The interview you're about to listen to is with: Matthew Tuttle of Tuttle Capital Management You might not recognize the name, but you definitely recognize the product. I'm talking about the man, the myth, the legend that made in ETF which is inverse Kramer That's right, We got an interview with the guy who said hey, people want to bet against Kramer so much we might as well make a vehicle for them to do it. Among talking about that and how you make ETFs in general and his opinions on the markets, we get into other exciting things that relate to just having an entire career within. Wall Street I Truly think you're going to enjoy it if you want more of this type of content.

don't forget to hit the like button and subscribe to the channel. Enjoy! Foreign. What is going on everyone I Have a very exciting interview for you today. I'm sitting here with Mr Matthew Tuttle of Tuttle Capital Management So mainly we're going to be talking with the guy who really brought us the inverse Jim Cramer ETF but obviously there's a couple other things we're going to be diving into.

I'm sure you're going to enjoy it. Thank you so much for joining me today! Mr Tuttle How are you doing I'm good. how are you I'm having a great day. So much exciting things going on in the market between stocks I mean I'm sure you've been paying attention to retails explosion with Zero DTE Training crypto Futures There's always just something going on.

Recently it's been the banking crisis. Now it's inflation. Now it's Banking And it's just everything. I mean just craziness across the board.

and I'm sure for you obviously being in this industry like I'm sure it's exciting times for you as well. Oh yeah no. I I mean I Love this stuff I I Wish the market would actually go somewhere, but at least beneath the surface there's fun things to do. Yeah, I mean it seems like and I know obviously we're only at the end of April as we're filming this now, but it feels like it's just going to be a year of chop and I'm sure in certain sub sectors there's going to be opportunity here and there.

but honestly, maybe that's a perfect segue because uh, it seems like and I don't know if it's quite the meme or any of that, but folks I want to talk about the ETF and I think it's safe to call you an ETF experts. So obviously we're going to be getting into the inverse: Jim Cramer But before we talk about those exact details, could you tell us a little bit about how you even become an ETF expert? How you launch ETFs how you even got to be running Tuttle Capital Management Like, what's even that pathway for people who might be interested? Yeah, so I mean I I Got hooked on the markets back in eighth grade. There's probably you know, 1982 give or take which you can kind of guess I'm I'm old, um, and you know and really have been creating my own portfolio ever since. you know got into you know brokerage firms and you know in the 90s insurance companies and it really was was horrified by what path for advice and in what was being done to retail investors you know I was uh you know I was I was a broker and an advisor during the internet bubble and you know and seeing what was happening to investors just horrified me.

Uh so right after that we started our own wealth management firm and started working with individuals. Um then we had other financial advisors come out and say you know hey we love what you're doing can you manage money for our clients So started doing that and then also became horrified by you know the say lack of knowledge out there in the financial advisory community. So in 2015 we started launching ETFs You know first we were kind of trying to help out financial advisors but then we really morphed to you know when I saw kind of what was going on in Finn Twit you know especially after Covid? you know, kind of a new retail Revolution a lot like what I saw you know in the internet bubble I Really said you know I love what these guys are doing I want to help these guys. So we started launching a lot more products designed to really help retail.

Is it difficult to launch an ETF Is it like many hours and a lot of payments to lawyers in this like to get that all set up? Is it relatively easy? Like I? Don't know if it's common knowledge of how you even launch an ETF. So I I mean if you've never done it before? Yeah, anything's difficult. Once you've done a million, it's not. You know.

Typically, for us, it's you know, 15 to 20 grand up front to a lawyer to draft a prospectus. Uh, prospectus gets filed with the SEC The SEC has 75 days in most cases. Uh, in my case, it's typically longer because we do some different stuff. Uh, during that period they come back with questions, The lawyers answer the questions, then you know after that you launch and then it's just.

you know. The day-to-day running of the ETF which depending on the type of ETF might be hard or might not be. So it's something like Sgm is very hard because we've got to be watching. you know, Jim Cramer from nine to ten every morning, from six to seven every night, and then monitoring his Twitter account for any tweets.

So with you talking about Eschim and for the listeners who maybe haven't put it together, that is the ticker symbol for the inverse Jim Cramer ETF Sjim, which I believe is one of your more recent vehicles that you've launched to the market. So how is that done? So you talk to your lawyers, you got to file with the SEC I believe it went live on what? March 1st of 2023. Please correct me if I'm wrong. Okay, so it went live.

it's recent. This is a new thing on the market. so are you. That seems difficult because he talks a lot I mean I talk a lot I think we all talk a lot but that guy talks a lot a lot.

