• Elon Musk and Billy Markus (Shibetoshi Nakamoto) discussed Jim Cramer’s market advice in a debate on Twitter.
• Cramer had suggested that investors use the latest crypto price rally as an opportunity to sell their stash, however the markets have kept going up.
• Elon Musk supported the “Inverse Cramer” strategy which bets against the stock picks of „Mad Money’s“ host.
Elon Musk Mocks Jim Cramer’s Market Advice
Twitter’s owner and one of the wealthiest people on the planet – Elon Musk – dropped a sarcastic tweet regarding Jim Cramer’s recent market predictions. The host of CNBC’s financial TV show – „Mad Money“ – has given guidance to investors numerous times, but often that advice has turned wrong. A few days ago, he argued that people should use the recent crypto price rally as an opportunity to sell their stash. However, the market kept its uptrend, with bitcoin tapping a new 9-month high at $27,000 earlier today.
Musk Supports Inverse Cramer Strategy
In a recent Twitter post, the Co-Creator of the memecoin Dogecoin – Billy Markus (better known as Shibetoshi Nakamoto) – said Cramer is „good at his job.“ His comment started a debate, and one of the people to join was Elon Musk. The South African entrepreneur ironically supported the „Inverse Cramer“ strategy – a plan that helps investors bet against the stock picks of „Mad Money’s“ host.
What is Inverse Cramer Tracker ETF?
The Inverse Cramer Tracker ETF (ticker SJIM) was designed to perform in the opposite direction of Jim Cramer’s advice. Matthew Tuttle – CEO of Tuttle Capital Management – explained in detail: „If he specifically says either buy, buy, buy a stock, then we’re gonna go short that stock at the next practical moment. If he says sell or sell now or something like that…then we’ll go long.“ This strategy seems to be working for those who have adopted it so far; since its launch in June 2020 its returns are up by 33%.
It remains to be seen if this strategy will continue to be successful or not in future investments; only time will tell if betting against Jim Crame’s advice will turn out profitable for traders or not!