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"Disruptive" and "game changer" are terms meaning WE'RE AS FAKE AS THERANOS.... I saw something, probably a Mike Winnet video (busts "conterprenuers") that was explaining all the terms cons use...
Hello Patrick love your content .. can you do a video on BRICS and what a BRICS backed currency would mean for the west and what it would mean for the BRICS nations would it benefit a nation like South Africa ? It also seems there are many other nations looking to join BRICS such as Mexico argentina Uruguay UAE.. thanks
another little known (by the public) problem with funds, money managers start funds with a small amount of money under management. They "nurture" this fund to create truly outstanding returns. Small funds can be nimble. (if they fail, the fund is quietly canceled.) With market-beating performance numbers, the fund is "marketed" to the general market of mutual fund investors. If this is successful, millions perhaps billions flow in. Money undermanagement is the goal. But the bigger the fund becomes, the less nimble it becomes. And the larger, less nimble fund begins to underperform. But the goal was to rapidly increase the money under management. If the goal was beating broad market indexes, they'd keep the fund small. But small funds are not very profitable... When looking at a "hot" fund, pay close attention to how large the fund was when it was creating market-beating returns. And then compare that number to the current size of the fund. A fund that's grown rapidly in size will likely fail to match its previous ROI.
I was invested in ARKK, but I dumped it last year and put the money into an S&P500 index fund when she started making inexplicable moves like YOLOing into Roku. I do not regret it.
Cathie Wood came to my notice last year when she remarked that a $10 drop in the iron ore price from $150 to $140 per ton was a disaster for Australian iron ore miners. She didn’t seem to be aware that their production price is around $20.
production price has nothing to do with it, it just slave wages that noone cares about, farmers sell tomatoes for 5 cents a kilo, but shop sells them at 2$, they need massive margins cause things go bad and opportunity cost of using logistics for something else more profitable than some low margin stuff
I've been revisiting old videos and can't help but comment that this is probably my favorite suit of yours in the entire wardrobe. Very suave, Patrick!
I made a good couple of years gains just buying the Ark shares after KW bought them, just to sell 3-5 days later. This is mainly due to investors buying and selling shares in the daily Ark fund email updates. At one point I was fairly certain the reason for the regular updates was to drive the price up due to people copying the funds transactions, especially the buy signals. The daily updates were very much a free signals subscription.
I made over $120k doing this in 2020, mainly on TTD, Zoom, and a 3D printing company. I should’ve switched to shorting though, since I’ve lost a lot this year and have switched to mainly index funds and a few energy stocks. My strategy for 2023 is to DCA tech companies if I see any rebounding.
I invested in ARKK and ARKG often in 2021. Fortunately I had well placed close stops so I hardly lost anything. I learned that if well placed stops get hit frequently, it's a downtrend - whatever anyone says. The big danger IMO is believing it's an uptrend or bottom when it isn't and taking those stops away.
Spot on . Tight stops = if the scenario is perfect it's cool . If it's invaildated by anything ( not really important what ) than we should get out and get in at a better point .
Part of the problem is the cheering financial reporters and outlets. No body ever called her nonsense. There is no consequences for spreading nonsense. The fundamental flaw with an investing mindset is that investing appears to be replacing the idea of working for a living.
this is why it makes sense not to watch too much news or any at all, you literally become retarded, too filled with fear to even act on your obvious instincts. it is a global echochamber that enables stories alike to the kings clothings to play out over and over
@@jannes9945 It's easy for HER to make money using other people's money with her bullshit lies but yes, everyone has beaten her because she lost to the broad market S&P when including dividends without having to worry about long term performance. That's also not even comparing her against QQQ which should be used when comparing ARK since she invests in basically all tech companies. QQQ absolutely destroyed her fund by a massive margin and is a significantly better investment than ARK. Her fund is terrible by every metric and you're lighting your money on fire by getting anywhere near this woman.
The finance media is partially to blame for this phenomenon. ARKs funds were presented as a winner on most if not all of the large financial publications at the time. Wood was interviewed everywhere and titled an investing genius. If one is a beginning investor (read: young retail folks) such clout might seem enticing. It requires someone with more experience and understanding of the finance market to be able to critically assess claims made by finance media and industry "experts". Same argument goes for crypto as all the way before the plunge of 2022 all the major finance publications were touting crypto as the future and I saw several articles where even women and minorities were tried to be tricked into crypto investing. This from respectable news publications.
thankfully there is now redit and other sources where we retailers constantly advise others to not listen to what corporate media is selling. a name comes to mind... Jim Cramer or something
Cathie Wood is surely the serpent from the Garden of Eden. Like the serpent, she reverses everything. We say that stocks are overpriced, she says they are underpriced. We say inflation is incoming, she says that deflation is incoming. Etc. And she tempts people to buy stuff that they totally believe is wrong, likely utterly terrible growth stocks that hang by a thread that will most definitely break at some point soon. And if she's the serpent it explains why she has a beguiling voice and why she hangs around Christians and the Christian Church. 🙂
Even a broken clock is right twice a day. A crap investor will, from time to time, find their stock picks to be flavour of the month (or quarter). The clued up person does not confuse luck with investing skill Patrick you also made a very good point about low volume stocks - michael burry undoubtedly recognised that the value of Arks (and woodfords) portfolio was materially based upon the price the fund itself paid for illiquid small company's stocks - which artificially inflated their value vis a vis the real market price.
Woodfords prediction back in 1990s that the Internet will forever change business was not wrong. But picking stocks is harder - because one has to invest billions in high market cap companies like Exxon or AOL I suppose. Google and AMZN had paltry market cap. Similarly Cathy faces the same problem. She may be right on AI (I am a guy with deep finance experience who also has 18 years experience with machine learning). But to invest in AI is impossible as the total market cap in real AI companies is no more than $200M. Very little pure play AI companies out there. Almost none are publicly traded. Cathy may very well be right, but SEC laws prevent her from making pre-IPO investments.
@@Annou7la Actually that is the conclusion I kinda arrived at this point investigating investor efficiency lately. Every single piece of evidence seems to point to the direction of index funds with realatively low but - mostly very predictable and stable - returns. The incredible uncerteanty in the world right now, makes even these kind of secure investments somewhat of a risky proposition, the only difference comes out when you consider how risky also, to not invest into anything. (widespread inflation, predicted collapse of multiple pension systems) Catch 22, you have to take some risk and live with it, but the wise thing is to minimize it. (I guess thank you cpt. Obvious)
A broken clock is still a broken clock, and it being 'right' twice a day depends entirely on accident/happenstance. Actually a good analogy for investors, now that I think of it.
