RealMoney Radio Recap: Question Time

As part of a special "Frequently Asked Questions" edition of his "RealMoney" radio show Monday, Jim Cramer offered a different kind of show, where he said he wanted to "loosen the tie, sit at the corner table and take your questions."

After 25 years in the market, Cramer said he has seen a lot that has gone on and has pretty much held every job there is.

"There are some questions people ask me regularly," he said. For one, people like to ask him about the most he has ever lost.

Cramer said he lost close to $300 million in 2000. However, that same year he made $450 million.

He lost $15 million in one day with Cendant (CD Quote) while he was on vacation. It was a miserable experience, he said.

Another question people like to ask is whether or not college courses in business and finance are worth taking.

Most professors have not made a dime, and they believe stocks are priced perfectly, which is not true, Cramer said.

Many times, stock prices diverge from their fundamentals, but that's when the money's made, he said. When a stock is down, but the company's fundamentals are good, people are likely to make money.

In response to the question "What does 'Booyah' mean?" Cramer said the word stems from a listener who made a lot of money in KMart.

Another frequently asked question: "What are the factors that most affect the price of a stock?"