Someone finally went ahead and did it.
Tuttle Capital Management, the Connecticut-based advisory firm on Wednesday submitted a preliminary prospectus filing with the United States Securities and Exchange Commission for two new exchange-traded funds (ETFs) that will bet against Jim Cramer’s investment tips.
Jim Cramer, the energetic host of CNBC’s Mad Money, has gained a reputation for giving investment tips that end up being way off, or the actual opposite — thus inverse Cramer. The phenomenon has turned the host into a meme generator and has birthed an inverse Cramer tracker on Twitter.
“Under normal circumstances, at least 80% of the Fund’s investments are invested in the inverse of securities mentioned by Cramer,” according to Tuttle Capital in the filing.
Interestingly, Tuttle Capital is also the firm behind the Turtle Capital Short Innovation ETF (SARK), which bets against the ARK Innovation ETF (ARKK) from Cathie Wood’s ARK Invest. The SARK ETF is up 83.76% since it was launched on November 9.
If Tuttle Capital’s preliminary prospectus SEC filing gets approved, there will be a short ETF called Inverse Cramer ETF (SJIM) and a long ETF called Long Cramer ETF (LJIM).
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