James J. Cramer is the keynote speaker at the 6th Annual Internet and Electronic Commerce Conference and Exposition, held at the Jacob Javits Center in New York City. From TheStreet.com

February 29, 2000

The Winners of the New World

You want winners? You want me to put my Cramer Berkowitz hedge fund hat on and just discuss what my fund is buying today to try to make money tomorrow and the next day and the next? You want my top 10 stocks for who is going to make it in the New World? You know what? I am going to give them to you. Right here. Right now.

OK. Here goes. Write them down -- no handouts here!: 724 Solutions, Ariba, Digital Island, Exodus, InfoSpace.com, Inktomi, Mercury Interactive, Sonera, VeriSign and Veritas Software.

 We are buying some of every one of these this morning as I give this speech. We buy them every day, particularly if they are down, which, no surprise given what they do, is very rare. And we will keep doing so until this period is over -- and it is very far from ending. Heck, people are just learning these stories on Wall Street, and the more they come to learn, the more they love and own! Most of these companies don't even have earnings per share, so we won't have to be constrained by that methodology for quarters to come.

There, now that that's done with, can we talk about the methodology that produced those top 10 so that you can understand how, in a universe of a gazillion stocks, we arrived at those, so you too can figure it out? I hope we can because I have another 10 and still another 10 and another. They all do the same thing: They make the Web faster, cheaper, better and easier to access anywhere, anytime. They allow you to get on the Web securely anywhere in the world. They make the Web economy the only economy that matters. That's all they do.

We try to own every one of them. Every single one. And if I had my druthers, I wouldn't own any other stocks in the year 2000. Because these are the only ones worth owning right now in this extremely difficult, extremely narrow stock market. They are the only ones that are going higher consistently in good days and bad. I love every one of them, just as I loathe the rest of the stock universe.

How did this stock market get like this, to where the only people who can make a dime in it are the people who are interested in the most arcane subject, the moving of data from one space to another, via strange new machines and software? How did it get to the point where nothing else matters, most particularly the 90% of the stock market I have studied for the last 20 years? How did all of that knowledge become totally irrelevant and the only stocks that work are the stocks of companies that didn't exist five years ago and came public in the last two or three years?

Let's start with the world in the early 21st century, a world where capital is abundant for a chosen few and nonexistent for just about everybody else. It is a world where the whole of Wall Street and Silicon Valley is at your fingertips if you are creating the infrastructure for the New Economy, and a world where neither Wall Street nor Silicon Valley could give a darn about you if you are using that infrastructure.

Or in other words, we don't care if General Motors (GM_) and Ford (F_) are going with Oracle (ORCL_) or with i2 (ITWO_) for their new parts procurement process. We don't want to own GM or Ford on any occasion. In fact, we would rather own the loser in that tech bake-off than the winner in nontech, because in this new world, there is so much business to be done for the i2s and the Oracles that the capital will remain plentiful for them, win or lose a particular piece of business.

Just yesterday I found myself wishing I had bought i2 when it lost out to Oracle for the giant business-to-business contract for the Big Three automakers. Others had the same idea because i2, the loser Friday, was up much more Monday than GM and Ford could be this year. i2 can own the world because the company with the access to cheap capital always wins. And the companies with no access have to lose.

Or, closer to home. We in the stock market don't care that The Street.com Inc., a company I helped create, has built a compelling new brand, has more than 100,000 paid subscribers and has $100 million in the bank. We just want to know which companies TheStreet.com employs to publish each day. We want to know who the host is, which publishing tool works best, which wireless strategy TheStreet.com is adopting and how does it automate its email? (By the way, the answers are Exodus, Vignette, Motorola and Kana  -- all at or near their 52-week highs as TheStreet.com languishes at its 52-week low, a triumph of the arms merchants over the combatants if there ever were one.)

How did this bizarro world where nine-tenths of the companies I have followed as a stock picker for the last 20 years are losers and one-tenth are winners? To answer that question, you have to throw out all of the matrices and formulas and texts that existed before the Web. You have to throw them away because they can't make money for you anymore, and that is all that matters. We don't use price-to-earnings multiples anymore at Cramer Berkowitz. If we talk about price-to-book, we have already gone astray. If we use any of what Graham and Dodd teach us, we wouldn't have a dime under management.

So how do we sort through which stocks get bought and which stocks get assigned to the waste bin?

