You may wager in opposition to Jim Cramer with a brand new ETF from the fund that shorts Cathie Wooden

What began out as a meme has lastly develop into actuality: somebody has invented the Inverse Cramer.

Few inside jokes on monetary Twitter, or fintwit, take pleasure in extra reputation than the idea that one ought to at all times pay attention intently to what CNBC’s colourful “Mad Cash” host Jim Cramer predicts…after which wager invariably on the precise reverse consequence.

One fan of the concept seems to be Matthew Tuttle, of Connecticut-based Tuttle Capital Administration, who now plans to promote a safety underneath the ticker image SJIM for quick Jim.

His agency has filed a prospectus with the Securities and Change Fee for an actively managed exchange-traded fund (ETF) that seeks to offer a efficiency roughly the alternative of the funding return of belongings really helpful by the “tv persona”, because it refers back to the former hedge fund supervisor.

https://twitter.com/TuttleCapital/standing/1577759764192305154?s=20u0026t=jA-GxrxNADL3UeQkkurh-Q

“The fund’s adviser displays Cramer’s inventory choice and general market suggestions all through the buying and selling day as publicly introduced on Twitter or his tv packages broadcast on CNBC, and sells these suggestions quick,“ it mentioned within the submitting, including it could go lengthy on his bearish suggestions.

“Beneath regular circumstances, not less than 80% of the fund’s investments is invested within the inverse of securities talked about by Cramer,” it continued.

He additionally shorts Cathie Wooden

If Tuttle’s title sounds acquainted that’s as a result of this isn’t the primary time he has performed this.

His agency reached notoriety with its ETF that shorts Cathie Wooden’s ARK Innovation fund, a product that trades underneath the ticker image SARK.

Tuttle has a knack for providing ETFs with a selected funding theme. He launched his SPCX fund that tracks clean examine acquisition corporations, so-called SPACs, in December 2020 on the peak of their reputation.

Genevieve Roch-Decter, CEO of Grit Capital and a critic of Cramer, posted on Wednesday her approval of the SJIM fund: “Lastly, a approach to outperform the market.”

Story continues

https://twitter.com/CramerTracker/standing/1517537287063711746?s=20u0026t=AwOEeICzWF2o_JtFwa6d0Q

Musk referred to as him a ‘contra indicator’

Cramer first earned his popularity for selecting duffs when he advised individuals to not pull their cash out of Bear Stearns simply days earlier than its collapse in March 2008.

When he really helpful buyers not subscribe to the Tesla IPO at a stock-split adjusted value of $1.13, Elon Musk quipped on the time “We’re no Bear Stearns, however I believe we’re going to do okay.”

His EV firm generated “life-changing wealth” as monetary web site The Motley Idiot referred to as it, rising to a present $240 per share.

“Frankly he’s a contra-indicator,” Musk mentioned in 2010.

Extra lately Cramer earned notoriety in October 2020 along with his “Magnificent Seven” suggestion, a basket of names he felt buyers coveted a lot that their earnings didn’t matter and any dip served solely as one other purchase alternative.

Outstanding names included all the main darlings of the pandemic bubble akin to Netflix, Zoom and Peloton. All have since collapsed in worth, with solely Tesla managing to put up sizable good points.

He is additionally referred to as it incorrect on crypto, recommending token trade platform Coinbase as a purchase up to $475 a share the day of it itemizing in April 2021.

Not solely did it by no means hit that stage, it has since slumped to $73 a share. He predicted Ethereum’s ETH coin might rise one other 35% late after it fell under $3,000 in late April of this 12 months, prompting crypto web site U.Right this moment to run an article with the headline “Neighborhood is now apprehensive”.

Social media took it a step additional final November when a Twitter account launched with the deal with @CramerTracker promoting it tracks his inventory suggestions “so you are able to do the alternative.” It has since gained over 100,000 followers.

Cramer shouldn’t take the entire debate round his efficiency too onerous, although, since Tuttle Capital additionally utilized for an ETF that seeks to breed his efficiency as effectively.

This story was initially featured on Fortune.com