The ARK Innovation ETF managed by Cathie Wood has had a miserable performance in 2022. $ARKK @CathieDWood has destroyed many small investors. You need a miracle to just break even, but don’t worry, Ms. Wood has your 0.75% a year. With Arkk down 70% this year, you need 233% gain next year to break even, do you feel lucky?
‘The drop in ARKK assets, from $27.9bn in February 2021 to $6.4bn today, was purely driven by valuation decreases in its portfolio of investments: overall the ETF has actually hoovered up $1.4bn in new client money this year, as investors bought the dip.’
That’s the bad part and we can’t let $ARKK get out by just being “idiots” or “wrong”. As financial “professionals” they knew better than the absurd price targets and deranged theories they through around. What they did was fraud and fleecing novice investors for their own gain.