We have a phrase on Wall Street. It's called raising the bar. If you can raise the bar, or brighten the outlook for your company, if you can see your growth accelerating, your stock will go higher and you will be given the currency to expand, acquire and do whatever you want. That's the secret of the quintessential New Economy stock: Cisco (CSCO_). This giant networker has the ability to control its own destiny. It can, as my colleague Adam Lashinsky says at TSC, buy any company it wants to. It can pay any price. Because it has a currency that it better than U.S. dollars: It has Cisco stock. It can do that because it raises the bar every quarter!

But what about the Old Economy stocks? Can Merck raise the bar? Can Pfizer? Can U.S. Steel? Or Phelps Dodge? Union Pacific? No, no, no, no, no and no. So what happens to them? Despite the billions in buybacks and the plethora of strong buys that the Street has put out about these companies, their stocks have no traction. They just stumble along, rising and falling haphazardly with every whim and quizzical speech of the Federal Reserve chairman that still controls their destiny. If Greenspan indicates that there is more tightening ahead, these traditional companies, the ones that you measure with traditional matrices, get pole-axed as we worry about where the capital will ultimately come from if credit gets choked off, while the arms merchants in the Web war, with capital to burn, just go higher.

It is no secret that the Dow, made up principally of companies that can't raise the bar, is down 12% while the Nasdaq, which is made up of companies that can raise the bar, is up 12%. And in the self-fulfilling jungle that is Wall Street, only growth can maintain growth!

So how do we find what are the great growth companies, knowing that growth and not cheapness of stock to company is what matters? We have to look for the fastest-growing industries and then select the companies that can make the infrastructure happen the fastest and the cheapest in those industries. The growth must be positively organic, if not viral. There must be heavy technological barriers to entry. And there must be an ability to scale without any thought to human cost. These companies must be able to dominate their businesses or be willing to become part of a larger institution that dominates.

So, whom does that eliminate? First, any company that is a commodity producer simply can't be owned, no matter what. The New Economy makes those be simply a function of low-cost producer with no ability ever to raise price. This, of course, is the crying shame of the way the Fed is trying to break the economy because the only place that could stand for a little inflation is in the deflationary commodity industries. But their inflation revolves around the ability to build inventory to anticipate future price hikes and the Fed is taking short rates to a height that makes it uneconomic to stockpile.

Second, it eliminates any bricks-and-mortar company that doesn't embrace the Net. To not embrace the Net is to give a cost edge to a competitor who does. It does so because the Net removes the middleman that was a product of the regional economy. There is $4 trillion worth of wholesaling that gets instantly eliminated by the Net. Before only the largest orders could be processed by the biggest companies because it was too expensive otherwise. Now all orders can be processed by the biggest companies through the Web. There is no need for the jobber or the wholesaler. Obviously, if you are still using that old distribution network, you can't compete against those who do.

Third, it eliminates any industry that does not have a proprietary brand. This is one of those weird features of the Web that people haven't woken up to yet, but it will seem obvious a few months from now. In the New World's economy, the desire to "name your own price" is too great to squelch. An outfit like priceline will change the very nature of brands in this country. It won't destroy the premium brand, but it will force everyone else out of the market. Why? Because the way priceline works is that we are trying to buy the premium brand for the price of the off-price brand. That means the off-price brands, whether they be Colgate or Dial or Hunt's or Ralston, are simply doomed by the Web. Why would you ever buy the second- or third-best when you can get the best via priceline for the same price as the lower tier? Ahh, that's a real killer. It leaves only the top brands to vie for supermarket space. The others won't be worth carrying. They won't move! Oh yeah, same goes for the airlines and the hotels and just about everybody else.

Fourth, it just destroys retail as we know it. Why? Because the companies that embrace the Web more vigorously will eventually be pitted against other companies that embrace the Web more vigorously, creating a virtual constant price war, the kind of war that Marx, of all, actually predicted would happen to capitalism. It will happen to retail once everyone realizes that Amazon recreated Wal-Mart online because it will forever have access to cheap capital. Why do I say forever? Because at a certain point, it will be done with its buildout and will effectively be able to cherry-pick whomever it wants to destroy while having it be subsidized by other areas. It will be Home Depot vs. Wal-Mart vs. Amazon in the end. Nobody else. And that's only if Home Depot figures out it better get on the Web and fast.

