Submitted by Hardscrabble Farmer
Can anyone explain why they have given this obviously insane woman so much coverage in the past couple of years when all she seems to do is make money vaporize?
As of February 2021, the company had $50 billion in assets under management.[1] By May 2022, assets had dropped to $15.9 billion, after a period of poor performance…
Can you say understatement?
I don’t do stocks, but if I did, I would stay as far away from crazy eyes as I could.
YMMV
Morning Wood: ARKK Founder Admits She Got Inflation Wrong, Says She’ll Continue Her Strategy Anyway
Cathie Wood finally offered up somewhat of a mea culpa – at least for her previous calls on inflation, though not quite so much for the underperformance of her flagship fund and her previous call that the market had bottomed back in January – on Tuesday of this week.
After being bludgeoned in the face with data that was perpetually proving her prognostications incorrect, Wood told CNBC on Tuesday: “We were wrong on one thing, and that was inflation being as sustained as it has been.”
But what would that mea culpa be without immediately falling back on her greatest hits, including once again predicting deflation?
According to Bloomberg, Wood then added: “Supply chain — I can’t believe it’s taken more than two years, and Russia’s invasion of Ukraine, of course we couldn’t have seen that. So inflation has been a bigger problem. But I think that it has set us up for deflation.”
Wood also did a decent job pointing out the state of both the high end and the low end consumer in the U.S., stating: “The consumer is railing against these price increases,” Wood said. “Many people think, ‘oh, the heavy spenders will keep this thing going.’ Consumer sentiment in the highest-income groups is lower than in the lowest-income groups, and the latter group is being tormented by food and energy prices, which are really a regressive tax increase.”
Wood also continued to defend her strategy of picking “innovation” stocks, despite the fact that her ARKK fund has been decimated so far in 2022, falling about 53%. She said: “The most important thing we need to do is stick to our knitting. The worst thing that could happen is style drift.”
“When people invest in Ark, they know they’re getting truly disruptive transformative innovation. That’s what we offer, and we don’t pretend to offer anything else,” she continued. Because why let the facts change your investing outlook, right?
As Bloomberg dryly noted on Tuesday, “Wood joins Treasury Secretary Janet Yellen in admitting incorrect inflation projections.”
If the two of them didn’t make up 12 hours of a 13 hour day of financial news programming, it almost wouldn’t be an issue, right?
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I only look at yahoo finance to see how all the markets are doing. Almost daily I see an article they post on this thin lipped woman. Why, with her stats, who the heck knows.
It’s the same with that POS Cramer on CNBC, continuing to give out bad financial advice.
Two words:
Clown.
World.
Like Madoff, she did very well for awhile. The public (“weak hands”) is relied upon, deservedly so, to buy high and sell low. The funds are the ones the public chooses to hold their hands. It’s the “story” that motivates investors and you will see stories 30+ pages long that fire the brain cells into pushing the chips into the center having been convinced the story’s happy ending cannot possibly go up in smoke. Few investors believe they cannot hold in the face of a continually falling position. Then when the loss becomes excruciating while believing in a bottom, soon, soon, they sell. Buffet and the rest come in then, tipped off by the regulators that some kind of financial whoop-de-do from the gov’t is about to occur. That’s the Neverending Story.
Not the government, but the Fed.
The government may wage a war in support of the Fed.
“The most important thing we need to do is stick to our knitting.”
Sounds like she should have stayed at home and stuck to her knitting.
Can you imagine how much better the world would be if Hillary Clinton actually had just stayed home and baked cookies? Even Bill might have been satisfied with the occasional hand job.
I doubt B J would have been satisfied with just a hand job and I doubt Hi LIAR y would stoop so low as to do what he really wanted. She probably has not had sex since Web commited Arkancide.
Or since she conceived Webb’s child
he settled for some one who bleached a perfectly good garment.
I understand your confusion HSF. Cathy’s investment strategy is based on throwing mud against the wall and hoping some sticks. She has spread her portfolio wide to capture many loss-making Tech companies with unknown future potential hoping that at least one will be a gem like Amazon. Here’s a lesson:
https://interestingengineering.com/a-very-brief-history-of-amazon-the-everything-store
There are thousands of start-up zombies like Amazon was and a very few will succeed which then makes up for all the other losses. You can do similar by backing horses if you know the form well enough. There are always lots of punters willing to take a risk like this – lottery punters have the same attitude which is alien to me and I suspect to you also.
We say in finance – “there is always the greater fool to sell to” which is why scammers continue to do their thing – the world is full of trickery from the the Fed down as I am sure you are aware. Hope this helps to clear your question.
“mud against the wall”
Mud??? Same color but an organic substance fits better.
amazon ‘zombie’? Gee, wonder who would have a passing interest in what people were READing?
reeeeeeeeeeeeeee
“Specifically, I noted research shows women are considerably higher in mental instability (“Neuroticism”), and this, after all, is basically just a means via which they can express their feelings to each other and also alleviate a sense of guilt and social anxiety about their own “racism,” “white privilege,” or whatever they’ve been told to feel guilty about.
They have other traits which can make them surprisingly more selfish (given that women are higher in altruism and empathy), in the right circumstances, than men. As they take over society, and especially as they take over “caring” professions—such as teaching, medicine, nonprofits and Woke activism—this can have serious, and self-destructive, consequences. Witness Elephant in the Zoom: Meltdowns Have Brought Progressive Advocacy Groups to a Standstill at a Critical Moment in World History, by Ryan Grim, The Intercept, June 13, 2022.
Specifically, I noted research shows women are considerably higher in mental instability (“Neuroticism”), and this, after all, is basically just a means via which they can express their feelings to each other and also alleviate a sense of guilt and social anxiety about their own “racism,” “white privilege,” or whatever they’ve been told to feel guilty about.
They have other traits which can make them surprisingly more selfish (given that women are higher in altruism and empathy), in the right circumstances, than men. As they take over society, and especially as they take over “caring” professions—such as teaching, medicine, nonprofits and Woke activism—this can have serious, and self-destructive, consequences. Witness Elephant in the Zoom: Meltdowns Have Brought Progressive Advocacy Groups to a Standstill at a Critical Moment in World History, by Ryan Grim, The Intercept, June 13, 2022.”
She’s just doing what many women do – make a man’s hard earned money disappear.
I read about her on ZH mainly for the comments. Basically the story is was her fund was making money in the day when a monkey could throw a dart at a list of stock symbols and make money. But her having a vag means she’s a maverick. She got in late with Tesla and has rode it down.
A little coke goes a long way……
That was a little weird !!!, How is Dave P these days ?
Long time no hear !
I don’t know, HSF, but I bet it has something to do with pushing this tranny agenda thing.
She looks like the retarded girl in the 3rd grade yearbook.
She said: “The most important thing we need to do is stick to our knitting. The worst thing that could happen is style drift.”
Word(s). Of a truly chauvinistic misandrist.
“Can anyone explain why they have given this obviously insane woman so much coverage in the past couple of years when all she seems to do is make money vaporize?”
The same reason they give Jim Cramer air time and oxygen, They grease the wheels and bearings of Wall Streets machinery.
Without them and the myriad of others with the sure bets to retirement and easy street, Wall Street would revert to its original purpose, the Dutch took their shit, piss and garbage of no use and hurled it off the Wall.
Oh now I think of what I wrote, it has not changed in 400 years
Maybe her and Jim could share a lamp post.