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‘Our Strategy Is Our Strategy’
It's time to sell the rips in tech.
Hold that thought.
"So, if you've never seen this before, where there's appreciation but your strategy isn't working, do you change your strategy?", an inquisitive Taylor Riggs wondered, while interviewing Cathie Wood earlier this week.
Riggs was responding to Wood, who said she's "never been in a market that's up and our strategies are down."
"Our" was, of course, a reference to Ark's products which embody "hyper-growth," an informal thematic designation
How quickly everyone wants to jump on the bandwagon conviently forgetting ARKK was up a mere 160% in 2020
The first rule of tautology club is the first rule of tautology club.
Yes, and the first rule of niche, non-diversified equity investing is be prepared for some wild swings, both directions. I’m not sure why everyone picks on her, other than just to be overgrown 2nd graders. Her giant wins and losses are precisely what you’d expect from year to year. Wouldn’t a typical VC book experience the same up’s and down’s if it were marked to market on a daily basis in very visible fashion?