Fifth, it wipes out everybody who straddles the Old and New Worlds. Let's take the brokerage industry. If you are trying to preserve a price point, because you need those margins, you can't and you become roadkill. Same with journalism. If you are free online and cost offline, you will eventually not be able to charge offline. Why not? Because the Hewlett-Packards and Intels and Ciscos are bent on making the online version far superior to the offline version. And they will do it. They, too, have the access to capital to make it happen.

I can tell you from TheStreet.com that we have substantial cost advantages over our printed cousins. We can come out around the clock. We don't require paper, ink, delivery people or trucks. In that sense, we are much more like television, personal television, which is why we were wrong initially to think we could charge for basic news, and right to think we can charge a huge amount for proprietary analysis that can make you money.

The struggle between the offliners and the onliners in banking will also pan out just like these other industries, with huge wins for those with a fresh online culture and hideous losses for those who don't see it coming or are slow to adjust. If you have to preserve your giant branch network and the costs that come with it while someone else perfects secure wireless Internet transactions, you can forget about it. You can't afford to compete. How can Bank of America compete with Nokia as a way to bank? How can Goldman Sachs compete with Yahoo! as a way to invest? Isn't Nokia, with its wireless machine that goes everywhere a better bank than one that needs branches? Isn't Yahoo!, with its access to all of the information and quotes in the financial world a better place to buy stocks than Goldman?

Of course they are.

So, if you can't own the retailers, and you can't own transports, and you can't own banks and brokers and financials and you can't own commodity makers and you can't own the newspapers, and you can't own the machinery stocks, what can you own?

A-ha, that just leaves us with tech. That's why we keep coming back to it. That's why, despite the 80% increase in the Nasdaq last year, we are looking at another record year now. It is by that process of elimination that I have picked my top 10. And my next 10 and my next 10 after. Only those companies are worth owning. The rest?

You can have them.

Thank you.

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francis_sawyer's picture

Cramer proudly displaying the horns of 'Moloch'...

NemoDeNovo's picture

I hope JC gets Gaddafi[ed] right along side Jamie, Llyod, and the rest of the GS/Wall Street fuckerz...just sayin.

mightycluck's picture

Speaking of humor, I found this picture of Obama shooting Grumpy Cat. Obama can't really make Republicans in the House agree to his massive spending pleas, so it is easier to deal with grumpy cat!


francis_sawyer's picture

@mightycluck ~ He can take away everyones guns... But he likes SHOOTING cats with his rifle in his spare tie... [MSM must have missed that irony]...


Someone needs to photoshop a pic of Feinstein instead of grumpy cat [& make it go viral]... WB7?

Harlequin001's picture

well he kind of nailed it...

apart from the words...

cifo's picture

I get shivers in my spine from reading it.

Harlequin001's picture

but hopefully not in your wallet.

How does this bloke still get on TV?

King_of_simpletons's picture

Wall Street keeps drinking its own bathwater, until it implodes under its own weight. Happens everytime.

Jay Gould Esq.'s picture

From the Wall Street Crony Portrait Gallery,

"Still Life With Subpoena." Securities and Exchange Commission, 2006. Private Collection.


FEDbuster's picture

"OK. Here goes. Write them down -- no handouts here!: 724 Solutions, Ariba, Digital Island, Exodus, InfoSpace.com, Inktomi, Mercury Interactive, Sonera, VeriSign and Veritas Software."

So what's the update 13 years later?

Cdad's picture

Jim Cramer is the Great Defender of the Little People!

Gold Dog's picture

My three biggest buys in early 2000 were;

Exxon- Up 250%

Kinder Morgan Partners- Up 400%

Philip Morris, now Altria- Up 560%

That is not including dividends.

Conclusion, Cramer is a fucking idiot!

StandardDeviant's picture

I know that was probably a rhetorical question, but I'm bored, so LMGTFY:

724 Solutions (NASDAQ:SVNX)

Feb 2000: IPO opened at $108, shot up to $345
Feb 2002: stock trading at $2.45
Sep 2002: moved to NASDAQ SmallCap market, as it no longer met minimum bid of $1 per share
Apr 2004: EDGAR filing shows that a $100 investment in 2000-01 worth $0.42 in 2003-12
Jan 2010: bought by Mobixell Networks for undisclosed amount


Dec 1999: share price at $57; announced acquisition of TRADEX Tech
Mar 2000: shares at $173
Oct 2012: acquired by SAP for about $45/share

Digital Island (NASDAQ:ISLD)

Oct 1999: share price at $23
Mar 2000: secondary offering at $107, later hits high of $122
May 2001: acquired by Cable & Wireless at $3.40/share


Mar 2000: share price at $173
Sep 2001: less than $1/share
Sep 2001: filed for Chapter 11
Nov 2001: acquired by Cable & Wireless

InfoSpac --  Oh, screw it.  You get the idea...