The lesson to take away from Archegos and ARKK is to stay far away from religiously named funds and creators who think they've been ordained by God to make money in stocks. Successful trading requires more than paying a tithe.
There is always someone on a lucky streak who is then hailed by the media (and now youtubers and tiktokers) as a genius. Michael Burry, Ray Dalio, Bill Ackman, Cathy Wood, Chamath Palihapitiya. Just ignore it, there will always be someone making big news with their latest calls, that's just how randomness works.
You killed it Patrick. I'm watching from a ghetto in Chicago and that was better than the action that happens on a Friday night in the inner city jungle. I always learn so much. Thank you.
Cathy Woods was an unknown, but successful money manager before she started her own firm. Ark was setup to invest in future technology type businesses........and young investors who are basically inexperienced was the target customer........I think Ms. Woods moved away from fundamentals.....used emotion......."this is the future tech".......we invest early in these firms....the returns will be high down the road. Sort of like a ETF for venture capital type firms that have high failure rates...75% to 90%...invest in future tech...but......only a few will make money. I also think when she invested 10 or 15% in a firm...she knew she could get board seats....become an activist investor........another mistake. Patrick did a good of identifyng the mistakes made here. Ms. Woods is walkng away with a lot of money while investors lose money......
@@user-pl5zx4sp5c I think Ms. Woods got too big, made fundamental mistakes in investing, has young inexperienced staff around her. She has the young crowd surrounding her because she is marketing to the same age group....but many of these types of guru investors know in the end index funds with low costs are suitable for most passive investors. The future tech businesses are very interesting.......can be enticing.....but any smart investor would allocate a small percentage of funds to invest in them. Again, Ms. Woods is walking away with lots of money.....this is the key....she's getting wealthy on other peoples money....win or loss....she always makes money
Warren Buffet has made much the same points many years ago but I enjoy the additional information & analysis (and of course the humour) delivered by Mr Boyle. Every one of his videos is an education.
Interesting that you mention ProtoLabs. As a mechanical engineer, I've done business with them for over a decade and been happy with their quick-turn machined parts and injection molded parts (they're expensive but FAST). I had no idea what a roller coaster their stock price had experienced over the last 5 years.
I have also never understood the tendency people have to jump on a boat that has already sailed often seemingly expecting infinite exponential growth. It's kinda like Education. More people went to College in the 70's amd 80's and many who "got into Computers" as the internet tool off, made lots of money, SO the general consensus was that everyone should do that. Then all of a sudden there was an abundance of qualified people and more automation scaling down operations. Now the jobs people wanted to avoid because of their relatively lower average salaries like Plumbing, Electrical, Mechanics, etc are making MUCH more than those with a 4+ year degree in the field they are working in...if they are working in it...or at all and a loads of debt. Same with traffic too! One lane starts moving so everyone gets over, backing things up even more and ensuring that lane will stop moving. It's definitely an "natrual/instinctual" reaction it seems ugh.
In other words, the pricing of a small-cap fund is especially reflexive. What seems like 'gains' is actually just a measure of how much others have invested. They are unrealisable gains because the liquidity is so low.
@Javeec but are they disruptive? And can they synergise with the new hybridised work/life flow? /s just in case anyone thinks I'm that WeWork guy or something.
Yes I'm one of those idiots that got into ARKK et al early in 2021 and just sold it all last week. It was an important lesson I had to learn to not chase the stock while it's rising. Why did I sell? It was affecting my mental health seeing the loss from it in my portfolio and I needed to push the reset button and clear my head.
Just dca into a diversified low cost index fund. You'll beat the vast majority of investors and never have to worry about some clown lighting your money on fire
I'm glad you brought up how most investors are groupies regardless of funds. Even SPY has similar investor behavior, buying at peak good times and selling at peak bad times. Very informative and funny at the same time.
The issue I see with some of the penny stocks in ARK is they are 10 year investments starting from scratch, that do great when given meme stock treatment but are very vulnerable to macroeconomic trends. The key to entering them is to completely ignore meme like news events, but shop for the ones that are most under-rated at a given moment.
Peter Lynch also figured out individual investor returns for the Magellan fund which on average doubled investor's money around every 2.5 years. Namely that over 60% of investors lost money in the fund trying to time the market by buying at peaks and selling at lows.
I usually have a general rule that if youtubers are getting hold of it, it's probably time to look for a short rather than actually buying whatever they're talking about
I feel enough attention isn't given to Patrick's deadpan humour. It really stands out in videos focusing on these kinds of subjects. It also helps make the videos more fun, memorable and approachable. As always, hope you keep up the great work Patrick! Thank you for putting out content like this!
Kathy is definition of “Artificial Intelligence” I have no idea how she is still allowed to manage peoples money. Oh yea, when she sells collects a commission and when she buys, she also collects a commission and don’t forget when she mismanages her clients money she also collects a commission. What a deal.
This video outlines the #1 reason I do no invest into these groups. As a retailer trader, I face huge hurdles that her behavior creates, but at least when I'm green on a trade, I keep most of it.
Ark’s technical team seems to have a gap in their ability to assess new technologies and their value propositions. I’m familiar with some of the companies and many of the technologies she’s invested in and her comments seem not optimistic but divorced from a realistic assessment of value. Just because a technological innovation is significant doesn’t mean it has real business potential.
It doesn't matter to them. After they'll invest, Cathie will do her rounds of public promotion of those companies and products to increase stock value like Tesla 4k stock, bitcoin 200k value etc., sell it near the peak and move to another company/stocks...
Excellent reminder to investors to invest profitable by using counter-intuitive, unemotional timing: buy low, sell high. The time to buy is truly when there is blood in the streets.
And what if the “blood in the streets” becomes even more bloody? And instead of a dip, you’ve bought a falling knife? Buying the bottom is too risky, since it may not be the bottom. It’s much better to buy a company after its rebounded at least 20% off the bottom.
@@jeffw8218 If you're not sure if it's the bottom, it probably isn't. Buying a stock for pennies that has previously traded for hundreds of dollars is a good example. There are only two things that can happen: a rebound where you'll get a massive return, or the company fails and you lose everything. You wouldn't put all your money into a stock like that for obvious reasons.
yeah your absolutely right, Im so stupid to be sucked in after my FOMO so called friend greased me to invest and buy ARK etf. Lesson learned. Yeah disruptive innovation, it’s actually it disrupted my investment.
