Seems likely that she's quite _老虎社区_美港股上老虎

Cents
2021-04-26

Seems likely that she's quite stretched to find new themes or stories to sell...She might be better off concentrating on her existing funds...

Cathie Wood's Bloated ARK Forges Forward

We've been documenting Cathie Wood's adventures in active management over at ARK Invest for the bett

Cathie Wood's Bloated ARK Forges Forward

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The link drew obvious comparisons, although we're certain Wood isn't employing the insane leverage that catalyzed Hwang's blowup.\nThe second isbecause the launchof her newest actively managed \"Space Exploration ETF\" has included some curious names. For example, it owns names like John Deere, which many find curious, while excluding space exploration pure plays like Maxar.\nBut something else is going on that has piqued our curiosity as of late. Wood's actively managed style seems to be drifting further away from risk-adverse and closer to just \"risk\". Sure, we have pointed out in the past Wood's propensity to sell large, liquid tech names like Microsoft in favor of buying speculative early stage names like Workhorse and Vuzix.\nAnd now people are also pointing out that ARK's funds have been taking sizeable stakes in otherARK funds. ARK's Space Exploration ETF now owns 7.2% of ARK's 3D printing ETF, for example.\nAdditionally, Wood has alsoalready amasseda several hundred million dollar position in the newly listed Coinbase IPO, which is down almost 20% from its $350 reference price when it listed. Despite your take on crypto, it's tough to deny that piling into a sizeable equity position based mostly on super-volatile cryptocurrencies is a risk adverse strategy.\nAnd this has caused many on FinTwit to think about the feedback loop that is slowly determining whether or not ARK funds see success. This diagram appeared over the weekend, and shows exactly how - should inflows into ARK funds slow or reverse - their intrinsic value could collapse.\nNot unlike the Allied Capitals of the world, ARK looks more and more like a BDC marking its own book up as the cycle continues to feed off itself. 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Cathie Wood's Bloated ARK Forges Forward

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