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You Got Screwed! Why Wall Street Tanked and How You Can Prosper

You Got Screwed! Why Wall Street Tanked and How You Can Prosper

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Author: James J. Cramer
Publisher: Simon & Schuster
Category: Book

List Price: $20.00
Buy New: $4.00
You Save: $16.00 (80%)



New (18) Used (20) Collectible (1) from $2.98

Avg. Customer Rating: 3.0 out of 5 stars 37 reviews
Sales Rank: 29670

Media: Hardcover
Number Of Items: 1
Pages: 128
Shipping Weight (lbs): 0.6
Dimensions (in): 8.6 x 5.5 x 0.6

ISBN: 074324690X
Dewey Decimal Number: 332.6
EAN: 9780743246903
ASIN: 074324690X

Publication Date: November 5, 2002
Availability: Usually ships in 1-2 business days

Also Available In:

  • Kindle Edition - You Got Screwed!
  • Hardcover - You Got Screwed! Why Wall Street Tanked and How You Can Prosper

Similar Items:

  • Jim Cramer's Real Money: Sane Investing in an Insane World
  • Confessions of a Street Addict
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Editorial Reviews:

Product Description

You've been screwed.

You've been bludgeoned, skewered, crushed, mutilated by the stock market. Every day you read about another corporate scandal: loans to CEOs that didn't have to be repaid, accounting "irregularities," profits that never existed. You think the stock market must have been rigged. And you're right.

You were betrayed by the stock promotion machine -- the mutual fund managers, the brokers, analysts, strategists, and stock gurus who brainwashed you into buying and holding and believing that stocks, like parents, always come through and bail you out in the end.

So now what do you do? Where do you put your money? You can't just leave it in the bank or stuff it under the mattress.

For fourteen years Jim Cramer ran a hedge fund that compounded money at a rate of 24 percent annually after fees, and then he got out at the end of 2000. He knows that there are ways to make money, smart ways that don't require you to own stocks blindly. There are other investments that won't send you to the poorhouse.

This book will tell you what went wrong, who the bad guys were, and what you have to do to restore your financial health. You can't just close your eyes. Ignoring Wall Street isn't the answer. Cash alone isn't the answer. This book has the answers.


Customer Reviews:   Read 32 more reviews...

2 out of 5 stars Lots of history; little how to.   December 10, 2008
If you think you will learn a lot you will be disappointed.

Great insight into how World com and Enron frauds occurred. I got screwed to the tune of $300k by both.

Very little on how to avoid.

Not much substance, easy read...depends on what you are looking for.
Glad I borrowed from library and did not buy.



5 out of 5 stars Very informative, worth every penny   May 9, 2007
This short but very informative book gives you a history lesson on how companies have been screwing over the public for years to make a small group of people a lot of money, It teaches you how to watch for it and avoid becoming a victim of insider trading yourself.

Worth every penny.



1 out of 5 stars The title of this book should be YOU GOT SCREWED! AND HOW JIM CRAMER SCREWED YOU!   February 18, 2007
 4 out of 13 found this review helpful

In late December 1999/early January 2000 at the height of the tech bubble, Jim Cramer appeared on CNBC and screamed this mantra like a maniac at viewers, "If you don't buy ICGE now you are an idiot!! ICGE -- ICGE -- I SEE GE -- I SEE THE NEXT GE -- Get it -- Get it now!" If I remember correctly those were the words he screamed in a fury. The word "idiot" may have been "imbecile" but the point is he wanted to make you feel really stupid if you missed this golden opportunity.

Shortly afterwards the stock started dropping like a rock and Internet Capital Group fell from something like $220 a share to half that in no time flat. Now check out a chart to see where the next General Electric is.

How Jim Cramer got away with this is beyond me. I just found an article in my archives dated 12/20/1999 about "Why Jim Cramer is a Big Fan of Internet Capital Group" but because of copyright laws I don't believe I am allowed to post it here. In the article he stated that his hedge fund owned a large stake in the company and that he was looking to buy more on any pullbacks. What a load of bull. When he says BUY, you should say BYE as you switch to another TV channel.

Good luck if you put your trust in this guy.




3 out of 5 stars Typical Cramer Rant - But What's The Point?   December 31, 2006
 2 out of 5 found this review helpful

Don't get me wrong, I kinda like Cramer. He's entertaining. He's funny. He's run a successful Hedge Fund. He's made a lot of money. He's also often wrong.

Here's my personal experience with Cramer. A few weeks before the collapse of Tyco, Cramer was hyping the stock on his Real Money radio program. If I remember the quote correctly he said, "I would be remiss if I didn't buy Tyco at these levels". So Tyco fell to $32, I bought 1,000 shares. Tyco went to $35 a week later, I sold and made a sweet profit. A week after that Tyco tanked. The rest is history.

I got lucky.

Even though I made money, I suddenly realized how foolish it is to buy stock on the advice of any pundit. I counted my blessings, thanked God I didn't get creamed, and learned a valuable lesson. I wonder how many others weren't so fortunate.

This book fires bazooka rounds at the corporate excesses of the 90's and early years of the millennium. It lobs well deserved grenades into the boardrooms of the brokerage industry. Then it spits a pea shooter's worth of advice at how to avoid getting "screwed" again. Like I said, Cramer is entertaining.

Clearly, Cramer is angry at something or somebody. Maybe he's feeling guilty about his own contributions to the largess of Wall Street and wants to make amends. If that's the case then I understand why he wrote this book. It's a laudable goal. Who knows?

What I do know is there's nothing really new in this book. It provides some very interesting background information about a pivotal point in the country's financial history. It readdresses some of the deck stacking practices of the financial services industry, and it rehashes, in a minimal way, sage self-help advice that can be found in numerous other places for free.

It's not a bad book. And Cramer is not a bad guy. I actually believe the Real Money Cramer is a far different man than the Hedge Fund Cramer. A man for the better in my opinion. So I give him the benefit of the doubt.

If you know nothing about how corporate shenanigans work or how Wall Street works this book is a good primer. You'll just have to go elsewhere for the details.



1 out of 5 stars Unbelievable   May 28, 2005
 21 out of 64 found this review helpful

James J. Cramer is responsible for much of what occurred during the tech bubble. He was a cheerleader for the tech boom and now says that others got screwed? HE WAS DOING THE SCREWING! This is hypocrisy at its best.

From his near firing at Goldman to the collapse of his own company (TheStreet.com is down 90% plus from its IPO price) Cramer is a genius - at cashing in on his own failures.

Do not touch this book with a 50 foot pole.


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