Is Cathie Wood a genius or a stubborn dummy? Time will tell. So far, Cathie Wood’s ARK investments have been taken to the cleaners in 2022 with massive, sustained losses.
Like an automated pre-programmed robot, Cathie Wood continues to buy more shares in stocks in strong downtrends. Please don’t tell me she’s buying while blood is on the streets. The bodies haven’t even started to pile up yet, and her $ARKK fund is down more than 70% from its high.
Is it possible that Cathie Wood is using Blackrock’s Aladdin for her robotic-like accumulation of stocks? For example, the firm’s flagship ARK Innovation ETF (NYSE: ARKK) bought 90,861 shares of Coinbase Global, Inc. (NASDAQ: COIN), valued at $4.9 million. $COIN continues in a strong downtrend, and its management has commented about its ability to continue operations in the face of the plunge in the value of most cryptocurrencies.
It does make you wonder about her emotionless, automatic type trades in the face of a possible eventual bankruptcy filing and liquidation of her funds.
This Robot Already Owns Everything (And it’s just getting started): Blackrock Aladdin
