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Michael Lewis talks about his time on Wallstreet in Liar’s Poker and in several interviews. His take was that he had no idea what he was doing and realized that

Michael Lewis talks about his time on Wallstreet in Liar’s Poker and in several interviews. His take was that he had no idea what he was doing and realized that he was far from alone. He just knew enough to know he knew nothing; many his colleagues fooled themselves. I don’t think Cathie Woods has ever read a single book on investing. If she has she ignored everything she read.

mym1990 4y ago
I wouldn't extrapolate on what she has or hasn't read haha, that's just silly, but it is clear that she is a hardcore believer in high tech and is willing to go down swinging. The sad thing is that she will just blame a recession, or the fed, or something else for the poor performance, close up shop, and go on to the next thing. But plenty of people that invested with her won't be so lucky.
- nr2x 4y ago
  The article says she gets her advice from the Holy Ghost. Literally.
  - Gatsky 4y ago
    Not quite... she says there was divine inspiration for starting ARK, not that she is getting stock picks from God. God would never suggest buying the unholy creation that is Zoom.
    - MarcelOlsz 4y ago
      Maybe God is one of us? On a call like one of us...
- tonguez 4y ago
  “I wouldn't extrapolate on what she has or hasn't read haha, that's just silly” i cringed reading that
brightball 4y ago
Stuff like this makes me appreciate boring dividend stocks even more.
- ripper1138 4y ago
  Dividends are gold the next 2 years.
SkyMarshal 4y ago
> I don’t think Cathie Woods has ever read a single book on investing. Just fyi, your prior comment somewhat contradicts this one. If Wall Street professionals themselves don't know anything about investing and are just fooling themselves, then how can any book know more than they do, given that investing books are written either by Wall St professionals, or by not-Wall St professionals. For someone like Cathie who is actively studying the markets all day and has her, or her clients', own skin the game, investing books would be no better and likely worse sources of information for her.
- etempleton 4y ago
  “Many” not all. Certainly there are people on Wallstreet that know what they are doing.

mym1990 4y ago

I wouldn't extrapolate on what she has or hasn't read haha, that's just silly, but it is clear that she is a hardcore believer in high tech and is willing to go down swinging. The sad thing is that she will just blame a recession, or the fed, or something else for the poor performance, close up shop, and go on to the next thing. But plenty of people that invested with her won't be so lucky.

nr2x 4y ago
The article says she gets her advice from the Holy Ghost. Literally.
- Gatsky 4y ago
  Not quite... she says there was divine inspiration for starting ARK, not that she is getting stock picks from God. God would never suggest buying the unholy creation that is Zoom.
  - MarcelOlsz 4y ago
    Maybe God is one of us? On a call like one of us...
tonguez 4y ago
“I wouldn't extrapolate on what she has or hasn't read haha, that's just silly” i cringed reading that

brightball 4y ago

Stuff like this makes me appreciate boring dividend stocks even more.

ripper1138 4y ago
Dividends are gold the next 2 years.

SkyMarshal 4y ago

> I don’t think Cathie Woods has ever read a single book on investing. Just fyi, your prior comment somewhat contradicts this one. If Wall Street professionals themselves don't know anything about investing and are just fooling themselves, then how can any book know more than they do, given that investing books are written either by Wall St professionals, or by not-Wall St professionals. For someone like Cathie who is actively studying the markets all day and has her, or her clients', own skin the game, investing books would be no better and likely worse sources of information for her.

etempleton 4y ago
“Many” not all. Certainly there are people on Wallstreet that know what they are doing.