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Tags: jim cramer inverse etf

Inverse Jim Cramer ETFs Let Investors Bet Against 'Mad Money' Host

Inverse Jim Cramer ETFs Let Investors Bet Against 'Mad Money' Host
Jim Cramer, anchor of CNBC's "Mad Money" (Mark Lennihan/AP)

By    |   Friday, 03 March 2023 05:27 PM EST

Tuttle Capital Management has launched a pair of inverse exchange-traded funds (ETFs) to let investors bet against the stock recommendations of CNBC “Mad Money” host Jim Cramer.

The raucous Cramer has made a name for himself by picking some home runs, as well as some duds, over the years, Bloomberg reports. It’s even led to a longstanding joke on Wall Street that the brash CNBC anchor should get his own inverse fund.

Cramer recently roasted his mistaken calls in a tweet: “As always, I welcome people betting against me. I have done this for 42 years. Those who know me know that you would have been betting against Apple at ($)5, Google since inception, Meta at $18, Amazon at ($)ten and AMD at $5. i welcome all comers.”

Tuttle Capital Management launched the two ETFs based on the polarizing stock picker's calls on Thursday, the Inverse Cramer Tracker ETF (SJIM) and the Long Cramer Tracker ETF (LJIM).

“If he specifically says either buy, buy, buy a stock, then we’re gonna go short that stock at the next practical moment,” Matthew Tuttle, CEO of his eponymous firm said on Bloomberg’s Trillions podcast.

“If he tells you he hates a stock, or sell, sell, sell or something like that, then we’re gonna go long that name again at the next kind of practical entry point.”

Tuttle is managing the ETFs, which charge a 1.2% expense ratio, in a very low-tech manner. Tuttle and two of his colleagues watch Cramer’s TV appearances throughout the trading day and monitor his Twitter account to manage baskets of stocks of just 20 to 50 names. The turnover of the holdings is high, Tuttle said.

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StreetTalk
Tuttle Capital Management has launched a pair of inverse exchange-traded funds (ETFs) to let investors bet against the stock recommendations of CNBC "Mad Money" host Jim Cramer.
jim cramer inverse etf
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2023-27-03
Friday, 03 March 2023 05:27 PM
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