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Saturday, February 11, 2012

'Mad Money' host gives mad advice

Editor’s Note: The following is part two of a two-part series stemming from an interview with CNBC’s “Mad Money” host Jim Cramer before the Friday taping of his show at OU.

CNBC’s “Mad Money” host Jim Cramer shares where his ‘boo-yah’ came from and the future of his show.

THE STORY OF THE ‘BOO-YAH’

When one thinks of Jim Cramer, the first words that come to mind are, “Boo-yah!”

Those words, Cramer said, are tied to Kmart. Cramer first started yelling them four years ago.

“I use to do a radio show, and I was recommending people sell stock in Kmart,” Cramer said. “And a guy who worked for Kmart told me to look at the stock again.”

Cramer spent four hours with representatives from Kmart and talked about the company’s future.

“After talking to them, I said, ‘This isn’t as bad as I thought,’” Cramer said. “So I made it the stock of the week, and then I made it my stock of the year.”

He told his listeners that if they had sold stock in Kmart, then they should buy it back. Within months, he said, the stock had doubled. In another couple of months, the stock tripled and later quadrupled.

“A guy calls me from the New Orleans affiliate and says, ‘Mr. Cramer, I don’t know what they call it up there, but when you make the kind of money that I made off of your Kmart recommendation, ... we say ‘Boo-yah!’’” Cramer said.

After the call from New Orleans, people started calling in and saying they too had made money from the Kmart suggestion. Soon the stock Cramer suggested went from being priced in the low teens to above $100, he said.

“Pretty soon, people called in saying, ‘Boo-yah!’ for other things they have made money on,” Cramer said. “People just began saying it, and it has stuck around ever since.”

FACING FOX

Cramer’s show has been facing increased competition from networks like Bloomberg and the Fox Business Channel, but Cramer said his show will stay on top.

“Bloomberg and Fox are good,” Cramer said. “But I’ve helped bring people from those networks over to CNBC.”

Cramer said his show is like a sports show and draws viewers because it is entertaining and intelligent.

“Those other networks want to play baseball, and I want to play football,” Cramer said. “Until the other networks decide to stop playing baseball and start playing football with me, then my show is in good shape.”

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