Mad Mail: The Jim Cramer Movie?!
Dear Jim: Just wanted to say thanks. I read your biography at the behest of my much smarter wife who read it in Chinese...thanks for waking up the dormant part of me that wanted to take more control of my finances (away from my money manager). My dad hammered on me to get into managing my own money until he passed away a few years ago…but NOOOOOO I had to be a filmmaker. So when I listen to you, watch the ticker and do my daily research I get richer, but most of all I feel him looking over my shoulder with a smile on his face…And hey - your story would make a hell of a funny and inspiring film. If the hacks in Hollywood haven't already approached you, I handled a biopic of Jack Kerouac - he didn't have half your energy, but those days on cigarettes, Benzedrine and coffee...he maybe had his days. Booyah! --Joel
Cramer says: I’m collaborating with someone and “one day you’ll know about it.”
Dear Jim: I’m a 21-year-old Office Depot employee and I get a discount on stock (15% off market price but I can sell for full market price). In the six months I’ve worked there, the stock price has been reduced by more than half. If I were to sell my shares, I’d pretty much break even with what I’ve put into the system. Should I leave ODP behind or should I keep buying while it’s cheap? Do you see the stock rebounding back to the prices of the last year or will the price continue to drop? You are the best, Jim. --Justin
Cramer says: Don’t keep buying. “Diversify from where you work … it is not a mistake!”
Dear Jim: I have owned Citigroup for a long time. A while back, I thought it was going down so I shorted it. I just received a “dividend charge” of $2700 that was taken out of my account. I have never heard of this. Can you explain? I wanted to hear your explanation before I called my broker. Thanks for the show. --Keith
Cramer says: When you short a stock, you must pay the dividend. It’s just the way it is – and it’s why it’s so hard to short high-dividend yielding stocks. “You borrowed the shares from someone else and they have to get the dividend.”
Jim's charitable trust owns Citigroup.
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