Disenchanted's picture









Also, in 2000, InfoSpace used a controversial accounting method to report $46 million in profits when in fact it had lost $282 million. Company executives skirted SEC trading restrictions to sell large blocks of their personal stock.[7]

Jain resumed the role of CEO in 2001,[8] but was forced out by InfoSpace's board as chairman and CEO in December 2002.[9]

By June 2002, the company's stock price, which reached $1,305 in March 2000,[10] had dropped to $2.67.[11]

hawks5999's picture

724 Solutions appears to have been delisted and sold off for about 10% of its IPO prices

Ariba's cap is about 3% of its 2000 pre-crash valuation

Digital Island was sold at 4% of its pre-crash valuation

Exodus - Bankrupt

Infospace fell to .2% of its pre-cash valuation

Inktomi was sold for .6% of its pre-cash valuation

Mercury sold for about 33% of it's pre-crash valuation in 2005

Sonera merged in 2002 - not sure on value

Verisign closed Friday at 17% of its 2/29/00 close

Veritas purchased for some % I can't find.

adr's picture

It isn't about where they closed or which went bankrupt. Cramer did his job, just think how much money insiders and corporate directors made when they granted themselves stock options in the three digit valuations.

CEOs running corporations without profit or earnings granting themselves millions upon millions overnight. That was and is Cramer's job. Pump the stocks for the guys at the top. That is why the clown has his job, he made trillions for the .05%.

The stock market exists as a wealth transfer mechanism, always has. There is no such thing as a productive public corporation.

FEDbuster's picture

Seems like management at CNBS has stopped running the disclaimer everytime this asshat opens his pie hole.  They used to run it everytime he came on. 

Thanks for the updates on those Cramer picks, seems like Jim is still "WINNING!"

JR's picture

Cramer is funny; he’s a showman; he’s an entertainer; but beyond that, the network bears a huge responsibility for classifying him as a knowledgeable stock market observer. If Cramer were a package to be shipped on the airlines he would need a hazardous warning label.

With losses like that that, he should not be allowed to be on television: the network is responsible for this. He should be labeled as entertainment or comedy show. And to make it worse, he knows what he’s doing.

Thanks! a million, hawks.

CPL's picture

724 Solutions, 

Partnered with Nortel...they've been passed around like a joint at a party for pennies on pennies, on pennies over a decade.  Only their IP remains.



Weakened by poor support and large price tag.  SAP consumed them for the IP and existing contracts for bodies.


Digital Island, 

SAVVIS Owns the IP now and a group of POed customers without support.  Get a lawyer, they owe you money on contract terms of service if you purchased during dot.com bullshit and the subsequent flips through OTC and Pink sheets.



They sold a lot of third tier support services, aka whatever they could lie about then mark up.  You think the gangsters of the universe are extorsionists, these guys were masters.  Since they were pricks.  They ran out of customers fast.  They were the original bastard operators from hell.  



It's a sorry assed search engine that couldn't find Google with it's algo search.  It is A SCAM.  Stay the fuck away from it.  Sold as a bottom level investment, padded to death and it's as clean as a two dollar hooker on payday.  It's so sad incidentally that it has to list itself on tier 7 sites to get placement anywhere.  There are guys that collect thimbles on the few personal remaining geocities pages that have had more unique visitors.  Mainly because people are curious as to the reason people collect thimbles is.  Infospace.com, there is nothing interesting there.  Just ads...from google.



Inktomi backed AOL in "the web wars" as if AOL was even a nomination for 'web services' other than shitty BBS full of parental controls, no porn and games that you could wait 30 minutes to load.  OR go buy the 16 in 1 game pack from a dollar store and sit in a coffee shop waiting for a random challenger.  The outcome is about the same.


Mercury Interactive, 

World class producers of tactile, functional, progressive, industry key white papers and power point presentations.  Their product was this.  For about a million dollars a customer can buy a pad of paper with a pencil.  With another 4 million they'll send you four or five guys, none of whom english is the first language and none of them speak each others language.  Then write another check for a million to hire a project manager to write emails to these guys to 'confer, develop and assign' the various tasks of writing on bits of paper what the product is supposed to do on your site.  After two months your Project Manager will be replaced with Jed.  Jed likes muddin and taters, doesn't understand technology, but he's some idiot stick that hired cheap on the locked in contract for ten year just for purchasing a pad of paper.


