HEDGE FUNDS--OR, HOW THE RICH GET RICHER

It is 9:30 a.m. on Wall Street. Four blocks from the New York Stock Exchange and eight stories up, fund manager James Cramer is up and shouting with the market bell, greeting the first move of the tape with his usual salute: "There goes Swifty!" Cramer picked up the incantation at a dog track in his youth (Swifty was the mechanical rabbit), but he's used it to start trading since the day two years ago when, he says, he had "a huge up day" after muttering the phrase. Cramer, who manages hundreds of millions of dollars for a group of 38...

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