Sunday, November 27, 2022
HomeTechnologyTuttle Capital launches two ETFs to trade against Jim Cramer investment

Tuttle Capital launches two ETFs to trade against Jim Cramer investment

Tuttle Capital, an advisory firm, on October 5, has filed two ETFs (exchange-traded funds), that it designed to trade against investing advice of Jim Cramer, the host of the well-known CNBC programme “Mad Money.”

Tuttle Capital issued a preliminary document to the SEC on October 5, to trade against Jim Cramer’s investments via the Long Cramer ETF (LJIM) and Short Inverse Cramer ETF (SJIM).

As per the filing, the Short Inverse Cramer ETF (SJIM) will take a position in opposition to any equities that Cramer openly endorses on Twitter or in his Mad Money show. The performance of Cramer’s investment will be tracked via Long Cramer ETF (LJIM).

Currently, Tuttle Capital’s investments comprise around 80% of the inverse of Cramer’s suggested equities.

In November 2021, Tuttle Capital introduced an Inverse ETF to compete with Cathie Wood’s ARK Invest. To bet against the ARK Innovation ETF (ARKK), the Short Innovation ETF (SARK) was developed. It is currently 83% up.

Eric Balchunas, a senior ETF analyst at Bloomberg, forecasted the possibility of a Cramer ETF via tweet, after the launch of SARK.

Tuttle Capital

Jim Cramer is a seasoned stock market investor recognised for his contrarian investment approach. While everyone else is selling, he purchases and vice versa.

The predictions made by Cramer have often become inaccurate on various events, since he dabbled in cryptocurrency. 

Cramer declared he was selling his bitcoin in July, claiming it has “no actual worth,” after the cryptocurrency market went below the $1 trillion threshold. By the end of the month, Bitcoin recovered and recorded the highest monthly gain of 17%.

Additionally, Cramer forecasted a possible decline in Coinbase share price in the wake of the SEC inquiry in July. Unfortunately for him, a week later, Coinbase stock rose up to 50%.

Algod, a well-known cryptocurrency trader, bet to trade against all of Cramer’s forecasts. Algod said that by trading against Jim Cramer in August, he had doubled his investment of $50,000.

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