- Jim Cramer has challenged online non-believers to bet against him.
- Looks like that the Inverse Cramer ETF (SJIM) might turn into a reality.
- Cramer’s faith in Bitcoin fizzled out when the crypto markets crashed.
On Friday, Jim Cramer pushed his large number of online non-believers with a challenge- bet against him. He dares you.
This was followed by him urging those to go in their anti-Cramer positions who doubted his analyses about the crypto market. And it seems like those doubters might soon do that.
As far as crypto, same: i bought a farm with my Bitcoin winnings, all announced, and i bought a boat with Ethereum. All announced. Everything disclosed. I WANT you to bet against me. You do not do this for 42 years and lose money evert year.— Jim Cramer (@jimcramer) October 7, 2022
Based on an SEC filing, Tuttle Capital Management has made the move to release two exchange-traded funds, the Long Cramer ETF (LJIM) and the Inverse Cramer ETF (SJIM) to put any investor’s capital to exactly the opposite of everything Cramer recommends on Mad Money, his CNBC program and on his Twitter as well.
The SEC filings stated:
The Fund is an actively managed exchange traded fund that seeks to achieve its investment objective by engaging in transactions designed to perform the opposite of the return of the investments recommended by television personality Jim Cramer (“Cramer”).
In usual conditions, about 80% of the Fund’s investments is used in the inverse of securities told by Cramer.
Cramer and Crypto Twitter share a relation with a long and storied history. At a time, Cramer used to be a crypto bull and said that not purchasing Bitcoin is irresponsible. However, his perspective changed as soon as the crypto markets collapsed in 2022.
On Twitter, Cramer’s clear failures regarding financial advice resulted in the creation of a spoof account, Inverse Cramer ETF, that took pleasure every time his predictions turned out to be false.
Meta is down another $65 since Jim’s bottom call pic.twitter.com/oGXFh7IMhp— Inverse Cramer ETF (Not Jim Cramer) (@CramerTracker) September 30, 2022
His rise in skepticism of crypto assets during the fallout of crypto in May led to him making a sarcastic following on Crypto Twitter, where users jokingly and probably not, took dig that until he continues bashing crypto, the market will have hope.
Cramer’s statement today may have been some form of acknowledgment of the disrespect regarding his financial advice, provided on the internet, and probably his realization of a possible batch of publicly traded financial products that aim to target him.