I just finished reading Jim Cramer’s book: Confessions of a Street Addict. I must start by stating this book if one of the best I have recently read both from a content perspective and the way its written. In a nutshell, this book is an autobiography of Jim Cramer during the years he ran his hedge fund and co-founded the financial analysis site The Street.com.
This book offers a lot of insight into the world of hedge fund which is mostly kept hidden. This includes both some of the trading strategies used, methods of analysis (fundamental and technical), and the politics involved. It also details how the Hedge Fund are true market makers that are able to shape the markets based on a number of maneuvers. In addition, this book offers insight into the world of financial analysis and news, as Jim talks about The Street.Com that he co-founded. This part of the book helps understand the .com burst and put it into context. This section also offers tremendous insight into the stock underwriting process and the associated IPOs. All that being said, it shows how trading can become a lethal addiction. An addiction in which any loss can have severe consequences for the underlying financial institution and reminds us that “you are only as good as your last trade”. A thrilling, highly recommended book.