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“It’s sort of like taking all chips at the table and just putting them in the middle.” (Tesla shares are now trading at around $4,400, after accounting for a five-to-one share split in August.) “She made the Tesla call and that was mocked for a year,” Balchunas said. Her call for Tesla stock to climb to $4,000 when it was trading at $300 in 2018, and making the prediction on the big news networks, was shockingly bold. ARK didn’t reply to a request for comment.īalchunas says Wood, who was previously the chief investment officer of global thematic strategies at AllianceBernstein, is more than just a recent sensation. It has more than a whiff of the “ new era” thinking that tends to come with technology bubbles.

#ROCKSTAR STOCK SERIES#

The firm says it’s focused on “technological innovations centered around DNA sequencing, robotics, artificial intelligence, energy storage, and blockchain”-a series of promising but ultra-hyped technologies. Wood has championed the buzziest assets that seem the least connected to anything resembling economic reality, from Tesla stock to bitcoin. The question for ARK is how well the team’s picks hold up if and when the stock market has another downturn. That’s up from $6.6 billion in January 2019. You should buy one.” The incredible rise of ARK InvestĪs fans multiply, money is flooding into ARK’s funds, which have nearly $50 billion in ETF assets, according to Bloomberg Intelligence. “Just a huge fan of ARK and Cathie Wood,” Dasnooze’s proprietor told Quartz via a direct message on Twitter. Wood’s fans include the person behind Dasnooze, who declined to divulge their name but claims Wood-themed merch outsells everything else on the site, evidently beating out items like the JPOW (Federal Reserve chair Jerome Powell) mug and a bull-and-bear beanie. What if I don’t get my second Covid-19 vaccine dose on time? There’s not a lot of ETF TikToks, but there are a lot on ARK.” “I was wrong,” Balchunas said of his call about the end of rockstar managers. Her bold investing calls have inspired legions of fans on social media-and now, apparently, a line of ARK merchandise on Dasnooze, a website that sells stuff based on Wall Street themes and memes, including a $22 Pershing Square mug and $115 GameStop shorts. ARK’s Innovation ETF has rallied more than 170% during the past 12 months, blowing away the 17% gain for the S&P 500 Index of large US stocks. Then came Cathie Wood, the CEO and founder of ARK Invest, whose actively managed ETFs have done just that. So-called active fund managers have often struggled to beat them.Ī new study shows occupations with the highest Covid death rates Indeed, in recent years money has flooded into cheap index funds and ETFs, many of which robotically track a benchmark rather than trying to beat the overall market.

“We thought the era of the rockstar manager was over,” said analyst Eric Balchunas, an exchange-traded funds expert at Bloomberg Intelligence. It’s been a while since anyone new has broken into the pantheon of legendary investors like Berkshire Hathaway’s Warren Buffett and retired bond king Bill Gross.

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