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Cathie Wood's $14.3 Billion Implosion
"...the ARK family wiped out an estimated $14.3 billion in shareholder value over the 10-year period"
https://substackcdn.com/image/fetch/...8ecd_63x61.png
QUOTH THE RAVEN
FEB 20, 2024
For as long as this blog has been around, I’ve been critical of money manager Cathie Wood, not only suggesting her outsized gains and popularity were simply a fluke based on a one-time gamma squeeze in Tesla (also called the “Ross Gerber effect” or the “Elon Musk pay plan effect”), but also reminding my readers that her stock picking acumen seems, for lack of a better word, to be horrific. So, naturally, she’s a great fit for a daily interview on financial media.
As best as I could tell over the last 5 years, Cathie Wood has stuffed her “innovation” ETF like a Christmas turkey full of cash burning, extremely overvalued companies. Another one of her gems, Invitae, filed for bankruptcy earlier this month.
QTR’s Fringe Finance is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
Cathie Wood's $14.3 Billion Implosion
"...the ARK family wiped out an estimated $14.3 billion in shareholder value over the 10-year period"
https://substackcdn.com/image/fetch/...8ecd_63x61.png
QUOTH THE RAVEN
FEB 20, 2024
For as long as this blog has been around, I’ve been critical of money manager Cathie Wood, not only suggesting her outsized gains and popularity were simply a fluke based on a one-time gamma squeeze in Tesla (also called the “Ross Gerber effect” or the “Elon Musk pay plan effect”), but also reminding my readers that her stock picking acumen seems, for lack of a better word, to be horrific. So, naturally, she’s a great fit for a daily interview on financial media.
As best as I could tell over the last 5 years, Cathie Wood has stuffed her “innovation” ETF like a Christmas turkey full of cash burning, extremely overvalued companies. Another one of her gems, Invitae, filed for bankruptcy earlier this month.
QTR’s Fringe Finance is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.