It’s kind of incredible what a natural, common mistake it is to chase returns and pull out on dips, considering how it inverts the most basic concept of buying low and selling high.
It's a conflict between human nature and logic. When we see a bunch of people crowding around something we want to see what it is, and when we burn our hand we drop the burning thing. Instinct vs. reason.
I think neither oversimplified strategy is guaranteed to work. You could have sold AMZN when it was rising and bought NIO when its price seemed low, you'd regret in each case.
One way to succeed in stocks is to heavily promote the things you already bought and then tell everyone to sell after you do. You can look like a genius until you don’t.
Soon after having taken notice fo Cathie Wood for the first time I heard her saying that they would stop holding a certain stock (must have been TSLA) when it's yearly increase in value would drop below 15% it was already clear to me that I never ever would invest a simgle cent in any ARK ETF. I mean, 15% return per year isn't too shabby after all, so why get rid of such a stock if the company behind it does well? Of course such a strategy could be driven by just by sheer greed, but in Cathy Wood's case the presentation of that strategy only was done to trigger potential ETF customer's greed, in other words it was intentionally misleading.
Easy way but less rewarding - jumping from one stock to another regularly based on news flow. Tough job but highly rewarding - stay invested with well-analysed ideas till those become significantly overvalued. I practice “tough job” and had been rewarded significantly.
@@carter3294 The best way to cope with this market is to work with a financial specialist; most individuals have never encountered a bear market, which is why their emotions are all over the place. I've been led by "Casey Allen Gray," who has helped me see that profits can be produced in bull and bear markets alike, and I've been doing well with a 15% monthly ROI.
Studies indicated about 80-85% of a typical alternative investment fund's economics would go to the lead founders, leaving 15-20% was left to compensate the rest of the firm (management, investment, and operations teams). Those compensation studies were published both by academics and HR consultants and were from a decade ago; I don't see why those economics would have changed.
My favorite clip of this video is @ 9:47, where Patrick describes Protolabs as "a 3D printing company"..........while showing a factory filled to the brim with Haas CNC mills. Come for the financial information, stay for the humor.
If most of ARK investors are young, then they learn the lesson early, they have a chance to recover and come out the other side wiser and less gullible. Personally I never understood Wood’s appeal to the social media, chat room types. She looks so Mumsy.
Peter Lynch said the same thing 30 years ago about investors very rarely if ever matching the performance of the funds they invest in. Sorry I just can’t blame the fund manager for investor mistakes on entries and exits. I sold AARK about a year ago, did well and just bought again last week. I just don’t use high percentage buys on volatile stocks. But I like most of AARK’s investments.
Agree. She has managed to at least fund some companies with disruptive technologies that in the traditional markets would have been bought and shut down by the markets they try to disrupt. It's a risky game but it could be beneficial if some of her sectors do thrive.
Patrick for some reason I didn’t watch your videos for like a year after learning about you, and that was a mistake. You are the funniest financial guy on UA-cam 😂
What's wrong with buying the dip at 12:50? Wasn't Patrick saying earlier in the video that investing right after a bull run and selling when there's a drawback is the main way people lose money? Is it that buying the dip blindly in a fundamentally inflated, or poorly managed fund is bad, or is it something else?
I mean she did perform similarly to the s&p500 which isn't too bad, although you should probably just get the s&p500 instead then. But still as such I wouldn't call her a scam as of yet.
@@fanban2926 exactly; it's within that range to not be classified as such. But what I see is an aggressive marketing campaign for propping up the stocks, using the inflated price from increased buying pressure as a means to add fuel to that fire. Any rational investor could see that a large portion of the stocks she was pushing were already overvalued, so it's not that she would not be in any way aware. Didn't stop her from allowing her ETFs to expand; even if it was clear that correction would eventually have to occur. She did quite the opposite; she continuously re-asserted that her stocks would contribute to us reaching something akin to a technological singularity and all her ETFs were going to the moon. Would she have sent the same message if it didn't make her hundreds of millions? I'm not saying it's a scam exactly, but it does have a number of scam like qualities.
@@krdxz I think they would work a lot better if they had low fees, were remade every two weeks, and if one purchased it on a set schedule automatically. The gains could be insane. Unfortunately from what I can tell they are all either daily (tax issues, risk of ruin) or monthly (too slow, doesn't track the index at all), have high fees, and the brokerages disables automatic purchases for these leveraged ETFs manually. Such a shame, I'd love to give one a few bucks every week for five or so years to see if the math checks out. Really, just imagine a low-cost diversified american low/mid cap weekly leveraged fund. A man can dream
@@boldCactuslad I do hold little bit of them, because as you write it looks like math here is on your side. But they are extremely risky, market can go up and down daily but overall staying flat and leveraged ETF would lose money. Not to mention what happens to 3X leveraged ETF when underlying security drops by 33% or more in one day. And of course the fees you mentioned. They are only for investors than can tolerate high risk and understand that they can be wiped out.
I bought ARKK 3 months ago when the media and investors on forums started dumping on them. I’m up over 20% versus 7% SP 500. Obviously I know it’s highly volatile and I don’t invest a lot there.
3 month time horizon is meaningless. The reality is that cathie wood has no great insight into stock investment and anyone who promises annual returns of 40% is either delusional or deceitful
The ARK Innovation ETF always seemed like it was playing roulette betting on certain kinds of tech startups. A handful may hit big, but most will go nowhere. I put in around $1k in late 2019 on a lark. It is still worth more now, but I've no plans to risk more.
08:45 Mr. Patrick just touches on it ever so briefly, but for anyone interested in the history of investing and finance, this is a fascinating series of events that allowed Rothschild (pron: "rohd-shield) to make a killing in the London market. There are a number of videos on YT that provide a more detailed look into the events of the time. Highly recommended.
Héhé. one of my homeruns in 2022 have been a short position on ARRK. When it got to go sideway, since the month of May expiry i have covered the position and have been selling strangles on the ETF. It's a nice underlying to do that as a the ETF price is now relatively low and its IV have been through the roof. I would argue that this strategy (the short ARKK ETF) have been made the same way people that got long ARKK in late 2020. It was sell low, buy lower. It's momentum based. Timing is indeed very hard. You have to set clear predertermined boundaries to get out if you're wrong.
