5 questions with … ‘Mad Money’s’ Jim Cramer
Via SportingNews
5 questions with … ‘Mad Money’s’ Jim Cramer
By Reid Spencer
Sporting News NASCAR Wire Service
Knowledgeable, opinionated Jim Cramer, host of CNBC’s “Mad Money” and one of the nation’s most influential financial advisers, visited Lowe’s Motor Speedway during Coca-Cola 600 week to see, as he put it, if the American Dream was still alive in the NASCAR infield. Last Friday’s edition of “Mad Money” originated from the speedway.
As an undergraduate, Cramer was editor of the Harvard Crimson. After college, he took a job as a sportswriter for the Tallahassee (Fla.) Democrat, and, to this day, a passion for sports remains with him. Last Thursday, Cramer, 53, got a chance to ride around LMS at 150 mph in one of the pace cars. Sporting News’ Reid Spencer talked with him after the ride.
Q. So how does a Harvard-educated lawyer and former hedge-fund manager become a NASCAR fan?
A. I follow the sport. Frankly, I follow every sport, so I follow this sport, too. I’m just aware of who’s winning and who’s losing. When I was single, I candidly did more than when I got a family.
Q. So what’s more exciting, stocks or stock cars?
A. Having been in one today, the thrill of it — I happen to like the day-to-day of stocks — but the thrill of a ride around the turn is certainly a lot more gratifying than the up and down of what we’ve been delivering to people. The message of hope of NASCAR is completely different from the message of Wall Street. I like the atmosphere.
Q. In talking to race fans in the infield, what have you learned? Is $4 gas a deterrent to people coming to the track?
A. You know what, I talked to a lot of people today, and I think it’s a deterrent for a lot of other things — so they can get to the track. That’s an important distinction. I think brand loyalty has made this sport worth sacrificing for.
Q. What did your ride-around with pace car driver Brett Bodine feel like?
A. I was very glad that I didn’t have a lot for breakfast. It was very clear to me that, had I taken a few more turns — and I was boiling inside, and he continued to get closer and closer to the wall in order to give me more of a thrill — it became close to having the feeling of a roller coaster, but it doesn’t necessarily end where it started. It’s more of a life-passes-before-your-eyes venture than in any other sport. I would say that.
Q: When you look at the cars on pit road, you see a portfolio, don’t you?
A: Yeah, I do! I see DeWalt (Matt Kenseth’s sponsor), Black & Decker, 52-week low, but three-percent yield. That means $4 billion. In euros that’s two billion, so why wouldn’t some big Swedish company come in and buy it, or some German company? Then you go to the next car, and it’s Target (a Ganassi Racing sponsor). OK, I know the consumer’s not spending right now, but Target is a beautiful brand. Why not buy Target when it’s at its 52-week low? Why wait for Target to go up to a 52-week high? You shop there, you trust the driver. The financials are really good. Do some homework, buy some Target. And it’s just boom, boom, boom, all the way down (pit road).
>Earlier: ‘Mad Money’ Cramer at speedway
