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Confessions Of A Street Addict (Book Review)

Confessions of a Street Addict Book Review

Confessions of a Street Addict Book Review

Confessions of a Street Addict by James J Cramer is “The most candid look at Wall Street Since Liar’s Poker.”

With Confessions of a Street Addict you’re in for a fast-paced look at one of Wall Street’s most successful hedge-fund-manager-turned-talking-heads. It’s also the first Wall Street biography I ever read…

And regardless of what you think of Jim Cramer today, his rise to the top (as documented in Confessions of a Street Addict) contains valuable lessons for anyone interested in financial markets.

And since this one of the first investment books I ever read, I think you’ll find my book review honest, accurate and insightful. To disclose my position ahead of time, let me just say: I’ve bought Cramer’s book for a couple of my close friends. And…

I hope this book review will help you determine if “Confessions of a Street Addict” is the right book for you too.

So without further ado…

Here’s Why You Should Read: “Confessions of a Street Addict”

Confessions of a Street Addict details the rise of Jim Cramer, from his Philadelphia upbringing, to his days at Harvard Business School, to interviewing and working at Goldman Sachs, to running an incredibly successful hedge fund and even to taking TheStreet.com public in an IPO.

Yup, Confessions of a Street Addict is a blow-by-blow account of how Cramer got to where he is today. And here’s the real kicker…

Even though Cramer sometimes annoys me on Mad Money, his successive moves up the rungs of the financial industry ladder are incredibly impressive, I don’t care what you say. Plus, the book is action-packed and moves very quickly, so you will definitely have trouble putting it down.

But…

Here’s why I really liked reading “Confessions of a Street Addict”:

Cramer’s “Confessions of a Street Addict” was a really eye opening book for me. I first read it during my undergraduate years, when I was majoring in biochemistry. It wasn’t until a fourth-year elective class that I realized how cool (and profitable) the stock market could be. My sister gave me Confessions of a Street Addict for Christmas… and I was amazed…

That’s because:

Cramer’s book provided a very clear roadmap for how you can succeed in the financial industry. He gives you a lot of insight into each part of his career, including the make or break moments. I really like the chapters where he describes how he made enough money to start his hedge fund. I tell ya…

For someone interested in professional money management, these lessons are incredibly instructive. And since I wasn’t very exposed to trading or investment banking when I read Cramer’s book, I really appreciated how Confessions of a Street Addict spelled out exactly how you could advance your career in the financial industry.

Here are some of the things I liked best about Cramer’s book…

What “Confessions of a Street Addict” Teaches Best

Confessions of a Street Addict does a really good job explaining both the ups and downs of a high-intensity career in the financial industry. Cramer is up-front and honest about the stress that his professional success put on his family and personal life.

I don’t want to ruin it for you. But…

There are some pretty jaw-dropping scenes in Confessions of a Street Addict. If Cramer’s wife (referred to as The Trading Goddess) wasn’t also in the financial industry, I wonder if things wouldn’t have been a little different for Cramer on the personal front.

Another thing Confessions of a Street Addict made clear was the “intangibles” required to make it in the financial industry. Regardless of what you think of Cramer’s eccentric personality today, his biography makes it clear that character, grit and goals are required to succeed in the financial industry. It’s refreshing to understand that even “celebrity” financial news media had to put in their hours to rise to the top.

Here’s What Isn’t Covered By: “Confessions of a Street Addict”

Now as I just mentioned, “Confessions of a Street Addict” does a lot of things well. But sometimes buying a book for the wrong reasons can be disappointing (especially if you figure it out two thirds of the way through!). So…

If you were hoping for an active approach to picking stocks… then, “Confessions of a Street Addict” might not be for you. While Cramer’s book does a great job covering what it takes to be a successful money manager, it’s not focused on how you can pick stocks for yourself.

(Cramer’s other book, Real Money, is much more focused on teaching you how he picks stocks. I’ll do another review on that book soon).

So has this book review helped you get a better picture of Cramer’s book? Should you read “Confessions of a Street Addict” or not?

“Confessions of A Street Addict” – The Final Word…

It’s really up to you! I enjoyed “Confessions of a Street Addict” a lot, for the reasons described above. But don’t let me speak for you! Invest in your knowledge today! Buy Confessions of a Street Addict On Amazon.

“Confessions of a Street Addict” Details and Video Book Review:


Author: James J Cramer
352 Pages
Publisher: Simon & Schuster

Other Books By Jim Cramer: