Market commentator and CNBC host Jim Cramer made headlines when he warned about a market crash on Monday. The market crash, he said, would be the worst one-day decline since 1987’s “Black Monday.” In 1987, the Dow Jones Industrial Average fell by 22.6 percent in a single day, which, according to Cramer, could be repeated due to the trade tariffs imposed by US President Donald Trump this week.
Speaking on his show Mad Money on CNBC, Cramer also asserted that the situation might get worse if Trump didn’t reach out to the countries that have not imposed retaliatory tariffs.
Who is Jim Cramer?
Cramer, known for his outspoken views, hosts the ‘Mad Money’ show on CNBC. He is also the co-anchor of the 9 am show Squawk on the Street. According to his profile at CNBC, Cramer also runs the CNBC Investing Club, which helps investors build long-term wealth in the stock market. He is also the founder of TheStreet, a financial media website where he writes market commentary and participates in video segments.
In the past, Cramer has worked as a hedge fund manager and also founded the investment firm Cramer Berkowitz, where he served as the senior partner. When he retired from the hedge fund, he had one of the best records in the business.
Also read: Bill Ackman warns of ‘economic nuclear winter’ as markets wobble
Early Life and Academics
Cramer’s academic journey began when he graduated from Harvard College, where he was president and editor-in-chief of the prestigious daily, The Harvard Crimson. After graduating, he became a reporter for the Tallahassee Democrat and later joined the Los Angeles Herald Examiner, where he covered stories ranging from homicides to sporting events.
He then pursued a law degree from Harvard Law School. Upon graduating and passing the New York State Bar Examination, Cramer joined the renowned Goldman Sachs in sales and trading. While at Goldman, Cramer wrote for The New Republic about stock market issues.
Apart from this, Cramer has also written several best-selling books, such as:
- Jim Cramer’s Get Rich Carefully
- Jim Cramer’s Getting Back to Even
- Stay Mad for Life: Get Rich
-Confessions of a Street Addict
As per his LinkedIn profile, his interests lie in investing, finding and following bull markets, and helping people better manage their money.