I always find it incredible that people can believe that an economy as large and diversified as the US could grow by 20-30% a year even though it's never grown that fast even during periods of radical technological change such as the invention of computers
I guess the question is whether the past is predictive of the future. There are reasons to think so to some extent, but also reasons to think not. Supposedly, we could be moving towards a period of exponential-like growth due to approaching a technological singularity. We can’t really say whether that is going to happen of course, but we also can’t be certain that it won’t; times change and each moment is uniquely different than all before, even if many parallels can be drawn
The stocks rose not because people thing the economy is growing, they rose because there is more money in the system and people hurry to take advantage of that before anyone else and hopefully bail out leaving others holding the bucket.
As always, great video not just for beginners/new investors trying to enter in the market but also for those who already have decent exposure to funds. If I may, respectfully, one of the thing I would suggest you to include in a a future video is that when we buy a fund, we do not buy the past performance of the fund but rather the investment style of the fund manager. Any fund can have a streak of stellar performance for a few years. But that can also be backed by the market conditions prevailing at that time and might have little to do with the integrity and investment strategy of a fund manager. This is something that specially the retail investors should consider. This might not be applicable for billionaires or fancy electric car manufacturing company owners who might recover all their short term loss by riding the wave of short term speculation.
Nice vdo. 1 major mistake she did was that she kept promoting her stocks and positions on social media which caught the attention of the rest of the Smart money which started Shorting her stocks and funds, this is one reason y her fund and stocks are performing poorly.
Thank you for the book recommendation, I picked it up along with Ray Dalio's new Principles book. I would love to hear your analysis on some of Dalio's free content on UA-cam, and alternatively your impression of another great video I came across on the Numberphile channel about Jim Simons.
12:00 yeah that is optimism at it's finest. We're no closer to AGI now, than we were when Steve Jobs was busy carving a wood case for his Apple-I computer.
Whenever some starts their own fund and hires a lot of young, inexperienced kids, you know what's going on. There are some basic PC programs that run on a laptop and consistently outperformed some of the top guessers for year. That's all they are, guessers. Maybe more educated than most but...
Anyone who’s taken an economics class knew she was out of her mind & that she’d take a major “L” at some point in the near future. Now she can’t keep that same energy she had when she was hyping up her illogical/irrational decisions & she’ll stay quiet/invisible until things turn around, but she’ll also conveniently ignore ALL of the losses she caused because less educated/sophisticated “investors” trusted her
Patrick, I believe that it would have been worthwhile including the fact that Michael Burry called this out early, thus giving investors plenty of time to either pull out of the fund or not invest at all. I’m pretty sure he was shorting ( but as usual got in too early) . Anyway he’s a good Canary to have with you if you’re going to work in a coal mine ( stranded asset’s which produced me a nice return).
When I googled it it says 'ARK isn't backed up by credible ETF research, and that's why it has capitulated under changing market circumstances. The fund's information ratio suggests that it's not managed efficiently '
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Is the suit a joke?
"Disruptive" and "game changer" are terms meaning WE'RE AS FAKE AS THERANOS.... I saw something, probably a Mike Winnet video (busts "conterprenuers") that was explaining all the terms cons use...
Jacket with no tie.. are you hipster trolling hipsters? Is this a credit or debit spread? I'm confused!
Patrick do you think that the people that are saying we have seen the bottom are correct? And we have seen the worst?
Hello Patrick love your content .. can you do a video on BRICS and what a BRICS backed currency would mean for the west and what it would mean for the BRICS nations would it benefit a nation like South Africa ? It also seems there are many other nations looking to join BRICS such as Mexico argentina Uruguay UAE.. thanks
"we're going to try to be nice." Dude is off to a rock solid start!
Yeah, that's a 70° take off :)
When he showed her UA-cam comments and said "Oh Katie" I friggin died lmaoooo
another little known (by the public) problem with funds, money managers start funds with a small amount of money under management. They "nurture" this fund to create truly outstanding returns. Small funds can be nimble. (if they fail, the fund is quietly canceled.) With market-beating performance numbers, the fund is "marketed" to the general market of mutual fund investors. If this is successful, millions perhaps billions flow in. Money undermanagement is the goal. But the bigger the fund becomes, the less nimble it becomes. And the larger, less nimble fund begins to underperform. But the goal was to rapidly increase the money under management. If the goal was beating broad market indexes, they'd keep the fund small. But small funds are not very profitable... When looking at a "hot" fund, pay close attention to how large the fund was when it was creating market-beating returns. And then compare that number to the current size of the fund. A fund that's grown rapidly in size will likely fail to match its previous ROI.
Maybe when they get too big, they should take the Berkshire approach & buy the whole company or a majority stake rather than investing incrementally.
I was invested in ARKK, but I dumped it last year and put the money into an S&P500 index fund when she started making inexplicable moves like YOLOing into Roku. I do not regret it.
LMAO not roku 😆 good tv tho
Cathie Wood came to my notice last year when she remarked that a $10 drop in the iron ore price from $150 to $140 per ton was a disaster for Australian iron ore miners. She didn’t seem to be aware that their production price is around $20.
after accounting for fixed overheads?
production price has nothing to do with it, it just slave wages that noone cares about, farmers sell tomatoes for 5 cents a kilo, but shop sells them at 2$, they need massive margins cause things go bad and opportunity cost of using logistics for something else more profitable than some low margin stuff
@@MostIntelligentMan wtf has that got to do with comment.
@@tyronbasista2729 yeah
@NEUTRALposition
Ah yes. Iron ore and tomatoes, very similar commodities
Patrick knew he was about to Roast Cathies ass so he at least got dressed up for it. Respect
I've been revisiting old videos and can't help but comment that this is probably my favorite suit of yours in the entire wardrobe. Very suave, Patrick!
Curiously, just thinking along similar lines...😂
I made a good couple of years gains just buying the Ark shares after KW bought them, just to sell 3-5 days later.
This is mainly due to investors buying and selling shares in the daily Ark fund email updates.
At one point I was fairly certain the reason for the regular updates was to drive the price up due to people copying the funds transactions, especially the buy signals.
The daily updates were very much a free signals subscription.
Pump & dump
exactly the market is all news driven
I made over $120k doing this in 2020, mainly on TTD, Zoom, and a 3D printing company.
I should’ve switched to shorting though, since I’ve lost a lot this year and have switched to mainly index funds and a few energy stocks.
My strategy for 2023 is to DCA tech companies if I see any rebounding.
