Investors pull US$352 million from Cathie Wood's ARK Innovation ETF. The withdrawals come as ARKK languishes at the lowest in about 18 months
Excerpt -
The loyalty of Cathie Wood’s legion of fans may be finally waning, as the new year bloodbath in speculative technology stocks hands the star money manager a miserable start to 2022. Investors pulled US$352 million from Wood’s flagship ARK Innovation ETF (ticker ARKK) on Wednesday, according to the latest data, the biggest outflow since March. The withdrawals come as ARKK languishes at the lowest in about 18 months, having dropped more than 15 per cent (now closer to 20% after Today) since the start of the year. - https://financialpost.com/investing/inve...vation-etf
These Funds are improperly positioned for 2022 / 23.
• It may be hard to admit – to yourself or to others – that you don’t know what the macro
future holds, but in areas entailing great uncertainty, agnosticism is probably wiser
than self-delusion. - Howard Marks
• It’s frightening to think that you might not know something, but more frightening to
think that, by and large, the world is run by people who have faith that they know
exactly what’s going on. – Amos Tversky
I've met many a Cathie within the investment sphere, It never ever ends well for them.
Excerpt -
The loyalty of Cathie Wood’s legion of fans may be finally waning, as the new year bloodbath in speculative technology stocks hands the star money manager a miserable start to 2022. Investors pulled US$352 million from Wood’s flagship ARK Innovation ETF (ticker ARKK) on Wednesday, according to the latest data, the biggest outflow since March. The withdrawals come as ARKK languishes at the lowest in about 18 months, having dropped more than 15 per cent (now closer to 20% after Today) since the start of the year. - https://financialpost.com/investing/inve...vation-etf
These Funds are improperly positioned for 2022 / 23.
• It may be hard to admit – to yourself or to others – that you don’t know what the macro
future holds, but in areas entailing great uncertainty, agnosticism is probably wiser
than self-delusion. - Howard Marks
• It’s frightening to think that you might not know something, but more frightening to
think that, by and large, the world is run by people who have faith that they know
exactly what’s going on. – Amos Tversky
I've met many a Cathie within the investment sphere, It never ever ends well for them.