- The day we’ve all feared has arrived – for perhaps the first time, Jim Cramer was right.
- The Inverse Cramer ETF, tracking the opposite of the CNBC host’s picks, is liquidating its assets after just 10 months.
- The fund was down 15% in under a year of trading.
- Meanwhile, usual programming has returned as Cramer called out an impending Bitcoin drop, only for the coin to rise 7%.
Crypto has had a lot of wins recently. The spot Bitcoin ETF approved for trading. Solana coming back from a near-death experience. Google allowing digital currency ads on its platform. But the saying “you can’t win them all” is unfortunately true, as perhaps the saddest day in modern memory has come to pass. By now, everyone knows Jim Cramer – the notorious, swashbuckling financial analyst with a penchant for getting things wrong. So why is today so bad?
Well, it’s the day that we have to say, for once, Jim Cramer was right.
Inverse Cramer Saw Little Volume and Returns
The Inverse Cramer ETF tracked Jim Cramer’s buy and sell tips and did the exact opposite. In theory, this should’ve resulted in a highly successful fund. Unfortunately, due to a lack of interest, poor execution and, somehow, Cramer occasionally making correct predictions, the Inverse Cramer fund was down 15% since its inception in 2023. The fund managers, Tuttle Capital Management, only managed to see USD $2.4M (AUD $3.63M) in market cap after about ten months of trading.
However, it didn’t take long for Cramer to brush aside his historic victory and follow it up with a terrible call – this time in relation to Bitcoin. In recent times, the Mad Monday host has supposedly had a change of heart and become pro Bitcoin, posting various tweets in support of its community and the sway of its spot ETF approval.
But, for some reason, he seems to have flip-flopped yet again. Without providing any rationale whatsoever, Cramer tweeted that BTC holders had a great chance to sell at the USD $40K (AUD $60.53K) mark, as the “Number Go Up club trie[d] to keep it at 40,000”.
Naturally, Bitcoin burst past $43K (AUD $65K) within three days of Jim’s tweet.
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