Jim Cramer slams inverse ETFs targeting his stock picks 6 days after…

Jim Cramer slams inverse ETFs targeting his stock picks 6 days after…

Facebook
Twitter
LinkedIn

CNBC anchor and prominent financial media figure Jim Cramer is known for being called upon to change his mind. In less than a week, Cramer changed his mind an ETF that targets his comments.

What happened: Tuttle capital management submitted last week to launch two new ETFs that take Cramer’s opinions and recommendations.

The ETFs are the Inverse Cramer ETF with ticker SJIM and the Long Cramer ETF with the ticker LJIM representing Short Cramer and Long Cramer respectively.

The Inverse Cramer ETF bets against Cramer’s stock recommendations on Twitter and during its airtime on CNBC, a unit of Comcast Corporation CMCSA.

Cramer changes his mind: Cramer posted news of an Inverse Cramer ETF on October 7th welcomed the fund.

“As always, I’m happy about people betting against me. I’ve been doing this for 42 years,” Cramer tweeted. “Those who know you would have bet against Apple at 5, Google since inception, Meta at $18, Amazon at 10, Nvidia at $25 and AMD at $5. I welcome all comers.”

Cramer touted his track record of recommendations outside of stocks with commentary on cryptocurrency, a topic he’s tweeted about frequently over the past year.

“I bought a farm with my bitcoin profits, announced everything, and I bought a boat with Ethereum. All announced.”

Cramer said he has had a successful track record for many years: “I want you to bet against me. You don’t do that for 42 years and lose money every year.”

The CNBC host said the new inverse ETF is nothing new and won’t last long.

“These are my only comments on this ‘exciting’ new way for a promoter to make money and I’m sure it can be tricked into making me look bad. And it won’t be new long after players move to CDs and cash… Good luck…”

Spoiler alert: These weren’t the last of Cramer’s comments on ETFs.

Just six days after saying the last word about the bet against him,…

[ad_2]

Source story

More to explorer