So are you part parsing it of just his opinions Or are you waiting for him to do filings and like perfectly inverse The things he's actually trading or is it literally just like his thoughts on anything and you're like, oh, we're actually going to inverse in the opposite. So I mean what we're doing. So you know he's on every morning from nine to ten and then he's got mad money from six to seven. So and he tweets so we're watching all of that.

What I want is I want definitive. You know, bye bye bye. You know, hey, you know if you don't buy Amazon here, invite me to your funeral. Boom.

All right I I want stuff like that and I want definitive. So if we can get definitive and we got three people, yeah, I'm one of the three who's watching and you know and sometimes it's it's something you know. He comes out and says you know, hey, if you don't buy Amazon you're invite you to your funeral. Okay, that's a bye bye bye I mean that? That's pretty obvious.

You know, other times it's you know, not so much. So you know this morning and I know we're taping this but you know this morning you know Tesla he wasn't giving an opinion on so you know we made a judgment call on what we're doing with our Tessa sure. um then what we're looking at, he makes so many calls every day. We want the good stuff.

so I want to be short whatever is really high and you know if we're going to enter it along I wanted something. That's you know, coming off of some sort of a bottom because you know what we really want to do here is we want to be shorting or doing the opposite of the consensus. And the consensus is buying stuff as it's going up and selling stuff that's going down. We want to do the opposite of that so you know there's watching what he says, coming up with those definitive picks, and then deciding whether that definitive pick fits in the portfolio or not.

Good old mean reversion. How did this come about? Did you particularly have an issue with Jim Cramer bone to pick Or is it more of just you saw it? It is a Twitter Reddit social media culture itself to call out inverse Kramer There's multiple accounts that like it. It is a thing now in the world of Finance to say whatever Kramer's doing the opposite will work 100 of the time is that where it came from or do like? I mean I'm looking at your website and folks, if you're listening to this right now watching this, check out the website. I mean Matt and your team here I mean you guys have pulled out all the major callouts that mainstream media has gotten wrong which I find absolutely hilarious.

So like are you just kind of a contrarian to Classic Finance media suggestions and advice yourself like where'd this all come from Yeah, so they're really two things I mean again I've been in markets for a long time and one of the things I notice is the consensus which we said is is typically wrong. You know people get all bowled up when the Market's going up around top so they get all beared up. you know, around bottoms and you know I've always looked for you know, how do you monetize that and you know? and I've played around with a lot of different ideas. you know American Association of Independent investors and you know, put call ratios, all that stuff and and nothing's ever been compelling and really I mean yeah.

I've got a friend who was in the industry and you know likes to tell me when he's doing stuff and yeah he would text me hey I'm going into this I'm doing this and he was always wrong. That idea started to crystallize in my head And we've all got a friend like that. Yeah, yeah, the idea started to crystallize in my head of you know, wait a second, this might be the way to do it. And then I pivoted to Kramer because Kramer's the consensus on steroids.

And yeah, so that's what really got me. You know here is the way to monetize the consensus being wrong and then you know in in the other aspect of it and you know, one of my passions in wanting to help retail investors is it pisses me off when you know they bring him on knowing his track record. but he always. they always bring him on with deference.

There's no accountability there's you know. hey, we're gonna bring Jim what do you think about the market? There's no, you know. hey Jim We brought you on yesterday to ask you what you thought and it was totally wrong. Are you gonna get it right? today? It's You know we're gonna bring on cream and he's gonna tell you what he thinks and it's like you know there's got to be some accountability there and you know and and you see some creeping in now and and I've gotten some credit for that like when he cried about the medical.

Yeah, yeah, and you know and he did accountability for Silicon Valley I Don't know that he would have done that if we didn't launch these funds. and if I could have a small part to play in in some accountability, my job is done. Yeah, that's fair and obviously we're completely throwing out just conjecture here. But in the time that I've really paid attention to the market, it does see like he's comically wrong.

Is that because I missed? was there like a phase one of Jim Cramer where he was as sharp as he could be? like, how did he even get to this level Because that's the question I Get from my audience a lot is like if this inverse Cramer is so accurate. Why does he have all these accolades? Why is he always featured on TV Why does he have these deals? Why is he worth so much? Like are we just seeing maybe the end of her career and before this, he was far far better. or what's going on? No. So here.

So here involved in markets I'm involved in markets. There's at any point in time a group of stocks that I'm pretty familiar with. If you said Matt what do you think about XYZ I'd give you a pretty good educated opinion I don't know every stuff. so if you started hammering me hey, Matt What about this? What about this? What about this? You're gonna start getting the stocks that I know nothing about.

