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说说你对这篇新闻的看法...
“美国版李蓓”折戟AI投资，“一意孤行”的女股神，栽了？
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2023-01-09
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22:45","market":"us","language":"zh","title":"“美国版李蓓”折戟AI投资，“一意孤行”的女股神，栽了？","url":"https://stock-news.laohu8.com/highlight/detail?id=1172142326","media":"华尔街见闻","summary":"抓住牛股，真难！当中国的女性私募基金经理成为行业热点时，美国也有这么一位知名度高、讨论度高的女性基金经理。她就是67岁的凯西·伍德(Cathie Wood)。她有很多外号：“女巴菲特”、“科技股女股神","content":"<html><head></head><body><blockquote>抓住牛股，真难！</blockquote><p style=\"text-align: justify;\">当中国的女性私募基金经理成为行业热点时，美国也有这么一位知名度高、讨论度高的女性基金经理。</p><p style=\"text-align: justify;\">她就是67岁的凯西·伍德(Cathie Wood)。</p><p style=\"text-align: justify;\">她有很多外号：“女巴菲特”、“科技股女股神”、“木头姐”、“钱树姐姐”······</p><p style=\"text-align: justify;\">作为全球科技股投资的代表人物，伍德手下也有个规模相当可以的基金——ARKK。</p><p style=\"text-align: justify;\">这只基金曾经长期持有AI龙头股<a href=\"https://laohu8.com/S/NVDA\">英伟达</a>，却在今年1月英伟达暴涨前卖出，而错过了后续的翻倍行情。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ec6dd3fa4169e4544774456df5a27883\" tg-width=\"640\" tg-height=\"207\"/></p><p style=\"text-align: justify;\">这当然引发了投资者的质疑。</p><p style=\"text-align: justify;\">而木头姐一点不为所动，她“嘴硬”的回应：<strong>我买入的股票更好！</strong></p><p><strong>“细节控”加盟投资大厂</strong></p><p style=\"text-align: justify;\">凯西·伍德的投资逻辑，就和她的身世一样，充满了 “一意孤行”。</p><p style=\"text-align: justify;\">公开资料显示：凯西·伍德1955年出生于美国洛杉矶。</p><p style=\"text-align: justify;\">她父亲曾是在美军方机构的雷达系统工程师，为人非常注重细节。</p><p style=\"text-align: justify;\">凯西·伍德更是如此，她自小就注重细节，且善于挖掘不同事物之间的联系。</p><p style=\"text-align: justify;\">作为加州人，凯西·伍德毕业于当地并非顶尖的南加大。</p><p style=\"text-align: justify;\">但在获得了该校的金融经济学学士后，<strong>伍德有机会进入了赫赫有名的资本集团，担任助理分析师。</strong></p><p style=\"text-align: justify;\">这本身就相当“传奇”。</p><p><strong>“一意孤行”走投资路</strong></p><p style=\"text-align: justify;\">资本集团是美国最注重基本面研究的共同基金大厂之一，招人条件极为苛刻。</p><p style=\"text-align: justify;\">也因为此，进入资本集团的投研人员，多数会在该公司长期服役，甚至直至退休。</p><p style=\"text-align: justify;\">然而，<strong>伍德仅工作短短三年，便跳槽了。</strong></p><p style=\"text-align: justify;\">伍德是跳槽到了一家投资机构担任首席经济师。</p><p style=\"text-align: justify;\">换了新岗位后，伍德如鱼得水，找到了“怼人的乐趣”。