Hedge-Fund Manager Wants Cramer Off His Screen

Dec 4 2014 | 1:47pm ET

A hedge fund is handing out the kind of harsh message to Jim Cramer that he’s used to doling out. Simply, Cannell Capital wants the television investment guru to shut up, or sell up.

The hedge fund questioned whether Cramer is spending too much time at CNBC to revive the flagging fortunes of TheStreet.com, the financial news website he founded in 1996. Cannell wants Cramer to quit his high-profile TV job to focus on TheStreet.

“You are simultaneously an employee of CNBC and a director, major shareholder and employee of TST,” hedge-fund manager J. Carlo Cannell wrote to Cramer. “To which entity do you ascribe your greater allegiance?”

“Resign from CNBC and align your considerable energy and talents to helping your fellow sharheolders crawl back from Hades,” Cannell wrote, referring to TheStreet’s slumping share price and years of losses.

Cannell also said that Cramer should take a pay cut when he returns to TheStreet full-time, asking “why in the very worst years for TST shareholders must you pay yourself more than $3.5 million per year?”

Cannell did say he was pleased by improving results at TheStreet—but credited them to CEO Elisabeth DeMarse.

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