Alternative Investments: Want To Bet Against Jim Cramer? An ETF For That On The Way

October 7, 2022 | Alternative Investments, News
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Tuttle Capital, which floated an ETF to short Cathie Wood’s holdings, is doing a repeat act with Cramer.

Tuttle Capital Management will soon launch the Long Cramer ETF (LJIM) and the Inverse Cramer ETF (SJIM), according to a Wednesday filing with the SEC. These ETFs will allow investors to take a long or short position respectively with reference to the stock picks proposed by popular television star Jim Cramer. Cramer is the host of the famous Mad Money weeknight show on CNBC, which reportedly had a viewership base of 150K round the year. (24/7 Wall St)

INVERSE CRAMER ETF (SJIM)

This ETF will take positions that are the opposite of those that are recommended as a buy by Jim Cramer.

The Fund is an actively managed exchange traded fund. Under normal circumstances, at least 80% of the Fund’s investments is invested in the inverse of securities mentioned by Cramer.

The Fund’s adviser monitors Cramer’s stock selection and overall market recommendations throughout the trading day as publicly announced on Twitter or his television programs broadcast on CNBC, and sells those recommendations short or enters into derivatives transactions such as futures, options or swaps that produce a negative correlation to those recommendations. The Fund goes long on stocks or ETFs that represent sectors that Cramer is negative on. The Fund uses Index ETFs and inverse Index ETFs to take the opposite side of Cramer’s announced market view.

The Fund’s portfolio is comprised generally of 20 to 25 equally weighted equity securities of any market capitalization of domestic and foreign issuers. If Cramer does not take any view on any of the securities in the Fund’s portfolio, the adviser retains discretion to sell positions once profit or loss targets are met, or market conditions such as large swings in either direction necessitate a sale and replace them with securities that meet the criteria of the Fund’s initial portfolio. Under normal circumstances, the Fund will hold positions no longer than a week but could hold position longer if Cramer continues to have a contrary opinion.

LONG CRAMER ETF (LJIM)

This ETF will follow and take exposure to the investments recommended by Cramer.

The Fund is an actively managed exchange traded fund. It invests at least 80% of its assets in securities mentioned by Cramer.

The Fund’s adviser monitors Cramer’s stock selection and market recommendations throughout the trading day as publicly announced on Twitter or his television programs broadcast on CNBC, and follows those to produce a direct correlation to those recommendations. The Fund goes long on stocks or ETFs that represent sectors that Cramer is positive on. The Fund uses Index ETFs and inverse Index ETFs to take the same side of Cramer’s announced market view.

The Fund sells securities when Cramer recommends selling the security or if, at the adviser’s discretion if Cramer takes no position on the security for over a week. The Fund’s portfolio is comprised generally of 20 to 25 equity equally-weighted securities of any market capitalization of domestic and foreign issuers.

Jim Cramer: CNBC comments

In an email to Bloomberg, a CNBC spokesperson commented: “Jim’s mission has always been to encourage long-term investing and a balanced portfolio that includes index funds and individual stocks.”

“He regards Mad Money as his classroom and believes educating those who want to pick individual stocks through insight and experience is the best way to help them take control of their finances.”

Tuttle and Cathie Wood

Tuttle launched an inverse (anti-) ETF targeting Cathie Wood in November 2021. The AXS Short Innovation Daily ETF (NASDAQ: SARK) has gained nearly 90% since launch and currently boasts of over $350 million in assets.

Related Story: New ETF From Tuttle Capital Bets Against Cathie Wood And Ark

Photo: Wikimedia Commons

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