</p><p style=\"text-align: justify;\">据说，她当年曾与“末日博士”之称的银行家亨利·考夫曼辩论利率走势。</p><p style=\"text-align: justify;\">这是一场堪称“火星撞地球”的辩论。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d9eed24848b2abd862f848966d2e9cfa\" tg-width=\"640\" tg-height=\"427\"/></p><p style=\"text-align: justify;\">事后，伍德更加强化了自己的“经验”：</p><p style=\"text-align: justify;\"><strong>市场共识经常错误，挑战共识机会多多。</strong></p><p><strong>和主流资管“分道扬镳”</strong></p><p style=\"text-align: justify;\">1998年，伍德开始创业，成立对冲基金Tupelo Capital，受托资产规模一度达到8亿美金。</p><p style=\"text-align: justify;\">2001年，她加盟大型资管机构联博资管(Alliance Bernstein)，操盘50亿美元规模的投资组合。</p><p style=\"text-align: justify;\"><strong>2014年，凯西伍德投资生涯的重大抉择来了。</strong></p><p style=\"text-align: justify;\">当时，她已经是联博资管的投资总监，提出设计一只主动型选股的ETF，投资主题就是“破坏性科技创新”。</p><p style=\"text-align: justify;\">然而，联博认为伍德的想法不切实际，拒绝批准相关产品。</p><p style=\"text-align: justify;\">凯西·伍德岂能接受这种安排。她立刻选择辞职，并旋即成立方舟投资（ARK INVESTMENT），专事科技股投资。</p><p style=\"text-align: justify;\">言下之意：你们不让我做的事，我自己创立个资管公司来做。</p><p><strong>专注“破坏性创新”</strong></p><p style=\"text-align: justify;\">创设ARK（方舟投资，据说该名字寓意来自《圣经》）后，凯西·伍德一发而不可收。</p><p style=\"text-align: justify;\">她将方舟投资标注为一家ETF的专门店，推出了破坏性创新、太空探索、以色列创新、基因组革命等主题的ETF。</p><p style=\"text-align: justify;\">而且这些ETF多数是主动产品。</p><p style=\"text-align: justify;\">其中，<strong>最知名的就是上文提及的破坏性创新ETF。</strong></p><p style=\"text-align: justify;\">这个产品看成是木头姐的“打榜产品”，也是市场关注的重点对象。</p><p style=\"text-align: justify;\">这个产品规模也相当可以，截至2023年一季度末，总规模达到78亿美元，折合人民币约555亿元。</p><p style=\"text-align: justify;\">另外，这只ETF自2014年10月末成立以来，年化收益率为9.92%（截至2023年3月末）。</p><p style=\"text-align: justify;\">但这个收益率，看起来还不错，但跑输了同期标普500指数。</p><p style=\"text-align: justify;\">此外，该产品的回撤也很大。破坏性创新ETF的净值最高点出现在2021年2月，自那时开始，该基金的净值跌幅一度超过70%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1ed1b84a2dfaa23b32bcead1f1b94b88\" tg-width=\"640\" tg-height=\"349\"/></p><p><strong>集中度越来越高</strong></p><p style=\"text-align: justify;\">尽管非议很多，但木头姐管理上述产品的劲头更大。</p><p style=\"text-align: justify;\">季报显示，她单个基金的持股数量通常在35~55只以内。</p><p style=\"text-align: justify;\">即便规模超过了500亿，她的投资股票数也没有大幅增加。</p><p style=\"text-align: justify;\">而且，作为主动ETF，凯西·伍德的投资实际上暴露在大众视野之下。