We used to play a game with Harvard alumni. Here's how it worked. Whenever a conversation got awkward, you started timing them on our watch by how much further they could go without dropping the "H-Bomb." As we got older, we noticed that the references got a bit subtler. Cambridge instead of Harvard, Boston instead of Cambridge. But was always there.
Just so you know, it takes Jim Cramer three sentences to hit the Harvard button in his column on theStreet.com explaining his recent remarks regarding hedge fund market manipulation.
You may have seen some articles the past several days attacking me about an interview I gave recently where I discussed the kinds of manipulative trading practices that go on every day in the investing community. Let me say this: No one knows and respects the securities laws more than I do. (I didn't go to Harvard Law School for nothing!)
When I was a hedge fund trader in the 1990s, I played fair, and I did nothing that violated those laws. But others did not play fair, and that's why I started TheStreet.com and have been writing about these abuses for nearly a decade -- to explain to my readers how the markets really work. I wanted to give transparency to the market and tell people the good and the bad.
Some professional traders don't like it when I expose how their game is played, and some of the TheStreet.com's competitors don't like it when people are interested in what I have to say. But I am going to continue to write and talk about how the markets really work -- in my own sometimes hyperbolic and tongue-in-cheek style -- and call them as I see them. That's the least I owe you.
The Least I Owe You [theStreet.com]