An overlooked and extremely important fact about Jim Cramer is this: He’s not an investor, he’s a trader, and there’s a huge difference between the two.
He got his start with Goldman Sach’s Sales & Trading desk and then went on to run his own hedge fund. He is not in this for value investing, or investing at all, for that matter.
He’s a profit taker and his experience and background bear this out. The idea that Cramer was somehow hornswoggled with the rest of us is laughable. Read some of his comments about creating market momentum and some of the ploys he used to use from his hedge fund days and then tell me how, exactly, he was duped with the rest of us. He was one of those doing the duping.
