Cathie Wood’s ARKK ETF unwinds its epic bubble
The smartest woman in the room continues to spout deflationary slogans and buy her fallen angels (I just saw a blurb that she’s buying more Tesla; ref. its downside target per this December 22 post) with the idea that inflation has been bad for her overvalued growth stuff, which it has.
But thus far the decline in inflation signals has failed to do anything other than continue punishing richly valued growth stuff. Still, Cathie looks smarter than you and certainly me. How does she pull that off? The 2022 bear market was in essence a destroyer of excess valuation, and that job shows no signs yet of abating in ’23.
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