‘Inverse’ Jim Cramer ETF lets you bet against his stock picks
Critics of CNBC anchor Jim Cramer’s stock analysis now have a way to try to monetize their skepticism.
Cramer has emerged as a polarizing figure during his long career at CNBC — with detractors often pointing to instances in which his predictions are at odds with specific stocks or the economy as a whole.
A pair of exchange-traded funds tied to Cramer’s stock picks was launched Thursday by Tuttle Capital Management CEO Matthew Tuttle. Bloomberg reported.
One of the funds, the Inverse Cramer Tracker ETF, allows investors to actively bet against the “Mad Money” host by shorting stocks on CNBC’s airwaves or going “long” on the companies he advises against. gives
“If he specifically says either buy, buy, buy a stock, we’re going to short that stock at the next practical moment,” Tuttle said during a recent appearance on Bloomberg’s “Trillion’s” podcast. said
“If he tells you he hates a stock or sells, sells, sells or something like that, we’re going to be longing that name again at the next kind of practical entry point,” Tuttle added.
The second fund, the Long Cramer Tracker ETF, will take the opposite approach and follow the CNBC personality’s advice.
To facilitate the business, Tuttle and his two colleagues would track Cramer’s TV appearances and Twitter account.
“Jim’s mission has always been to promote long-term investing and a balanced portfolio that includes index funds and individual stocks,” a CNBC spokesperson said in an email to Bloomberg.
“He considers Mad Money his classroom and believes that educating people who want to pick individual stocks through insight and experience is the best way to help them take control of their finances,” the spokesperson added. is,” added the spokesperson.
Tuttle’s firm offers a similar ETF that shorts stock pictures that tech investor Kathy Wood includes in her flagship ARK Innovation ETF.
Cramer often fires back at opponents by citing his long career as a stock picker, as he did last year when news of planned inverse ETFs first emerged.
“As always I welcome people betting against me,” Cramer tweeted last October. “I’ve done this for 42 years.”
“People who know me know that from the start you’re betting against Apple 5, Google, Meta at $18, Amazon at $18, Nvidia at $25 and AMD at $5. . I welcome all comers,” he added.
A notable instance in which Cramer’s stock advice went viral was earlier this year, when tech giant Meta rallied on Mark Zuckerberg’s announcement of a massive cost-cutting push.
Months ago, an emotional Cramer publicly abandoned the stock after a disappointing earnings report.
In February, the @CramerTracker Twitter account, whose bio says it “tracks Jim Cramer’s stock recommendations so you can do the opposite,” pointed out that Meta’s shares doubled in price after Cramer withdrew. is