It’s happened: Someone’s filed for Cramer ETFs with the SEC
Connecticut-based advisory firm Tuttle Capital Management has submitted a preliminary prospectus filing with the U.S. Securities and Exchange Commission (SEC) for two new exchange traded funds (ETFs) centered around betting against the investment tips from Jim Cramer.
Cramer is the host of CNBC’s Mad Money, and has become a popular meme in the crypto and stock community, who believe he has an uncanny knack of giving investment tips that end up being way off the mark.
In relation to crypto, one of Cramer’s most notable tips was to buy Coinbase stock COIN when it was “cheap” at $248 in August last year. Since then COIN has continued to collapse, and sits at $72.97 at the time of writing.
Finally happened: Cramer ETFsInverse Cramer ETF $SJIMLong Cramer ETF $LJIMEff Dec 1920-25 equal-weighted stocks/ETFs based on Cramer's Twitter & TV recommendations and market views. Positions exited if Cramer has no view & once profit targets met.https://t.co/ZvA5G2zoTX pic.twitter.com/tY9yBMt15s
According to the Oct. 5 preliminary prospectus SEC filing, if approved, Tuttle Capital Management would launch a short ETF named Inverse Cramer ETF (SJIM), and a long ETF called Long Cramer ETF (LJIM).
The company notes in the filing that the investment objective is to provide investment results “that are approximately the opposite of, before fees and expenses, the results of the investments recommended by television personality Jim Cramer.”
To select the weighting of each ETF, Tuttle Capital Management will essentially take the opposite position of whatever Cramer publicly picks on CNBC or Twitter, however it will be purely stock based and not crypto assets.
“Under normal circumstances, at least 80% of the Fund’s investments is invested in the
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