BlocksInform
A rather interesting pair of ETFs that follow Jim Cramer's equity recommendations started. The Inverse Cramer Tracker ETF ($SJIM) and the Long Cramer Tracker ETF ($LJIM) are now available for U.S. investors that are looking to bet against or in favor of the stock picks made by the Wall Street pundit. The Cramer-themed ETFs have managed to get approval from regulators before the much-awaited spot Bitcoin ETF
Jim Cramer welcomes criticism for his stock picks
Jim Cramer has always been a contentious character in the financial world. Its famous "ours stearns is fine" just prior to the collapse of the investment bank in 2008, some of her latest choices, notably Tesla, that has since declined by more than 10 per cent, Cramer's stock picks have been ridiculed a lot. When the reverse ETF crashed for the first time last October, the crazy money star welcomed those who wanted to bet against him.
As always, I welcome people who gamble with me. I've been doing this for forty-two years. Those who know me know that you would have been betting against Apple at 5, Google since inception, Meta at $18, Amazon at ten, Nvidia at $25 and AMD at $5. i welcome all comers..
— Jim Cramer (@jimcramer) October 7, 2022
According to a report by Bloomberg, the Inverse Cramer ETF will either buy the stocks that the CNBC Mad Money star recommends against or short-sell the ones that he actively promotes on his show, to deliver returns to investors. The long cramer etf on the other hand will buy the companies as favors of the financial expert, and let down those he does not like. $sjim now trades for $25.03 and $ljim trades for $25.46.
If he says he hates equities or sells them, sell, selling or whatever, and then we'll take that name back at the next convenient port of entry."
From Tuttle Capital Management, we have Matthew Tuttle, CEO.
Cramer-themed ETFs were launched by Tuttle Capital Management, the company behind the $551M (SARK) AXS Short Innovation Daily ETF. Sark is an anti-ark ETF leveraging the investment strategy of Cathie Wood. Matthew Tuttle, CEO, told Bloomberg that both ETFs have a balanced portfolio with an expense ratio of 1.2%. Tuttle’s team reportedly watch Cramer’s appearance on Mad Money and other interviews to determine which stocks go into the ETFs which hold anywhere between 20 to 50 of his stock picks.
