Invest Like a Shark
offers more than just great investment advice, Jim Cramer said on TheStreet.com TV's Wall St. Confidential Web video on Friday. James "Rev Shark" DePorre's new book is also an eye-opening look into what people are capable of accomplishing in life.
Cramer asked the author and
columnist to talk about his career as a lawyer, how it didn't work out because of certain physical handicaps and how he managed to come up with "a much better career," which eventually led to his writing
the new book.
Cramer & Shark: Beat the Odds, Make Money
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After graduating from the University of Michigan Law School, DePorre said he worked as an attorney and certified public accountant while trying to start a law practice in Ann Arbor, Mich.
Out of nowhere, he started losing his hearing. "One day I was on the phone ... and I just simply couldn't hear anymore," he said. Soon, DePorre said he lost everything -- his wife, his law practice and basically everything he owned. He was "lonely, destitute" and had absolutely no idea what he was going to do with his life.
Around the same time, "the Internet had just started to evolve and it allowed me to communicate with people because I had been reduced to actually writing notes," DePorre said. The Internet, he said, permitted him to talk to people about an intelligent topic that was interesting to him: the stock market.
He fell into discussion boards, and in time scraped together a very small amount of cash, he said. "I started looking at the stock market in a different way."
DePorre knew he wasn't a mutual fund and wouldn't be able to compete against them, so he tried to come up with a different approach. He figured if he could take his small size, his little bit of capital and his ability to be flexible, capitalize on those things and "swim circles" around the "big whales" in the market, then maybe he could make some money.
In the end it came together and he did make money. The different strategies and methods he used are in his book, DePorre said.
When Cramer asked DePorre how he has evolved over time, DePorre said one of the things he's learned "that has really been difficult" is how much harder it is to go from managing a small individual account to managing money as a money manager.
"It is a very different game" and the media doesn't always recognize the differences between the two, he said. "
But that's one of the things I've struggled with the most as I've become more successful."
Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for
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