So what am I going to do? I'm gonna pull up a chart real quick. Oh, that's going up all right I'm bullish. That's going down all right I'm bearish. that's what Jim is doing.

He swings at every pitch. Now that's not a criticism he's set up. He's got to swing at every pitch. You know it can't be people calling up hitting him on.

Mad Money sorry I don't know that stuff. Not familiar. No sorry, not pass and no help pass every once in a while. But I mean he, he can't go to that well too often.

so you know you're getting to a lot of areas that he knows nothing about. Yeah, he's also I mean he's got an innate ability to just gets stuff wrong. I mean I Don't know where that comes from, but you know why he's on. You know, understand what? CNBC And any news media is their entertainment and they make money from advertising.

Jim Cramer You can say whatever you want to say about his stock picking ability. he's an Entertainer And you know, obviously the advertisers love them. You know, for good reason because he's always bye bye bye and you know. So that's why he's on.

and that's why he's on with deaf friends. You know, because of that, not because he's some great stock picker. When I was maybe in high school or something my parents like. you should learn a little bit about the markets.

Watch this. Mad Money show I Swear the first show I ever saw of him I was picturing this guy in the suit like it was going to be like just whatever Financial forecasting or whatever. he came out dressed up as a biker with a Harley Davidson because he was talking about hog that day and I was like wait this is what Financial media is like and that's exactly what it was. It was pure entertainment, not necessarily the quality that people are looking in the world of markets.

So it's interesting that that has been almost like a commonly held belief about him. but hey, it's working because he still has that new space like it's working for I guess like his specific goals but maybe not who retail or even professionals should necessarily be listening to I have to ask: has he had any interactions with you I mean if you're the guy who launches a inverse Jim Cramer ETF like do you guys talk at all? Does he dislike you? Is he sent you some like upset DMS like what's going on there so when we file he have a lot to say on Twitter he had a lot to say on the show I think someone tapped him on the shoulder and said hey no no more because the day we launched now he he takes vacations but typically he'll he'll be gone Monday to Friday we launched on a Thursday he took a vacation starting that Thursday that we launched and it was a couple of days. That was weird. could have been a coincidence I don't know, he has not said a word.

um I've heard some things through the grapevine that lead me to believe that somebody tapped him on the shoulder and said don't don't go there, don't say anything so I'm I'm constantly poking on Twitter Um, you know I hope one day he'll respond and that response won't be a block me. but uh, you know we'll we'll see I'm I'm not holding my breath that uh, we're gonna have a dialogue I mean if it happens I'm sure it'll just lead to some talk about entertainment that would definitely lead to some entertainment. I Can only imagine if somehow I don't want to call it a debate. but if you two guys got into a call and interview, uh I'm sure it would be exciting.

It would be exciting for everyone to kind of listen in on. I I I I would love that. Um, and you know and and we'll see I hope Hey by the off chance Mr Kramer that you're watching this we can facilitate I can make it happen. We'll ask the same questions to the both of you and we'll see how it goes.

but we'll we'll shoot our shot there. so transitioning just a little bit. Uh, obviously this is awesome making ETFs I appreciate you sharing your knowledge here. and I'm sure just from the comedic value, everyone's gonna like what's going on with the inverse Jim Cramer and I'm excited to see how it plays out this year.

I'll be. Obviously it's only been a small amount of time I mean roughly a month we'll call it, so it'll be cool to see where it actually truly ends. But speaking of from now till the end of the year, obviously you do have quite the knowledge of the market. Where do you see things going for the average retail person? Like are there certain sectors that you feel a little bit more confident? For example, I Hear a lot more talk of silver gold bonds? Almost like those classic things being potentially where people should be this year? Do you agree with that? Do you disagree with it? Are there sub sectors that you're excited about? Would love to get your thoughts? Yeah.

So right now today I mean and I wish you know and I'm on Twitter all the time. and I See, you've got the massive bowls and the massive bears and they're fighting it out. I Think both of that is is stupid at this point I Think we're We're in a trading range. We're going pretty much in a straight line until either the Fed or the market blinks.

Once that happens, then we get a big move. But right now I don't think the Market's going anywhere. So yeah, I look at the individual sectors. Um, my only real high conviction long is precious metals and miners.

Uh, we rode those those up at the beginning of the year. Right now I'm slightly short. that area because I think it topped out, but you know I'm looking for it to sell off a little, come into some support, and then we go along again. You know again, only only slightly slightly short.