Can we unironically just get a video of your outfits and fashion choices and how to dress? You suave in an industry known for sharp dressers
HE'S IRISH. Trust me, being half Irish, you don't want to follow the crowd. Or look English.
>me during the commercial
"he just wears blue suits?"
>the commercial ends
"Wat"
Great thinking, he could make some big $$$ on affiliate links. How about a try on haul Patrick? 🤔
Patrick exhales "class" - particularly when he irons both sides of his shirt.
I wonder if he brings this relaxed but thoughtful energy everywhere in life or just UA-cam?
I invested in ARKK and ARKG often in 2021. Fortunately I had well placed close stops so I hardly lost anything. I learned that if well placed stops get hit frequently, it's a downtrend - whatever anyone says. The big danger IMO is believing it's an uptrend or bottom when it isn't and taking those stops away.
Spot on . Tight stops = if the scenario is perfect it's cool . If it's invaildated by anything ( not really important what ) than we should get out and get in at a better point .
It's much better time to invest in tech now, blood on the streets, banks, inflation fears more blood and dying.
Part of the problem is the cheering financial reporters and outlets. No body ever called her nonsense. There is no consequences for spreading nonsense. The fundamental flaw with an investing mindset is that investing appears to be replacing the idea of working for a living.
this is why it makes sense not to watch too much news or any at all, you literally become retarded, too filled with fear to even act on your obvious instincts. it is a global echochamber that enables stories alike to the kings clothings to play out over and over
Cathie Wood, the master of buying high and selling low.
🤣 😅
She made a lot of money, everybody else though... Not her problem
The master of manipulating idiots to pay her billions from her Simps of Wall Street.
So you have done better than her with your money?
@@jannes9945 It's easy for HER to make money using other people's money with her bullshit lies but yes, everyone has beaten her because she lost to the broad market S&P when including dividends without having to worry about long term performance. That's also not even comparing her against QQQ which should be used when comparing ARK since she invests in basically all tech companies. QQQ absolutely destroyed her fund by a massive margin and is a significantly better investment than ARK. Her fund is terrible by every metric and you're lighting your money on fire by getting anywhere near this woman.
The finance media is partially to blame for this phenomenon. ARKs funds were presented as a winner on most if not all of the large financial publications at the time. Wood was interviewed everywhere and titled an investing genius. If one is a beginning investor (read: young retail folks) such clout might seem enticing. It requires someone with more experience and understanding of the finance market to be able to critically assess claims made by finance media and industry "experts". Same argument goes for crypto as all the way before the plunge of 2022 all the major finance publications were touting crypto as the future and I saw several articles where even women and minorities were tried to be tricked into crypto investing. This from respectable news publications.
thankfully there is now redit and other sources where we retailers constantly advise others to not listen to what corporate media is selling. a name comes to mind... Jim Cramer or something
Media is mostly paid to promote certain products and services
Yea listening to guys hyping stocks ,funds. etc always works out.
When everyone is talking about it, maybe is cause they are selling. Like a car dealer
She's a pump and dump artist.
At least Cathie has provided good entertainment in the financial market.
Jim Cramer is a LOT more entertaining. Ha ha.
🤣
@@hppeng no way, it's SBF.
@@hppeng jim Cramer is a lame boomer
Cathie Wood is surely the serpent from the Garden of Eden.
Like the serpent, she reverses everything. We say that stocks are overpriced, she says they are underpriced. We say inflation is incoming, she says that deflation is incoming. Etc.
And she tempts people to buy stuff that they totally believe is wrong, likely utterly terrible growth stocks that hang by a thread that will most definitely break at some point soon.
And if she's the serpent it explains why she has a beguiling voice and why she hangs around Christians and the Christian Church.
🙂
Established companies may also be "disruptive" without the high-risk outcomes albeit with the smaller returns.
Bought in late 2020, sold in mid 2021 when I saw the writing on the wall and left with a minor profit. Feel very thankful now.
I did the same, but held a little too long, so I lost a bit... Could have been worse.
Even a broken clock is right twice a day. A crap investor will, from time to time, find their stock picks to be flavour of the month (or quarter). The clued up person does not confuse luck with investing skill Patrick you also made a very good point about low volume stocks - michael burry undoubtedly recognised that the value of Arks (and woodfords) portfolio was materially based upon the price the fund itself paid for illiquid small company's stocks - which artificially inflated their value vis a vis the real market price.
Woodfords prediction back in 1990s that the Internet will forever change business was not wrong. But picking stocks is harder - because one has to invest billions in high market cap companies like Exxon or AOL I suppose. Google and AMZN had paltry market cap. Similarly Cathy faces the same problem. She may be right on AI (I am a guy with deep finance experience who also has 18 years experience with machine learning). But to invest in AI is impossible as the total market cap in real AI companies is no more than $200M. Very little pure play AI companies out there. Almost none are publicly traded. Cathy may very well be right, but SEC laws prevent her from making pre-IPO investments.
Mathematicians laugh at the notion of a “good investor”. Trying to predict the actions of 8 billion people. Lol.
@@Annou7la Actually that is the conclusion I kinda arrived at this point investigating investor efficiency lately. Every single piece of evidence seems to point to the direction of index funds with realatively low but - mostly very predictable and stable - returns. The incredible uncerteanty in the world right now, makes even these kind of secure investments somewhat of a risky proposition, the only difference comes out when you consider how risky also, to not invest into anything. (widespread inflation, predicted collapse of multiple pension systems) Catch 22, you have to take some risk and live with it, but the wise thing is to minimize it. (I guess thank you cpt. Obvious)
"Even a broken clock is right twice a day."
One of my favorite expressions.
A broken clock is still a broken clock, and it being 'right' twice a day depends entirely on accident/happenstance. Actually a good analogy for investors, now that I think of it.
The lesson to take away from Archegos and ARKK is to stay far away from religiously named funds and creators who think they've been ordained by God to make money in stocks. Successful trading requires more than paying a tithe.
the separation of church and money
There is always someone on a lucky streak who is then hailed by the media (and now youtubers and tiktokers) as a genius. Michael Burry, Ray Dalio, Bill Ackman, Cathy Wood, Chamath Palihapitiya. Just ignore it, there will always be someone making big news with their latest calls, that's just how randomness works.
You killed it Patrick. I'm watching from a ghetto in Chicago and that was better than the action that happens on a Friday night in the inner city jungle. I always learn so much. Thank you.
