Is this normally confident bunch holding through the 25% drawdown from the top in a week or did they abandon their position ? Declare your strategy now if you insist on making fun of Cathy Wood later. And no, I have no opinion on the direction.
1 Year Performance:
ARKK down ~46%
QQQ up ~11%
IMO she's overrated as an investor. Billions were thrown her way from short-term success which she put in a small list of companies & others followed her pushing her positions to insane valuations. When the inflows turned to outflows, there was no reasonable valuation to stop the drop as most were "hype" investments.
Time will tell if she can prove to be a good investor.
***No position.
If speculation runs rampant again, she will be right.
Abundand returns can never last very long, but it is difficult to forecast a top?
*was long from Monday, switched to short eod today, stoploss = 10 days (options))-**
I'm short ARKW since 145!! Was going to cover a while back but I saw how weak it was and decided to hold, so holding still and will cover 1/2 when the nasdaq breaks to fresh lows.
What "fresh" low would that be? 12,000? Yer a winner, man. Equity destruction for the common man.