</p><p style=\"text-align: justify;\">每个交易日收盘后，该基金均会对外披露全部持仓股票。</p><p style=\"text-align: justify;\">截至2023年5月30日，上述ETF持股数量最新降为28只。</p><p style=\"text-align: justify;\"><strong>主要持仓品种为：<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>、ZOOM（远程会议系统）、ROKU（流媒体广告）等。</strong></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9c5526eff84b49088061e54d6943ba2f\" tg-width=\"640\" tg-height=\"311\"/></p><p style=\"text-align: justify;\">上述持仓也与伍德一贯的“特立独行”风格相符。</p><p style=\"text-align: justify;\">她据说是特斯拉长期的“信徒”，曾在2018年致信给埃隆·马斯克，劝阻他不要将特斯拉私有化。</p><p style=\"text-align: justify;\">她甚至笃信，特斯拉将在未来推出一个叫车网络，并与<a href=\"https://laohu8.com/S/UBER\">优步</a>和Lyft展开激烈竞逐。</p><p><strong>错过AI龙头股</strong></p><p style=\"text-align: justify;\">但各位请想一下，伍德的重仓股里是不是少了些什么？</p><p style=\"text-align: justify;\">是的。</p><p style=\"text-align: justify;\"><strong>这只科技ETF在今年内，竟然没有投资英伟达！</strong></p><p style=\"text-align: justify;\">是不是木头姐“眼盲”，对于AI的潜力视而不见？</p><p style=\"text-align: justify;\">不是的。木头姐的ARKK，其实此前长期持有英伟达，且持仓位次一度靠前。</p><p style=\"text-align: justify;\">但今年1月，她“提前”清仓了该股，完全错过之后接近翻倍的行情。</p><p style=\"text-align: justify;\">这当然引发了投资者的热议，甚至批评，</p><p style=\"text-align: justify;\">而对此，木头姐甚是“嘴硬”。</p><p style=\"text-align: justify;\">她强硬的指出：<strong>英伟达估值过高，预期市盈率为25倍，估值已经高于市场平均水平。</strong></p><p style=\"text-align: justify;\">她还表示，英伟达并非唯一AI受益股，她所重仓的<a href=\"https://laohu8.com/S/PATH\">UiPath</a>、Twilio和Teladoc Health均有着英伟达级别的潜力。</p><p style=\"text-align: justify;\">事实上，木头姐的持仓个股似乎都有着类似的问题</p><p style=\"text-align: justify;\">流媒体平台里，她就没有持有<a href=\"https://laohu8.com/S/NFLX\">奈飞</a>（Netflix），而是看重ROKU。</p><p style=\"text-align: justify;\">但可惜的是，ROKU的股价走势，与木头姐ETF走势如出一辙，连续跌了近两年，股价最高490美元，现如今不及60美元。</p><p 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n“美国版李蓓”折戟AI投资，“一意孤行”的女股神，栽了？\n</h2>\n\n<h4 class=\"meta\">\n\n2023-06-01 22:45 北京时间 <strong>华尔街见闻</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>抓住牛股，真难！当中国的女性私募基金经理成为行业热点时，美国也有这么一位知名度高、讨论度高的女性基金经理。她就是67岁的凯西·伍德(Cathie Wood)。她有很多外号：“女巴菲特”、“科技股女股神”、“木头姐”、“钱树姐姐”······作为全球科技股投资的代表人物，伍德手下也有个规模相当可以的基金——ARKK。这只基金曾经长期持有AI龙头股英伟达，却在今年1月英伟达暴涨前卖出，而错过了后续的...