Cramer: Welcome Back, Greenberg
NEW YORK (Real Money) -- Welcome back, Herb Greenberg!
I can't wait to read him every day and get my reality check -- get my "Herb on the Street," get my daily dose of skepticism that's so important to successful investing.
For those of you who don't know it, Herb and I go way back -- back so far that it makes me smile to think about how I first talked to him. When I was a hedge fund manager, there was one man in journalism who had the pulse of what not only was working but, more important, what shouldn't be working. His name? Herb Greenberg. His daily column in the San Francisco Chronicle defined much of the debate on the stocks the market coveted, often falsely, and his critical thinking often ran counter to the gospel I believed about certain stocks that I owned for my fund. So I paid someone in San Francisco to fax me his column the moment it hit the street so I would have an edge over others who waited to hear about it later in the day. I couldn't afford to wait. Too much was on the line.
When I started TheStreet in 1996, the first call I made was to Herb Greenberg. I didn't know him from Adam. (Close readers of the site might think I am referring to Adam Lashinsky, the amazing reporter who, at my urging, also soon came to work for TheStreet, but I am speaking figuratively here.) I said to myself and to Herb that if I could get him to work for TheStreet, it would have instant legitimacy. So I began the wooing. The first stop? The Securities and Exchange Commission.
Herb, justifiably, was concerned that a hedge fund manager would be establishing a Web site for one reason: to tout his stocks. I agreed, which is why I had already contacted the SEC to get the agency's blessing for my project and what kind of Chinese walls could be set up to ensure that such a travesty could never happen. We worked things out to the SEC's satisfaction.