• Elon Musk mocked Jim Cramer’s market advice on Twitter.
• Cramer recently gave advice to investors to sell their crypto during a price rally.
• A new ETF called the Inverse Cramer Tracker ETF was designed to perform in the opposite direction of his stock picks.
Elon Musk Mocks Jim Cramer’s Market Advice
Twitter’s boss and one of the world’s wealthiest people, Elon Musk, took an ironic jab at Jim Cramer’s recent market predictions. The host of CNBC’s financial TV show „Mad Money“ has been giving out guidance to investors numerous times, but often those advices turn wrong. A few days ago, he suggested for people to take advantage of the crypto price rally and sell their stash. However, the market continued its uptrend with Bitcoin reaching a 9-month high today at $27,000.
The ‚Inverse Cramer‘ ETF
Billy Markus (better known as Shibetoshi Nakamoto) commented that Jim Cramer is „good at his job“, sparking a debate among many people including Elon Musk who ironically supported the idea of an „Inverse Cramer“ strategy which enables investors to bet against his stock picks. This strategy led to the development of an ETF called the Inverse Cramer Tracker ETF (ticker SJIM). According to Matthew Tuttle – CEO of Tuttle Capital Management – this fund will go short on any stock that is specifically mentioned by Cramer and buy it back when he changes his opinion about it.
Musk Expresses His Opinion About It
Elon Musk expressed his opinion about this strategy through a sarcastic tweet saying „the Force is strong with inverse Cramer“. This tweet shows how much influence Jim Cramer has on Wall Street investors despite not always being right with his predictions.
Why It Works
The success behind this strategy lies in timing as well as getting rid of any bias that may affect decision making when investing in stocks or cryptocurrencies. By going against what Jim suggests – which usually looks like obvious decisions – you can increase your chances of success since it might be more likely that things will turn differently than expected due to human nature and herd mentality.
This tweet from Elon Musk serves as proof that there are some strategies out there that can help you beat Wall Street even if they don’t always work perfectly every time or guarantee success all the time, like going against what Jim suggests from time to time may help you generate gains in your investments over longer periods of time when done correctly