Um, but you know that that's an area I'd be looking at because if the FED does pivot the Market's going to know before the FED tells you and you're going to start to see it in the precious metals and you'll see the Myers start to ramp. Um, you know we've been short. Some of the office reads and the regional Banks and using cops to, you know, reload shorts on that. Besides that, there's not a whole heck of a lot going on.

I mean you've got, you know Mega Cap Tech You know, Rallying you've got Consumer Staples rallying. You know people looking at that as bullish I look at that as bearish, you know I Don't think that you know I think that's fully invested portfolio managers parking money I don't think that's conviction buying Uh, so I'd be very careful chasing those names I'd also be very careful shorting those names. Um yeah, but I think from a practical standard you know we look to be more active on the short side as the S P gets up around 4 200. We get look to get more active on the long side as it moves down towards 3 800..

So right now as we're speaking it's close to 4 200. Yeah I don't think I have any long positions I'm not mad I'm not. You know I don't have large short positions by any standard, but you know we're we're we're only short at the moment moment. I Have to admit, your mindset interests me because it seems like you're naturally more of a mean reverting Trader Like all right, it's gone too much.

Let's take it off where it's Fallen too much like let's play the bounce back and then the thing that you have a Cramer you're the one that you made the inverse ETF for he seems to be naturally Trend falling like whatever the hot good thing is like, we're It's funny to me of how your mindset inherently of how you view the market is almost the opposite of Kramer which hey, it makes sense why you made that inverse ETF uh but I appreciate the insights on just Commodities and all that one sector that seems to be popular right now is AI Do you have any thoughts on that? I I mean I do Yeah, it's obvious AI is Future Okay um I Think you need to be careful. You know again. I As I said, I was around in the internet bubble and you had you know every company in the world putting.com at the end of their name and you know and now you know you listen to every earnings report like I I don't but someone was telling me that Elon Musk said AI like you know 5 000 times in the Tesla earning report. So I think you got to be very careful with that.

Uh, you know they're going to be winners. They're going to be losers. but you know that is an area that yeah you want to pay a lot of attention to because you know that's you know that's the new hot thing is as far as technology I mean you know what this chat GPT can do I mean it's it. It's just mind-boggling So I mean that can't not be the future.

Do you think specifically it will have an impact on trading itself I Hear a lot of people AI System Algorithmic trading Systematic trading. That type of thing. Do you think that will tune really get traction? or do you think it's a little too complicated like as in trading is a little too complicated to do that as of now I my thought is as of now I don't I don't think I think the only way I really see something make that working is like the stuff that like Renaissance does where you know it's not. Hey we're going along this stock it's You know we're along this.

we're short this you know, net net. we have no exposure but we're playing little efficiencies and making 5 000 trades. Stuff like that. Could AI figure it out? Maybe.

But is AI going to be able you know to figure out? Hey, is NVIDIA gonna go up for me here? you know I'm I'm very dubious of that. You know I've seen some stuff that you know you look at something like that right? that's interesting and then you kind of sift through and yeah, and I don't know I I just I Think it's too complicated, Things change too fast, you know I think you need an experienced Trader who knows you know what he's looking at and can pivot on a dime when something is different? Well speaking of Traders and really just because this will be the audience of retail since you have had a career in Wall Street To the point that like you've survived it and that seems to be one of the major things of like it is a marathon to survive this game of trading and investing. If you could give yourself tips when you first started or just even retail nowaday because obviously the Market's always changing. what are the major tips you would get? I've read a lot of your blog posts and a lot of it just seems to be what you've referred to as like basic risk management if we want to start there.

but if there's any other things where you're like man, if just people knew this or if you knew it earlier in your career, uh, could you shed some of that knowledge on us? Yeah, I I mean I think Number One is Fomo I mean that is the Mo you know and that's fear of missing out I think that is the most dangerous emotion you could possibly have and I think I see that Crush people more than anything. Um, yeah. and then number Two is just you know the and it's an overarching thing. risk management which is you know your position, sizing your stops.

you know, do you do stuff ahead of earnings and you know and and really of all of that I think it's position sizing is the most I mean you see, you know some of these guys on Twitter oh you know I made you know 80 percent this month. It's like, all right, that's great, but the position sizing You've got to be a dude and make eighty percent I mean you know the risk you're taking there is horrific and you know if if you know what you're doing, you're cognizant of that. it's a small part of the portfolio Okay but I just when I see stuff like that I worry about like retail guys saying hey, I'm gonna put my whole portfolio into zero DTE options and say oh, you know, don't you know, don't do that, you know So I I think though I think those are really the key things and then just you know, get educating. you know Wall Street is not a kind place to people who are not educated.

