There actually was a very good piece about this a while back that many here criticized... https://news.ycombinator.com/item?id=29698436 https://news.ycombinato

There actually was a very good piece about this a while back that many here criticized... https://news.ycombinator.com/item?id=29698436 https://news.ycombinator.com/item?id=29698436 Mind you, Cathie Wood and Bill Huang and Masayoshi Son and Tiger are all levered beta plays with Ponzi dynamics. The core premise is not valuation but rather can they find another buyer willing to pay a premium for the story they shill. Think We Work but in the equity markets. The high beta stocks in these funds aren't only held by ARK, they're held by many, many hedge funds and are known in the business as "hedge fund hotels". As such, many on Wall Street are incentivized to juice these stocks, promote them, and find bag holders as exit liquidity at the highest prices possible. This does not make them good investments and it absolutely makes these fund managers shitty fiduciaries. What's worse, she makes statements to lure in retail investors: """ For those who aren’t following along closely, Wood once again publicly predicted that ARK Invest’s flagship exchange-traded fund — ARK Innovation ETF (ARKK) — would generate annualized returns over the next five years of 50%. Said another way, she predicted that ARKK would generate over 650% in total returns in five years. We all know this is highly unlikely. In fact, I believe that since the enactment of the Investment Company Act of 1940, it has only been achieved by a registered investment company a single time. In that instance it was achieved by a 3X leveraged fund. These outlandish predictions help ARKK and Wood at the expense of retail investors. Unsophisticated retail investors look to ARKK’s incredible past performance and Ms. Wood’s stature in the industry and are likely to rely on these predictions in making investment decisions. If these investors place a high level of confidence in Wood, they may lose a large portion of their capital. Retail investors are the real victim of these predictions. """[0] Think about everything Chamath promoted. Every single one of those companies had multiple rounds of VC funding which were ultimately unloaded on the public at insane valuations through SPACs. Sure he and his LPs made out like bandits, but was he right about anything other than the fact he could lure retail to pay stupid prices and hold his bags? Think about alt coins. Same bullshit. IT'S ALL FRAUD. JUST LIKE CRYPTO. IT NEEDS TO STOP. THE CAPITAL MARKETS ARE A CIRCUS FOR VCs. I don't think it some coincidence Tesla mooned alongside crypto. It's all the same crew... [0]: https://citywireamericas.com/news/opinion-the-sec-needs-to-crack-down-on-cathie-wood/a2385343 https://citywireamericas.com/news/opinion-the-sec-needs-to-c...