It's at this point clients understand that they haven't even bought a software license.  Just the idea of one.  HP sells this shit now.  Fucking criminal.  Like SAP in every way shape and form.



Is now TelliusSonara (actually had to look this one up...fuck there were a lot of shitty companies then just as now.)...Two crappy broke companies seen each other and thought by merging debt loads, no customers, vapourware that it could complete the circle of craptacular stock.  I hope to TelliusSonara enjoy ...oh wait.  CEO is running for the hills because he's still a douche.  More things change...





If you have an infinite amount of monkey's and an infinite amount of typewriters you to can find the holy grail or shitty security implimentation and planning and those fucking online shipping carts that loops into infinity and take forever to deal with.  Try troubleshooting that shit.  I know guys that won't EVER walk into a company using it.  Garbage tech.  Paypal should have raped it mercilessly.  Oh it was built as a loss leader.  BIG one.  It's designed as a company to lose money and US Government pension funds have held it for years for some demented reason.


Veritas Software

Netbackup.    It is still alive...but barely.  Open Source universe has destroyed the backup market place with faster, reliable backup solutions build BY system administrators that were sick to death of getting in shit to retrieve a single email about some joke sent by a director to himself and he lost it.  Because that's what million dollar storage systems are for.  Cat pictures and jokes.  Offsite, until the end of time, or 4 years when the corn/ethanol based tape media starts to rot.  


True story, it's veggie oil, not real oil stamped as the "film" on CD/DVD/Tape media.  Why does anyone think the prices dropped so fast so quickly.  They certainly weren't going to use real oil.  Because that might have been sensible and last forever.  I have too many friends learning this the hard way all those carefully archived photos of their kids from ten years ago are now worthless and gone.  Explain that to the wife.

schatzi's picture

Wow, I'm shocked.Tthanks for that. Scary to see so much criminal energy and idiocy being rewarded and also supported by main stream media. This is the one post most new and aspiring investors should read. Great wake-up call.

Tekrunner's picture

Don't take that post too litterally, it's a fun read but it's exaggerated on some companies. Veritas and Verisign especially : Netbackup is, in fact, used fairly widely (but certainly not to backup emails), and Verisign is still in charge of some critical infrastructure for the Internet.

CPL's picture

lol...not for long.

CPL's picture

These companies are all in sceptic tank of the business slag heap...or about to be flushed.  Bad ideas in STEM can stick around for a little while, but eventually the proof has to be shown or everyone disconnects from them because they are useless.

This isn't fine arts, opinions and money hold zero sway after that point.  Function in a model does.  It must function in a process or it is disposed of.  

Only reason Verisign is still hobbling around on a stump is because there are stock holders that bough at it's 100 dollar highs and are waiting for people to want confusing, poorly implimented, sloppy, half working software.  Oh wait they aren't, but the pension fund investors still keep giving them civil servant money and occassionally some hedge fund manager gets suckered in.

TimmyM's picture

So CPL, if you had to buy a tech stock, what would it be?

CPL's picture

None of them.  Build a company.  Sell good services.  Build a good tool.  Don't go into debt.  Invest that way.  Stocks are garbage.

My favorite model is find a good sales person and build service products that people actually want around my resume and if the project is larger, sniff out people with bench time to help out.  Everyone gets money in their pocket to the level of work responsiblity they want to assume.  License to print money and enjoy a career.  Variety.  Money is good.  Always an excuse to try something interesting in a different business context.

and STEM isn't hard to sell from.  

If it's useful, it goes viral ala the KISS rule.  It's the only free capital market.  Do you own a USB stick of ram?  Can you recall when you obtained your first one and how you learned about it?  I don't recall large advertising campaigns about the san disk cruizer in Time magazine or a 30 second spot.  Yet you still own one as do I.  There is no brand that sticks out.  Just the function.  Datakey.

It is the single piece of technology that everyone seems to understand, absorbed knowledge of by osmosis, yet never get the data key in the usb slot on a first time try.

Want warranted success in software development as a Model?  

Mojang... or the makers of Minecraft.  Best.  Toy.  Ever.  Since.  Lego.  Because it is lego, with working parts.  Everything a kid wanted out of a box of Legos.  Models are fun.  But working models are way better.  It's a company that deserves every nickle of the license they sell.