Cathy Woods was an unknown, but successful money manager before she started her own firm. Ark was setup to invest in future technology type businesses........and young investors who are basically inexperienced was the target customer........I think Ms. Woods moved away from fundamentals.....used emotion......."this is the future tech".......we invest early in these firms....the returns will be high down the road. Sort of like a ETF for venture capital type firms that have high failure rates...75% to 90%...invest in future tech...but......only a few will make money. I also think when she invested 10 or 15% in a firm...she knew she could get board seats....become an activist investor........another mistake. Patrick did a good of identifyng the mistakes made here. Ms. Woods is walkng away with a lot of money while investors lose money......
@@user-pl5zx4sp5c I think Ms. Woods got too big, made fundamental mistakes in investing, has young inexperienced staff around her. She has the young crowd surrounding her because she is marketing to the same age group....but many of these types of guru investors know in the end index funds with low costs are suitable for most passive investors. The future tech businesses are very interesting.......can be enticing.....but any smart investor would allocate a small percentage of funds to invest in them. Again, Ms. Woods is walking away with lots of money.....this is the key....she's getting wealthy on other peoples money....win or loss....she always makes money
Warren Buffet has made much the same points many years ago but I enjoy the additional information & analysis (and of course the humour) delivered by Mr Boyle.
Every one of his videos is an education.
Both INTJs
Interesting that you mention ProtoLabs. As a mechanical engineer, I've done business with them for over a decade and been happy with their quick-turn machined parts and injection molded parts (they're expensive but FAST). I had no idea what a roller coaster their stock price had experienced over the last 5 years.
I have also never understood the tendency people have to jump on a boat that has already sailed often seemingly expecting infinite exponential growth. It's kinda like Education. More people went to College in the 70's amd 80's and many who "got into Computers" as the internet tool off, made lots of money, SO the general consensus was that everyone should do that. Then all of a sudden there was an abundance of qualified people and more automation scaling down operations. Now the jobs people wanted to avoid because of their relatively lower average salaries like Plumbing, Electrical, Mechanics, etc are making MUCH more than those with a 4+ year degree in the field they are working in...if they are working in it...or at all and a loads of debt. Same with traffic too! One lane starts moving so everyone gets over, backing things up even more and ensuring that lane will stop moving. It's definitely an "natrual/instinctual" reaction it seems ugh.
Yup, timing and recognition of it are key.
In other words, the pricing of a small-cap fund is especially reflexive. What seems like 'gains' is actually just a measure of how much others have invested. They are unrealisable gains because the liquidity is so low.
She also predicted that ride sharing alone would add something like a third to the global gdp by 2030. I guess you could call her an optimist.
In Switzerland we have something called busses and trains. She probably never heard of them
I’d rather invest in nuclear fusion than in Cathie and I see nuclear fusion as a very long shot that might hit its target long after I died.
@Javeec but are they disruptive? And can they synergise with the new hybridised work/life flow?
/s just in case anyone thinks I'm that WeWork guy or something.
Ark is just designed to be negatively correlated so that it can help investors build a diversified portfolio: negatively correlated with what? Yes.
It's like buying a clunker to offset the fact you just bought a new reliable Toyota.
Late but the answer is profit
Yes I'm one of those idiots that got into ARKK et al early in 2021 and just sold it all last week. It was an important lesson I had to learn to not chase the stock while it's rising.
Why did I sell? It was affecting my mental health seeing the loss from it in my portfolio and I needed to push the reset button and clear my head.
Just dca into a diversified low cost index fund. You'll beat the vast majority of investors and never have to worry about some clown lighting your money on fire
@@jasonmaguire7552 I already do that with VTI and VOO.
ARK was a whim I dabbled in with borrowed money. Lesson learnt.
I'm glad you brought up how most investors are groupies regardless of funds. Even SPY has similar investor behavior, buying at peak good times and selling at peak bad times. Very informative and funny at the same time.
I like to call the Tesla acolytes fanboys, but I think I’m gonna switch to groupies…. I like it!
The first video from which I have finally grasped the concept of investing in ETFs and stocks. Simple and clear explanation. Thank you.
The issue I see with some of the penny stocks in ARK is they are 10 year investments starting from scratch, that do great when given meme stock treatment but are very vulnerable to macroeconomic trends. The key to entering them is to completely ignore meme like news events, but shop for the ones that are most under-rated at a given moment.
8:29, Interestingly, this is also true for the morning star rating system. 1 Stars outperform 5 Stars in future years. Return to the mean is brutal.
I come to this channel for the info but stay for the (not so) subtle digs at the influencer/investors and meme stock gurus
Peter Lynch also figured out individual investor returns for the Magellan fund which on average doubled investor's money around every 2.5 years. Namely that over 60% of investors lost money in the fund trying to time the market by buying at peaks and selling at lows.
This channel is a recent find and quickly becoming one of my favorite finance channels! thank you!!
I usually have a general rule that if youtubers are getting hold of it, it's probably time to look for a short rather than actually buying whatever they're talking about
I feel enough attention isn't given to Patrick's deadpan humour. It really stands out in videos focusing on these kinds of subjects. It also helps make the videos more fun, memorable and approachable. As always, hope you keep up the great work Patrick! Thank you for putting out content like this!
Are you kidding? The comment section for all his videos talk about his deadpan humour.
Agreed: it's only noted in every single video he posts. We can do better. (Is there a way to *preemptively* laud it?)
please provide citations of this alleged humour.
This is my favourite financial news/comedy channel
@@deforged you haven't watched much...
Patrick, when are we starting our Stonk Fund? I already have the memes and chicken tendies ready for those client lunches
Only if it includes ape art for a balanced portfolio.
I regret watching this, specifically: I regret that I could only 'like' this excellent post only once - it seems like it deserves more
Kathy is definition of “Artificial Intelligence”
I have no idea how she is still allowed to manage peoples money.
Oh yea, when she sells collects a commission and when she buys, she also collects a commission and don’t forget when she mismanages her clients money she also collects a commission.
What a deal.
you mean, fairies and demons and angels DON'T run the world???
@@tiamat_023 Why are you ruining my dreams of living in a 🧚♀️ land? 😂
Lmfao
Don't forget that lovely annual admin fee too.
Well that’s one way to perceive AI.
Not typical, but it’s semantically adequate I suppose.
This video outlines the #1 reason I do no invest into these groups. As a retailer trader, I face huge hurdles that her behavior creates, but at least when I'm green on a trade, I keep most of it.
