Cramer gave the floor over to the crowd of students, letting the brightest minds at USC ask him whatever they wanted.
John, who came with a buddy dressed as a Cramer look-a-like (eve
n donning bald caps), said he wasn’t even an MBA student, but the only business class he needed was ‘Cramer 101.’ John asked Cramer if the “tyrannical practices” he used during his hedge fund days were worth the millions he made, or if he would he go back and do things differently.
When Cramer was a hedge fund manager, he told his employees if they came to work him he would make them rich. They wouldn’t get much time off, and they might have an occasional water bottle or keyboard thrown at them, but he would deliver for them. In retrospect, Cramer told John he didn’t need to be as harsh or mean as he was and the pressure of being a successful manager got to him. “Now I think I’d be better behaved,” he said.
Clark and his friend Larson, an Olympic silver medalist who will be swimming in the 2008 Olympics, had a stock question for Cramer. In looking at Chinese stocks ahead of the Games, they said they were seeing a substantial run-up in almost everything related to China. They ask: Is it worth picking up a Chinese stock or have they all just become too expensive?
Cramer said he would “pounce” on Baidu.com under $200 but warned that the Chinese market is very inflated. Baidu ahead of the Olympics is right, though, and so is Focus Media, which is set to benefit from the Games as well, he said. “But let them come down … let’s watch this market. Those stocks will bounce before American stocks.”
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