CNBC’s Jim Cramer goaded his myriad non-believers online Friday with a challenge: bet against him. He challenges you.
Cramer bragged on Crypto Twitter that he has divested bitcoin Y Ethereal and bought a farm and a ship with the loot. He then convinced skeptics of his crypto market analysis to participate in his anti-Cramer positions.
Soon, those skeptics will be able to do just that.
According to a SEC filing since earlier this week, Tuttle Capital Management has applied to launch two exchange-traded funds, the Inverse Cramer ETF (SJIM) and the Long Cramer ETF (LJIM), which will put an investor’s funds on the opposite side of whatever the broadcast television personality advises on his CNBC show “Mad Money” and through his Twitter account.
“The Fund is an actively managed exchange-traded fund that seeks to achieve its investment objective by engaging in transactions designed to realize the opposite of the return on investments recommended by television personality Jim Cramer (“Cramer”),” it reads. in the SEC filing. “Under normal circumstances, at least 80% of the Fund’s investments are invested in securities inverse to those mentioned by Cramer.”
The history of the relationship between Cramer and Crypto Twitter is long and storied. Once a fiery crypto bull that said it was “almost irresponsible” not to buy Bitcoin, Cramer had a 180 degree turn change of heart once the crypto markets crashed earlier this year.
On Twitter, the apparent patterns of failure of Cramer’s financial advice led perfectly to the emergence of a parody account titled “Inverse Cramer ETF,” which gloated whenever Cramer’s forecasts turned out to be precisely wrong.
As Cramer developed a growing skepticism about crypto assets after the May crypto crash, the TV host began amassing a tongue-in-cheek following on Crypto Twitter, with users joking, or maybe not, positing that while Cramer continued to attack cryptocurrencies, there was hope. to the market
Cramer’s statement today may have been a form of acknowledgment of the lack of deference his financial advice is now generally given online, and potentially of his awareness of a possible batch of publicly traded anti-Cramer financial products.
However, as one Twitter user posited, what “Beginning”Would a level event occur if Cramer ever turned bullish on the reverse Cramer?
Stay on top of crypto news, get daily updates delivered to your inbox.