</p>\n\n<a href=\"\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/d9eed24848b2abd862f848966d2e9cfa","relate_stocks":{"ARKK":"ARK Innovation ETF"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172142326","content_text":"抓住牛股，真难！当中国的女性私募基金经理成为行业热点时，美国也有这么一位知名度高、讨论度高的女性基金经理。她就是67岁的凯西·伍德(Cathie Wood)。她有很多外号：“女巴菲特”、“科技股女股神”、“木头姐”、“钱树姐姐”······作为全球科技股投资的代表人物，伍德手下也有个规模相当可以的基金——ARKK。这只基金曾经长期持有AI龙头股英伟达，却在今年1月英伟达暴涨前卖出，而错过了后续的翻倍行情。这当然引发了投资者的质疑。而木头姐一点不为所动，她“嘴硬”的回应：我买入的股票更好！“细节控”加盟投资大厂凯西·伍德的投资逻辑，就和她的身世一样，充满了 “一意孤行”。公开资料显示：凯西·伍德1955年出生于美国洛杉矶。她父亲曾是在美军方机构的雷达系统工程师，为人非常注重细节。凯西·伍德更是如此，她自小就注重细节，且善于挖掘不同事物之间的联系。作为加州人，凯西·伍德毕业于当地并非顶尖的南加大。但在获得了该校的金融经济学学士后，伍德有机会进入了赫赫有名的资本集团，担任助理分析师。这本身就相当“传奇”。“一意孤行”走投资路资本集团是美国最注重基本面研究的共同基金大厂之一，招人条件极为苛刻。也因为此，进入资本集团的投研人员，多数会在该公司长期服役，甚至直至退休。然而，伍德仅工作短短三年，便跳槽了。伍德是跳槽到了一家投资机构担任首席经济师。换了新岗位后，伍德如鱼得水，找到了“怼人的乐趣”。据说，她当年曾与“末日博士”之称的银行家亨利·考夫曼辩论利率走势。这是一场堪称“火星撞地球”的辩论。事后，伍德更加强化了自己的“经验”：市场共识经常错误，挑战共识机会多多。和主流资管“分道扬镳”1998年，伍德开始创业，成立对冲基金Tupelo Capital，受托资产规模一度达到8亿美金。2001年，她加盟大型资管机构联博资管(Alliance Bernstein)，操盘50亿美元规模的投资组合。2014年，凯西伍德投资生涯的重大抉择来了。当时，她已经是联博资管的投资总监，提出设计一只主动型选股的ETF，投资主题就是“破坏性科技创新”。然而，联博认为伍德的想法不切实际，拒绝批准相关产品。凯西·伍德岂能接受这种安排。她立刻选择辞职，并旋即成立方舟投资（ARK INVESTMENT），专事科技股投资。言下之意：你们不让我做的事，我自己创立个资管公司来做。专注“破坏性创新”创设ARK（方舟投资，据说该名字寓意来自《圣经》）后，凯西·伍德一发而不可收。她将方舟投资标注为一家ETF的专门店，推出了破坏性创新、太空探索、以色列创新、基因组革命等主题的ETF。而且这些ETF多数是主动产品。其中，最知名的就是上文提及的破坏性创新ETF。这个产品看成是木头姐的“打榜产品”，也是市场关注的重点对象。这个产品规模也相当可以，截至2023年一季度末，总规模达到78亿美元，折合人民币约555亿元。另外，这只ETF自2014年10月末成立以来，年化收益率为9.92%（截至2023年3月末）。但这个收益率，看起来还不错，但跑输了同期标普500指数。此外，该产品的回撤也很大。破坏性创新ETF的净值最高点出现在2021年2月，自那时开始，该基金的净值跌幅一度超过70%。集中度越来越高尽管非议很多，但木头姐管理上述产品的劲头更大。季报显示，她单个基金的持股数量通常在35~55只以内。即便规模超过了500亿，她的投资股票数也没有大幅增加。而且，作为主动ETF，凯西·伍德的投资实际上暴露在大众视野之下。每个交易日收盘后，该基金均会对外披露全部持仓股票。截至2023年5月30日，上述ETF持股数量最新降为28只。主要持仓品种为：特斯拉、ZOOM（远程会议系统）、ROKU（流媒体广告）等。上述持仓也与伍德一贯的“特立独行”风格相符。她据说是特斯拉长期的“信徒”，曾在2018年致信给埃隆·马斯克，劝阻他不要将特斯拉私有化。她甚至笃信，特斯拉将在未来推出一个叫车网络，并与优步和Lyft展开激烈竞逐。错过AI龙头股但各位请想一下，伍德的重仓股里是不是少了些什么？是的。这只科技ETF在今年内，竟然没有投资英伟达！是不是木头姐“眼盲”，对于AI的潜力视而不见？不是的。木头姐的ARKK，其实此前长期持有英伟达，且持仓位次一度靠前。但今年1月，她“提前”清仓了该股，完全错过之后接近翻倍的行情。这当然引发了投资者的热议，甚至批评，而对此，木头姐甚是“嘴硬”。她强硬的指出：英伟达估值过高，预期市盈率为25倍，估值已经高于市场平均水平。她还表示，英伟达并非唯一AI受益股，她所重仓的UiPath、Twilio和Teladoc 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