‘Mad Money': New Investment Fund Aims to Counter Jim Cramer’s Stock Picks
Jim Cramer, whose prognostications on CNBC’s “Mad Money” have long earned him both adoration and derision.Matthew Tuttle of Connecticut-based Tuttle Capital Management has filed a prospectus with the Securities and Exchange Commission to sell a security called the “Inverse Cramer ETF.”An ETF is an exchange traded fund, or a group of stocks developed around a theme that is similar to a mutual fund, but trades throughout the day like a stock rather than just once a day. ETFs have grown to an astonishing $5.75 trillion in assets since the first one was introduced in 2002, according to investment manager Blackrock.“The Inverse Cramer ETF seeks to provide investments results that are approximately the opposite of, before fees and expenses, the results of the investments recommended by television personality Jim Cramer,” the prospectus states.