CNBC's Jim Cramer on Friday reminisced about notable investor and mentor Byron Wien.
CNBC's Jim Cramer on Friday looked back at his memories of longtime friend and mentor Byron Wien, a prominent figure on Wall Street.Jim Cramer
on Friday remembered Byron Wien, a famed investor known for his annual "Ten Surprises" list that was considered an essential read by many on Wall Street. Wien"Byron never ever said that the whole market was too perilous, he never scared you," Cramer said. "He was an optimist, always on the lookout for new ideas and the young people who believed in them."
Cramer said he always pored over Wien's "Ten Surprises" list, which was published for 38 consecutive years. To Cramer, some of Wien's ideas may have been "outlandish," but he said they always made him think. Wien acted as a mentor to Cramer when the latter was a young hedge fund manager, and that mentorship turned into a long-lasting friendship, even when Cramer left the business. In the late 1980s at a dinner of managers hosted by Wien, Cramer recalled pitching a story about personal computers becoming as powerful as mainframes, thanks to new chips made by. At the time, many felt Cramer's theory was "pure hyperbole," but Wien told him it was the best idea he'd heard in years.
"Somehow, when I first got started in this business, I foolishly believed there had to be a ton of Byron Wiens out there, lots of brilliant people who believed in the craft of stock picking and idea generation," he said. "But there weren't."
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Jim Cramer's top 10 things to watch in the stock market ThursdayStocks are set to open lower as the Street prepares for another busy day of earnings.
Read more »
Investor Byron Wien of Blackstone dies at 90His annual “Ten Surprises” list, which he wrote for 38 years, was required reading on Wall Street.
Read more »
Blackstone Investment Strategist Byron Wien Dies at 90The Wall Street prognosticator widely known for his annual Ten Surprises lists worked to the end
Read more »
Jim Cramer names six stocks worth looking to buy if there's a major sell-offAmong the names CNBC’s Jim Cramer likes are Procter & Gamble, General Electric and WM.
Read more »
Jim Cramer names six stocks worth looking to buy if there's a major sell-offAmong the names CNBC's Jim Cramer likes are Procter & Gamble, General Electric and WM.
Read more »
Jim Cramer names six stocks worth looking to buy if there's a major sell-offAmong the names CNBC’s Jim Cramer likes are Procter & Gamble, General Electric and WM.
Read more »