Even before meeting him for the first time, Altucher said Cramer's book, Confessions Of A Street Addict, was one of his favorite reads. He said the new book is an "investor's bible" that offers a glimpse into how Cramer has struggled to figure out the market.
"You can't be glib anymore," Cramer said, because the market doesn't work the way that it used to. Cramer added the book is filled with the ways "I screwed up. I don't know what I'm doing."
When asked why the book didn't hit the shelves earlier, Cramer said he didn't have anything worthy to write in a book, and was trying to figure out how the market became this hard to figure out.
The market is now filled with hard-to-explain companies including Google (GOOG) Amazon (AMZN) and Starbucks (SBUX). The market also has IPO blunders such as Facebook (FB) and "flash crashes" around which investors have had to navigate.
Cramer said he worked on the book for about a year and a half before contacting his publisher about it. It's a "confession of what I did wrong, in order for you to do better," Cramer concluded.
-- Written by Bret Kenwell in Petoskey, Mich.