It’s not necessarily easy to navigate the financial world, as CNBC host Jim Cramer proves. He is notorious for his bad predictions, always seeming to say the wrong thing. However, he is not always wrong. An anti-Cramer stock market fund is shutting down after being active for nearly two years.
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Anti-Cramer stock market fund stops
This emerges from a press release from the investment fund that manages the ETF, Tuttle Capital Management. On January 25, the board of directors of this company decided to close the fund and liquidate its assets. The last trading day of the Inverse Cramer Tracker ETF (stock symbol: SJIM) is February 13th, after which investors will automatically receive their money back. Of course, you can also simply buy and sell shares of the stock exchange fund beforehand.
The ETF does exactly the opposite of what Cramer says. Many investors in the fund have suffered losses since its launch in March 2022. In the two years the fund has been active, it has fallen by up to 15%. In total, only $2.4 million in capital was raised.
When the moderator tells traders to buy something, the fund does the opposite. If he says that you have to sell or go short, then SJIM buys these exchange products.
“We created the portfolio to highlight how dangerous stock-picking TV hosts are, particularly Jim Cramer. We believe this has been successful, but investors are more interested in volatile stock market products and have never developed interest in a long-short portfolio. “With the success of the (T-REX exchange products), we simply no longer have the time to manage the (Inverse Cramer ETF) portfolio,” Tuttle Capital Management said.
Crypto analyst Jim Cramer isn’t always wrong
Cramer is well known as a CNBC host, but that doesn’t always make him a good trader. For example, several traders managed to make a smart profit by doing the opposite of Cramer, just like the Inverse Cramer ETF. At the beginning of 2022, Cramer expected the Bitcoin price to have bottomed out, while this was the beginning of the bear market.
But there are also signs that Cramer is not always wrong. He expects the price to fall in early 2024. This time there are actually signs that this is actually going to happen.
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