LarryDavis's picture

Great fucking post you knew your shit.

fonestar's picture

I've argued with enough idiots on CNBC blog to somewhat understand the mindset.  The markets are like vegas, CNBC is another casino and Federal Reserve Notes are their casino chips.  Maria serves the drinks while Jim, Liesman and the others provide infotainment on stage.  If  little old ladies and college students (who actually try and use their clownbux to exchange for goods and services) get mowed down in the process of their recklessness, the attitude is "fuck 'em".

This is a game for them plain and simple.  ZH'ers are in it to win it.

FMR Bankster's picture

It is some funny sh*t to watch though. Now that their ratings are falling they become increasingly desperate. I'd stop watching but I'm waiting until they have Kernan shoot the pasties off of Becky Quick's breasts.

Freddie's picture

LOL!  That might save their ratings. 

Cramer is a total douche and I have always said CNBC is like a casino on TV.  I dumped TV and Hollywood pre it becoming Obam-TV and Obam-Hollywood.

TV and Hollywood is for brainwashing idiots.  By watching it - people empower the elites.

Seer's picture

What value is it to anyone for you to keep plugging your anti-Obama shtick?  It gets fucking old.  Insecurity on your part I suppose (that our you get paid to post this- propaganda peddler).  Anyone who doesn't get that Obama is a puppet, doesn't get that you dislike the fucker, well... did I say it gets old?

NOTE: While I'll admit that I repeat the "growth is dead" mantra, it is and will continue to valid and of importance for people to understand. (and, it doesn't look to use name-calling, or toss around racist, stereotyping drivel).

LongSoupLine's picture

It would be real humorous if not for that screaming shit eating fucking piece of fucking sewer trash not losing a ton of innocent people's money with his fucking criminal fucking shill theater.

Fuck you Cramer. Take a fucking bullet like a fucking rabid fucking feral dog you fucking cocksucker.

newdoobie's picture

Don't hold back, tell us how you really fucking feel!

taniquetil's picture

"Isn't Yahoo!, with its access to all of the information and quotes in the financial world a better place to buy stocks than Goldman?"


Well, I can concede that he was probably right on that one.

LetThemEatRand's picture

"isn't a yahoo, with no access to any information or quotes in the financial world a better place to buy stocks than Goldman?"

Even with those changes, he would still be right on the Goldman call.

Cdad's picture

The dip in TST represents a fantastic buying opportunity.  

buzzsaw99's picture

Circa July 2008 also.

Brokenarrow's picture

What amazes me? No one has shot him. I would have a martini, and I don't drink. The man has no conscience, morlas, and is so fucking ugly. I'm sure his wife has a relationship with the garbage man. And, I'm being kind.................

francis_sawyer's picture

Somebody upstairs decided to make him the 'POSTER BOY' because he has an uncanny resemblance to Vladimir Illych Ulyanov [Lenin]... It's a subtle hint of which direction we're being led 'by the nose' into...

FEDbuster's picture

Cramer is a clown, clowns are just creepy.  Corzine is a crook, crooks should be (will be?) shot.

Lets_Eat_Ben's picture

"...And there must be an ability to scale without any thought to human cost. These companies must be able to dominate their businesses or be willing to become part of a larger institution that dominates."

I'll take Business Ethics for a thousand please Alex.


h/t m33t3r

Video: Cramer exposes himself in an interview with TheStreet.com. If you want to download you can by clicking on the file tab and choosing "download". Google will then give it's ass-covering warning that the file might contain a virus, but there's not.

Transcript, self-proclaimed source of the leak:


Seer's picture

"What amazes me? No one has shot him."

Only if it cripples him... Better would be that he had to rummage through garbage dumps for the rest of his life in order to live: and, his only source of entertainment would be having to watch nothing but reruns of him spewing his B.S..

Ralph Spoilsport's picture

Fuck You Jim Cramer!

monopoly's picture

And he is not in prison for fraud, lying, deceit, idiocy and corruption. THAT is Amerika.

Bunga Bunga's picture

Yea, he is just a reflection of the average American. In other cultures they would have been ignoring such a guy quickly, but in America you can tell 20 years bullshit and get loved and admired. 

Freddie's picture

He engaged in endless front running at his hedge fund but was buddies with Elliott Spitzer so Cramer the shit was untouchable.  CNBC enabled his front running whisper in Maria's ear BS.  Criminals.