RealMoney Radio Recap: Question Time

Cramer said that 50% of a stock's move is due to its sector, while the other 50% is based on the individual workings of a company. A company's sector matters so significantly because it is generally influenced by larger forces like the Fed.

When the Fed tightens rates, some sectors do better, and some don't, he said.

Working Wall Street

Looking back at his years of experience in the market, Cramer said he first got into this business by managing his own account, and then he moved on to managing other people's money. He worked at Goldman Sachs(GS Quote), and now he handles his charitable trust, Action Alerts PLUS.

The best job on Wall Street is the job of being a full-time trader, he said. The trader is the guy who makes the meeting of the minds occur. He is the one who brings the seller and the buyer together and negotiates the price.

The reasons Cramer believes this is the best job on Wall Street is because: a) you're paid a fortune and b) you get in at 8:30 a.m. and are out by 4 p.m.

The second-best job is that of a broker, he said. This is the person who finds the client who wants to do the stock trade. As a broker, Cramer said he got his clients by taking them out to shows and dinner every night.

"When I was a trader I entertained four times a week and it made me a lot of money," he said.

Another job one can have on Wall Street is that of an analyst. They would try to find companies that are private and try to convince them to become public.

But it was corrupt, and New York State Attorney General Eliot Spitzer found out, Cramer said. Now analysts have to actually be good at what they do, since only a few survive, and some of them have gone over to the buy side, which are the hedge funds, he said.

A terrible job that used to be great is that of a floor trader. Floor traders used to be able to clip you and take a little extra money from your pocket, but because of wiretaps and cameras and other ways of checking this behavior, this job is no good, he said.