Flamboyance wins 'Mad Money' host fans; professionals pay him no

0 Comments | Oakland Tribune, Oct 1, 2005 | by Francine Brevetti - STAFF WTRITER

For instance, Errold F. Moody, a San Leandro-based financial adviser and author of "No Nonsense Finance," carped that while Cramer is always instructing his viewers to diversify their portfolios, he does not define diversification.

In fact, Cramer has very specific advice for diversification, which he discusses every Wednesday.

Moody doesn't think much of Cramer's audience either.

The San Leandro financial adviser said Cramer appeals to "individuals who don't know what risk is, usually men in the front line of being idiots. He is selling himself. You're getting Joe six- pack heavy hitters."

But, in fact, listening to several call-in viewers gives the impression of reasonable, intelligent individuals, earnestly seeking to help themselves and their families.

When it was brought to his attention that financial advisers and stockbrokers can be negative about him and his show "Mad Money," Cramer said, "Of course they are, and I'm negative about them."

"They would judge without knowing what the show's doing for people," he said. "And their industry has done a pretty awful job helping people. I'm trying to do my best to make money for viewers. And who are they trying to make money for? The firm or themselves?"

Francine Brevetti can be reached at (510) 208-6416 or fbrevetti@angnewspapers.com.