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Trading with the Enemy Seduction and Betrayal on Jim Cramers Wall Street
ISBN: 0060086513     Date Published: 2002-03-01     Author(s): Nicholas W. Maier
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Hardcover
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208 Pages
 
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Editorial Review - Book Description:

In January of 1994, Nicholas Maier hopped on a train that took him from Cambridge, Massachusetts, where he lived with his parents, to New York`s Penn Station. With his wallet stuck in his sock, he headed down to the heart of the Wall Street district for a meeting with Jim Cramer that would change his life forever. For the next five years, Maier would work like a slave inside Jim Cramer`s hedge fund, a limited partnership that included only the wealthiest investors, where rules were scarce and where, in his glory days, Jim Cramer managed almost a half a billion dollars, raking in phenomenal returns.

Entranced by the game, Maier quickly rose from the office assistant fetching sandwiches from the deli downstairs to a trader playing with a fifty-million-dollar portfolio. But under the pressure of Jim`s constant war, Maier`s adrenaline rush wore off, and the dark side of Wall Street was revealed: Maier had become exhausted and money driven -- at his worst moments swapping tranquilizers with his coworkers and passing out on a New York subway.

This is a true insider`s story -- an honest, raw, page-turning account that takes us on a journey through the volatile, anything-goes world of hedge funds. From Cramer & Company to the brokerage houses and analysts to the reporters who cover the market action, we are shown a Wall Street where almost everyone is dirty -- a world where even the SEC fails to maintain order.

At the heart of this narrative is an incredible character study of Jim Cramer, one of Wall Street`s brightest stars. Employing any means possible to make money, Cramer engaged in brilliant but questionable strategies that danced on the edge of ethics and legality. A typical day inside the fund would begin with Cramer`s declaration, `I love the smell of money in the morning,` followed by a boom-box serenade of Coolio`s `Gangsta`s Paradise.` At the first sign of trouble, however, Cramer would turn paranoid and vicious, smashing phones and computer monitors and screaming insults that would leave even the toughest employees in tears.

In the tradition of Liar`s Poker, this fascinating account of greed and excess on Wall Street will inevitably force the business world to reassess itself through the story of one young man who walked away from it all.
 
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54 of 58 People found the following review helpful.

"What profit a man...."?, July 12, 2002 ByRobert Morris (Dallas, Texas) - See all my reviews This review is from: Trading With the Enemy: Seduction and Betrayal on Jim Cramer's Wall Street (Hardcover) Each year, thousands of eager and ambitious young women and men arrive on Wall Street. What we have here is Maier's account of what happened to him after he relocated from Cambridge (MA) in 1994 and went to work for Cramer & Company, a hedge fund. He made a total commitment to advancing his career and eventually was entrusted with managing an investment fund of approximately $50-million. His is an insider's unique and compelling interpretation and evaluation, not only of his own experiences but also of Jim Cramer and the firm he founded and headed. As I began to read this book, I realized that its title lends itself to all manner of interpretation. For example, who is the "enemy"? Those with whom one competes for career advancement, obviously, but also those psychological forces which require trade-offs when ethics are in conflict with expediency. (Pogo once suggested that "we have met the enemy and he is us.") Maier and Cramer worked closely together and then, for various reasons...
 
32 of 34 People found the following review helpful.

Congratulations, March 6, 2002 By A Customer This review is from: Trading With the Enemy: Seduction and Betrayal on Jim Cramer's Wall Street (Hardcover) Congratulations to Nicholas Maier for casting as accurate a portrait as possible of everything that was wrong with the high-end of the financial world in the 90's and for having the courage to risk a stadium filled with newfound enemies. If you want a review of the actual content of the book, skip the next paragraph.That many participants were willing to tolerate ridiculous antics and downright degradation for the sake of pure greed shows how little anyone learned in the 80's. The only difference this time around was the 90's players took note of the Achilles heel of their 80's corporate raider counterparts and didn't flaunt it. Most hedge fund managers are nothing like Jim Cramer as described by Maier, and in fact many are nice, honest, hard-working intelligent people; they don't put on hundreds of trades per day or ceaselessly berate their underlings and have chosen to pursue a career where risk-taking and actual skill can translate into deservedly stratospheric rewards. I...
 
72 of 82 People found the following review helpful.

So he's an ego maniac trader. Big deal. There's many., April 28, 2002 ByR. Spell "raspell" (Memphis, TN USA) - See all my reviews Amazon Verified Purchase(What's this?) This review is from: Trading With the Enemy: Seduction and Betrayal on Jim Cramer's Wall Street (Hardcover) I'm a mortgage trader in a regional investment banking firm so I looked forward to this book about the business even though it deals with the stock side. But many things bother me about the book. The story is of an intelligent guy clearly not qualified for a Wall Street job who gets a job at Cramer's hedge fund referred through one of the large investors. Ok, that could happen. The book does a good job of relating the mundane tasks that beginning traders perform and in that respect, I think the book would be very good for beginning I-bankers. The tasks can be very mundane but no matter how smart you are, the only way you learn is through repetition of doing the tasks daily. The author seems to have a knack for the business and eventually develops to recommending his own stocks.But the author just can't put up with the belligerent, tyranical Jim Cramer who runs the firm. Well, welcome to investment banking where egos are dominant. Yes, Cramer is the worst variety. And there...
 
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