Jim Cramer, the host of CNBC’s Mad Money, dared his opponents to go against him, to go all in on their “anti-Cramer” positions. He revealed to Crypto Twitter that he has divested from Bitcoin and Ethereum, and bought a farm and boat with spoils. Cramer said he has disclosed everything and now he wants his doubters to go against him. The TV personality said one does not do this for 42 years and loses money every year.
Earlier this week, Tuttle Capital Management applied for the launch of two ETFs – the Inverse Cramer ETF (SJIM) and the Long Cramer ETF (LJIM) with the Securities and Exchange Commission. These ETFs intend to put the investors’ funds towards the opposite of whatever Jim Cramer advises on his CNBC program Mad Money. According to the SEC filing, the fund is an actively managed ETF that seeks to achieve its investment objective by engaging in transactions designed to perform the opposite of the return of investments suggested by Cramer. It said at least 80% of the Fund’s investments, under normal circumstances, are invested in the inverse of securities mentioned by Cramer.
Cramer is described as a crypto bull who believed it was almost irresponsible not to buy Bitcoin, to having a 180-degree change of heart once crypto markets crashed earlier this year. Reports highlight that patterns of Cramer’s financial advice backfired and led to the emergence of a parody account titled “Inverse Cramer ETF”. These ETFs gloat whatever the Mad Money host’s prognostications turned out to be precisely incorrect.