Money manager proposes anti-Cramer ETF

Tuttle Capital Management — which previously launched an exchange-traded fund betting against Cathie Wood’s stock picks — plans to debut the Inverse Cramer ETF with the ticker SJIM, reports Claire Ballentine of Bloomberg News.

Ballentine reports, “The host of Mad Money on CNBC is an outspoken and polarizing figure in the finance world, known for his ardent endorsements of various stocks, with mixed results. In 2021, he praised Ark Investment Management’s Wood just before her flagship fund plummeted, and he also famously tweeted to buy AMC Entertainment Holdings Inc. just prior to a 30% plunge.

“‘Jim’s mission has always been to encourage long-term investing and a balanced portfolio that includes index funds and individual stocks,’ a CNBC spokesperson wrote in an email to Bloomberg News. ‘He regards Mad Money as his classroom and believes educating those who want to pick individual stocks through insight and experience is the best way to help them take control of their finances.’

“The Inverse Cramer ETF would be actively managed, meaning financial professionals behind the scenes would monitor Cramer’s stock selections and overall market recommendations through Twitter or his television appearances, according to the filing.”

Read more here.