Tuttle Capital Administration — which previously introduced 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 experiences, “The host of Mad Money on CNBC is an outspoken and polarizing determine in the finance earth, known for his ardent endorsements of various stocks, with combined outcomes. In 2021, he praised Ark Expense Management’s Wood just just before her flagship fund plummeted, and he also famously tweeted to invest in AMC Leisure Holdings Inc. just prior to a 30% plunge.
“‘Jim’s mission has generally been to encourage long-time period investing and a well balanced portfolio that contains index money and personal shares,’ a CNBC spokesperson wrote in an e mail to Bloomberg Information. ‘He regards Mad Cash as his classroom and thinks educating those who want to pick individual shares as a result of perception and encounter is the very best way to assistance them acquire handle of their funds.’
“The Inverse Cramer ETF would be actively managed, meaning money specialists at the rear of the scenes would check Cramer’s inventory picks and general market recommendations by means of Twitter or his television appearances, in accordance to the submitting.”
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