You can do it yourself. You can delegate be gotta be educated because we're You know you delegate to somebody who doesn't know what they're doing. and if you're not educated, you don't know that until it's too late. I think that's an amazing input.

Uh one thing I always like asking people especially that have knowledge of the market and more so of a career is the extremes of something and what I really mean by that is throughout your career could you just share some fun stories of an extremely like good trade where you crush and everything went right and then maybe a little bit on the other side where you're like maybe you had super good convictions on something and unfortunately it went bust because I I think showing that is like everyone loves to focus on how good and amazing and trading is awesome and it's easy and you could do it too. and Everyone likes to almost sweep under the rug the negative parts. So I would love to hear a great positive and then maybe a not so positive story from you so you know it's hard. it's hard to kind of come up with just from the standpoint of again I use risk management I don't take large position sizes but I'd say you know one that sticks out on the positive side because it just happened I was short signature back so congratulations yeah I mean that was a fun one and yeah and I've been you know I'm short three regional banks at the moment and you know been shorting Regional banks for you know, a good chunk of the year.

but you know Signature was was a great you know, great play and you know it. The pattern worked out the way I wanted and you know went short and then one day or I think it was over the weekend Regulators Closing down Signature Beautiful. What was it like to get that tweet? Did you get like a tweet alert like can you tell us about this How did you find out when you were you like oh wow, when did you realize it was going to zero and you were making Max profit? um you know I I don't know whether it was a tweet or you know whether I I mean I get so much information coming in. but I you know I think it was over the weekend.

just news comes out Regulators are shutting down Signature Ballet Bag. so I run up. look how much do I have? Oh beautiful, all right. I'm gonna make this and then it's just and then it's You know, waiting.

You know because you know my broker didn't mark it down to zero and it's halted so you know you're staring at it and staring at it and I think it took like two weeks and then that was just torture. and then one morning you wake up and it's trading at like 20 cents or something. It's like do I wanna yeah Well I and I just got out at like you know 20 cents I mean I'm not gonna be I'm not gonna be greedy and try to get it to zero I just want out I I want to see the profit in my account I I Think you know from a a lost standpoint I think the most important loss I ever had. So you know I think one of the most important things that you can have happen to you as a Trader is do stuff that's really stupid and lose money.

So then you realize crap I Gotta this is harder than I thought. So you know I was doing a lot of trading in the late 80s on takeover speculation and you know back then if the Wall Street Journal put in article saying you know there was takeover speculation on XYZ they were getting taken over and within a couple days they would pop. So we were making money hand over fist. Wall Street Journal writes an article take over speculation we buy options.

Three days later our options double or triple. We make money. This is great. Uh, fast forward to you know 90 91.

um all of a sudden the Takeover boom would stop. So there was um so there was uh it was Neutrogena So Neutrogena there was an article in the Wall Street Journal take over speculation on Neutrogena and bought Neutrogena calls popped great. You know that was the beginning of the 90s and you know I'm I'm going to be rich. This is wonderful.

We're going to keep doing this. and then there was another one on Scott's tissues and you know bought options again and they got taken under. So whatever the price was the Takeover was less. It's like wait, how can that happen So you know I lost everything and yeah, and then there was a string of them.

So it wasn't just one trade but there was a string of them where you know I lost money on every single one. and then all of a sudden I'm like wait, this is harder than I thought I need to I need to be educated about this So I ended up losing a pretty good amount of money especially for someone who was like 22 years years old. But it was the best money I ever lost. Best lesson I ever had Man I think that's very insightful.

Uh to wrap things up for anyone who maybe has questions or just wants to track what's going on. uh could you shout out your website your Social Media stuff and for everyone listening I will put this all in the description of the video so you can just find it from there. Yeah! so Tunnel Cap is.com is our main website. We do a daily newsletter.

We also send out the Kramer trades every day so you can sign up for them on that. Um, at Tuttle Capital is my Twitter site so you know I'm I'm trading and so on. our newsletter all kind of come out. you know? Hey I think this is going on in the market? Here's our watch list when I can I give updates on Twitter during the day I don't always have time to do that but you know and and I also troll Jim Cramer So sometimes people have fun watching that I mean I have fun doing it.

Uh, so you know that's that. That's my uh my Twitter handle. That's awesome! This interview has been absolutely awesome I Truly appreciate your time folks! I'll put all this information in the description of this video I Appreciate your time and I'm sure we'll be talking again in the new future. but best of luck in the markets and have a good one All right! YouTube Thanks for having me.

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