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This is how much the ‘Inverse Cramer’ is up in 2024

This is how much the ‘Inverse Cramer’ is up in 2024

The energetic host of ‘Mad Money’ and former hedge fund manager, Jim Cramer, has become something of a meme in recent years, particularly among the investors congregating on Elon Musk’s social media platform, X.

The fact is hardly surprising given both Cramer’s prominent role and his willingness to opine on a wide variety of assets – as many critics and supporters have pointed out over the years, one is bound to make numerous mistakes if they express as many opinions as the host does.

Cramer’s reputation also led to the idea of creating an ‘Inverse Cramer’ strategy and trading bot – an approach that would do the opposite of anything the host recommends. 

Quiver Quantitative – a platform known for sharing strange trades made by U.S. politicians – indeed created one, but has it actually been as successful as many would expect?

‘Inverse Cramer’ performance in 2024

Perhaps unsurprisingly given that some of Jim Cramer’s 2024 recommendations included Boeing (NYSE: BA) – though the host’s reasoning doesn’t entirely lack merit – the ‘Inverse Cramer’ is in the green in 2024.

In fact, since January 1, the strategy generated returns amounting to 5.16% which, while positive, are admittedly below both stock market benchmark indices – the S&P 500 and the Dow Jones Industrial Average (DJIA) – which are 10.79% and 5.55% in the green year-to-date (YTD) respectively.

Inverse Cramer, S&P 500, and DJIA YTD charts. Source: Quiver Quant & Google

Though it boasts a compound annual growth rate (CAGR) of 21.73% and is – since the backlog testing start date in 2021 – up in total 89.10% – the strategy has actually been underperforming the S&P 500 in the longer time frames as well.

As it stands, the ‘Inverse Cramer’ has, for example, returned 12.02% in the last 52 weeks, while the same period saw the S&P 500 rise 27.39%.

Inverse Cramer all-time chart. Source: Quiver Quant

Why isn’t the “Inverse Cramer” up more?

Given Jim Cramer’s online reputation, the relatively disappointing returns of the ‘Inverse Cramer’ might come as a surprise. 

Indeed, the host of ‘Mad Money’ is known for blunders such as his 2017 recommendation of General Electric (NYSE: GE) – a company that only recently crossed above its stock price from the year – his 2020 endorsement of electric truck startup Nikola (NASDAQ: NKLA), and repeated incorrect forecasts for Bitcoin (BTC).

However, for all the mistakes, as many analysts and experts have pointed out, Jim Cramer tends to be right with his stock market picks – no matter how phenomenal his blunders are – most of the time. 

Given the recent events, perhaps there may be no more vivid proof of it than the fact that the host’s dog is named Everest Nvidia Cramer after the semiconductor giant and the best-performing Nasdaq 100 stock of Q1, 2024.

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