The most exciting time in the money markets is now. Momentum stocks have cratered, global positioning is done as a thesis and it's all a zero-sum. So says Jim Cramer, co-founder of TheStreet.com and CNBC markets commentator, in this free ranging discussion from the O'Reilly Money:Tech 2008 conference.
Cramer discusses the evolution of access to financial data for the masses. why this has led to a quant-dominant outlook by investors and the consequences of this. He recounts the arc of these changes from a Goldman Sachs library in the 1980's to the ready availability of data today and his use of instant conference call transcripts.
He populates his talk with first-hand accounts of how an unsent fax lost a company 100 million dollars, how Dow Jones laughed at the idea of irrelevance and why when digging for gold it is important to have both a good vein and the right tools.
The talk concludes with Jim's thoughts about real estate on the web, Google and questions from the audience.
Jim Cramer graduated from Harvard College, where he was President of The Harvard Crimson to work as a journalist before moving to New York to help start American Lawyer magazine. He received his J.D. from Harvard Law School in 1984 and went on to join Goldman Sachs, where he worked in sales and trading. In 1987 he left Goldman to start his own hedge fund. While he worked at his fund, he helped start Smart Money for Dow Jones and then in 1996, he co-founded TheStreet.com, where he has served as a columnist and contributor ever since. In 2000, he retired from active money management to embrace media full-time, including radio and television. Currently, Jim Cramer is a markets commentator for CNBC and TheStreet.com. In addition to his daily writing for TheStreet.com’s RealMoney and Action Alerts PLUS, as well as his participation in various video segments on TheStreet.com TV, Mr. Cramer serves as host of CNBC’s Mad Money television program.
This free podcast is from our Money:Tech series.