It wasn’t always fun and games for CNBC’s Jim Cramer, but along the way, he’s learned some valuable lessons.
“This may come as a surprise, but there was a point in my young life when I was really down and out,” the “Mad Money” host said. “I was working as a reporter in Tallahassee at the Tallahassee Democrat and it was an unfortunate moment. I just wasn’t making enough money.”
Between eating meals of chicken liver and struggling to pay his $200-a-month rent, Cramer had to beg his parents to send him cash.
And oddly enough, Cramer sees a lot of his younger self in this market, where stocks like Verizon, American Electric Power and Clorox lock in gains for no real reason.
“I think this market’s like me, the pathetic me in Tallahassee. ‘Send me more money, mom, or I’m going to have to cut back on something.’ That’s what’s really going on. And the parents just aren’t complying,” Cramer said.
“Sure, I could say that there’s real substantive reasons why so many stocks are rallying while others aren’t, but at the end of the day, the market’s short of money, plain and simple,” he continued. “And until we get some new cash in from the sidelines, there will be limitations on what can rally on any given day.”