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How Jim Cramer Skillfully Navigated the 1987 Black Monday Crash -- Video

TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer remembers the October 19, 1987 stock market crash. He started his hedge fund just months before in February 1987. The market was quite robust prior to the crash (except for the week before the crash, which saw significant declines), according to Cramer, thanks to demand from Japanese investors. "I was in cash for the crash," Cramer said. "This was basically my claim to fame as a hedge fund manager when I would go see people to raise money." For Black Monday, all Cramer held were Johnson & Johnson puts, which "made a fortune for us."
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