Ark typifies the mantra, "Only invest what you can afford to lose"
Or is it only invest only when you afford to lose?
Ark’s technical team seems to have a gap in their ability to assess new technologies and their value propositions. I’m familiar with some of the companies and many of the technologies she’s invested in and her comments seem not optimistic but divorced from a realistic assessment of value. Just because a technological innovation is significant doesn’t mean it has real business potential.
It doesn't matter to them. After they'll invest, Cathie will do her rounds of public promotion of those companies and products to increase stock value like Tesla 4k stock, bitcoin 200k value etc., sell it near the peak and move to another company/stocks...
Excellent reminder to investors to invest profitable by using counter-intuitive, unemotional timing: buy low, sell high. The time to buy is truly when there is blood in the streets.
I like buying to open! That's the shit!
And what if the “blood in the streets” becomes even more bloody? And instead of a dip, you’ve bought a falling knife?
Buying the bottom is too risky, since it may not be the bottom. It’s much better to buy a company after its rebounded at least 20% off the bottom.
@@jeffw8218 If you're not sure if it's the bottom, it probably isn't. Buying a stock for pennies that has previously traded for hundreds of dollars is a good example. There are only two things that can happen: a rebound where you'll get a massive return, or the company fails and you lose everything. You wouldn't put all your money into a stock like that for obvious reasons.
@@joeschmoe6908 Yup, that’s exactly what I said.
@@jeffw8218At that point you may have bigger things to worry about than your investment portfolio…
yeah your absolutely right, Im so stupid to be sucked in after my FOMO so called friend greased me to invest and buy ARK etf. Lesson learned. Yeah disruptive innovation, it’s actually it disrupted my investment.
You need to start putting a comedy tag on your videos… the dry humor is perfect
The Stacie and John bit at 12:21 is hilarious!
John's straight savage
11:48 "What can I say. She's an optimist." Was my favourite bit. That dead pan delivery was on point.
The folded pocket square makes an appearance! The man is a master of economics, guitar AND the art of dapper finery!
It’s kind of incredible what a natural, common mistake it is to chase returns and pull out on dips, considering how it inverts the most basic concept of buying low and selling high.
It's a conflict between human nature and logic. When we see a bunch of people crowding around something we want to see what it is, and when we burn our hand we drop the burning thing. Instinct vs. reason.
I think neither oversimplified strategy is guaranteed to work. You could have sold AMZN when it was rising and bought NIO when its price seemed low, you'd regret in each case.
lmao. my thoughts exactly. its called knee jerqOff reactions. And irrational exuberance service is a multiplier
I think Zillow has the patent on the phrase "Buy high, Sell low"
@@richardochodzki3961 “Seemed low” is immediately way too arbitrary, is the thing.
One way to succeed in stocks is to heavily promote the things you already bought and then tell everyone to sell after you do. You can look like a genius until you don’t.
So basically pump and dump?
Soon after having taken notice fo Cathie Wood for the first time I heard her saying that they would stop holding a certain stock (must have been TSLA) when it's yearly increase in value would drop below 15% it was already clear to me that I never ever would invest a simgle cent in any ARK ETF. I mean, 15% return per year isn't too shabby after all, so why get rid of such a stock if the company behind it does well? Of course such a strategy could be driven by just by sheer greed, but in Cathy Wood's case the presentation of that strategy only was done to trigger potential ETF customer's greed, in other words it was intentionally misleading.
There is a saying in the car business, "If a deal is too good to be true, it usually is.".....
Easy way but less rewarding - jumping from one stock to another regularly based on news flow. Tough job but highly rewarding - stay invested with well-analysed ideas till those become significantly overvalued. I practice “tough job” and had been rewarded significantly.
I buy n sell the same stock with great success since the last 22 yrs as I never had the comfort of only buying and holding as I had limited money.
@@carter3294 The best way to cope with this market is to work with a financial specialist; most individuals have never encountered a bear market, which is why their emotions are all over the place. I've been led by "Casey Allen Gray," who has helped me see that profits can be produced in bull and bear markets alike, and I've been doing well with a 15% monthly ROI.
@Jeremy Walker You can just look her up to know more about her work.
Casey Allen Gray lit my puppy on fire, do not recommend
@@viviangall1786 you had great success but you still ended up with limited money?
Any video which includes "Guy with 2 phones" gets an extra star.
You make finance so entertaining to hear. And that coming from me and I work as a “corporate finance director”
Looove the jacket and the pocket square Mr. Boyle. Thanks as always. 🙌🏾
Buy high, sell low - always been a sure winner!
Studies indicated about 80-85% of a typical alternative investment fund's economics would go to the lead founders, leaving 15-20% was left to compensate the rest of the firm (management, investment, and operations teams). Those compensation studies were published both by academics and HR consultants and were from a decade ago; I don't see why those economics would have changed.
This is the kind of content that should be shown in schools!! Thanks Patrick.
My favorite clip of this video is @ 9:47, where Patrick describes Protolabs as "a 3D printing company"..........while showing a factory filled to the brim with Haas CNC mills. Come for the financial information, stay for the humor.
If most of ARK investors are young, then they learn the lesson early, they have a chance to recover and come out the other side wiser and less gullible. Personally I never understood Wood’s appeal to the social media, chat room types. She looks so Mumsy.
Peter Lynch said the same thing 30 years ago about investors very rarely if ever matching the performance of the funds they invest in. Sorry I just can’t blame the fund manager for investor mistakes on entries and exits. I sold AARK about a year ago, did well and just bought again last week. I just don’t use high percentage buys on volatile stocks. But I like most of AARK’s investments.
Agree. She has managed to at least fund some companies with disruptive technologies that in the traditional markets would have been bought and shut down by the markets they try to disrupt. It's a risky game but it could be beneficial if some of her sectors do thrive.
Thanks so much Patrick! I love your commentary and perspective. Always an education.
Thanks Patrick, for reminding us of the "heads I win, tails you lose" business model of Cathie Wood and others.
Patrick for some reason I didn’t watch your videos for like a year after learning about you, and that was a mistake. You are the funniest financial guy on UA-cam 😂
I thought the same about you
I remember her on tv a while back saying how technology will prevent inflation rising!
Yeah, I had a friend who lost on everything he invested in. I kept telling him, "Buy low, sell high". He never could quite get the knack.
Awesome video ! I’ve never liked the push from Cathie to sell her ETs… particularly her manipulation of the retail investors on social media !
