what babak said is dead-on.
the amazing part is that cramer hasn't applied this to himself, since he KNOWS it exists.
from his book (the one with his face huge on the cover), he said that when he was at the firm, some CEO came by to talk with them, and cramer was high fiving him, etc.
came out of the meeting, and asked berkowitz what their position was in the stock. berkowitz told him he (berko) had sold it all...as soon as he saw cramer high-fiving the guy.
he also talks about selling out in october '98, and his wife 'saving' the firm...and that he was selling.