I seem to have a knack for identifying posers. It took me like two seconds to see through her shtick.
What's wrong with buying the dip at 12:50? Wasn't Patrick saying earlier in the video that investing right after a bull run and selling when there's a drawback is the main way people lose money?
Is it that buying the dip blindly in a fundamentally inflated, or poorly managed fund is bad, or is it something else?
In conclusion: ARKK is following a strategy that appears exactly legitimate enough to not be classified as a scam, while effectively being a scam.
I don’t think you got the message
I mean she did perform similarly to the s&p500 which isn't too bad, although you should probably just get the s&p500 instead then. But still as such I wouldn't call her a scam as of yet.
@@TheSteinbitt I don't mind learning :) Can you explain the message?
@@fanban2926 exactly; it's within that range to not be classified as such. But what I see is an aggressive marketing campaign for propping up the stocks, using the inflated price from increased buying pressure as a means to add fuel to that fire. Any rational investor could see that a large portion of the stocks she was pushing were already overvalued, so it's not that she would not be in any way aware. Didn't stop her from allowing her ETFs to expand; even if it was clear that correction would eventually have to occur. She did quite the opposite; she continuously re-asserted that her stocks would contribute to us reaching something akin to a technological singularity and all her ETFs were going to the moon. Would she have sent the same message if it didn't make her hundreds of millions? I'm not saying it's a scam exactly, but it does have a number of scam like qualities.
@@mr-boo Can you please define how you define the word scam? Because it seems to be different from most peoples definition of the word
My brother in law started asking me about how to go about buying bitcoin - I told him not to bother & sold all mine the next day - glad I did 👍👍
Cathie needs to hire someone with some technical analysis training. She’s managed to buy a number of positions at the top and sell at the bottom
I remember the Net Net fund, oh my god, what a plan.
You have some god tier fashion sense sir!! 🙏🏼
Thanks!
Thank You!
Which company had annualized returns of 50% over 5 years?
Not a company, 3x leveraged ETF. Don't know exactly which one, but they are very risky.
@@krdxz I think they would work a lot better if they had low fees, were remade every two weeks, and if one purchased it on a set schedule automatically. The gains could be insane. Unfortunately from what I can tell they are all either daily (tax issues, risk of ruin) or monthly (too slow, doesn't track the index at all), have high fees, and the brokerages disables automatic purchases for these leveraged ETFs manually. Such a shame, I'd love to give one a few bucks every week for five or so years to see if the math checks out. Really, just imagine a low-cost diversified american low/mid cap weekly leveraged fund. A man can dream
@@boldCactuslad I do hold little bit of them, because as you write it looks like math here is on your side. But they are extremely risky, market can go up and down daily but overall staying flat and leveraged ETF would lose money. Not to mention what happens to 3X leveraged ETF when underlying security drops by 33% or more in one day. And of course the fees you mentioned. They are only for investors than can tolerate high risk and understand that they can be wiped out.
I bought ARKK 3 months ago when the media and investors on forums started dumping on them. I’m up over 20% versus 7% SP 500. Obviously I know it’s highly volatile and I don’t invest a lot there.
3 month time horizon is meaningless. The reality is that cathie wood has no great insight into stock investment and anyone who promises annual returns of 40% is either delusional or deceitful
Not a bad strategy.
"but we are going to try to be nice"...
Ooh Patrick
The ARK Innovation ETF always seemed like it was playing roulette betting on certain kinds of tech startups. A handful may hit big, but most will go nowhere.
I put in around $1k in late 2019 on a lark. It is still worth more now, but I've no plans to risk more.
Its performance is suspiciously similar to SPYX
how come I just found out about you. Your analysis is fire!
Gosh. This was so interesting and helpful…thank you so much for this. So good. You’re awesome Patrick!!!!
08:45 Mr. Patrick just touches on it ever so briefly, but for anyone interested in the history of investing and finance, this is a fascinating series of events that allowed Rothschild (pron: "rohd-shield) to make a killing in the London market. There are a number of videos on YT that provide a more detailed look into the events of the time. Highly recommended.
Buy high, sell low, bad. Got it. I will write that down.
Very pleased and thankful that the internet allows us to connect with people such as yourself, Patrick. Best wishes and thank you for educating us!
Héhé. one of my homeruns in 2022 have been a short position on ARRK. When it got to go sideway, since the month of May expiry i have covered the position and have been selling strangles on the ETF. It's a nice underlying to do that as a the ETF price is now relatively low and its IV have been through the roof. I would argue that this strategy (the short ARKK ETF) have been made the same way people that got long ARKK in late 2020. It was sell low, buy lower. It's momentum based. Timing is indeed very hard. You have to set clear predertermined boundaries to get out if you're wrong.
I always find it incredible that people can believe that an economy as large and diversified as the US could grow by 20-30% a year even though it's never grown that fast even during periods of radical technological change such as the invention of computers
I guess the question is whether the past is predictive of the future. There are reasons to think so to some extent, but also reasons to think not. Supposedly, we could be moving towards a period of exponential-like growth due to approaching a technological singularity. We can’t really say whether that is going to happen of course, but we also can’t be certain that it won’t; times change and each moment is uniquely different than all before, even if many parallels can be drawn
The stocks rose not because people thing the economy is growing, they rose because there is more money in the system and people hurry to take advantage of that before anyone else and hopefully bail out leaving others holding the bucket.
We had multiple 10x growth spurts in the past 10000 years, so it wouldnt surprise me if we could do another one.
Great message. Buy the future not the past
As always, great video not just for beginners/new investors trying to enter in the market but also for those who already have decent exposure to funds. If I may, respectfully, one of the thing I would suggest you to include in a a future video is that when we buy a fund, we do not buy the past performance of the fund but rather the investment style of the fund manager. Any fund can have a streak of stellar performance for a few years. But that can also be backed by the market conditions prevailing at that time and might have little to do with the integrity and investment strategy of a fund manager. This is something that specially the retail investors should consider. This might not be applicable for billionaires or fancy electric car manufacturing company owners who might recover all their short term loss by riding the wave of short term speculation.
Nice vdo. 1 major mistake she did was that she kept promoting her stocks and positions on social media which caught the attention of the rest of the Smart money which started Shorting her stocks and funds, this is one reason y her fund and stocks are performing poorly.
This is an excellent video. I was worried it wouldn’t cover the insane (and inane) Cathy predictions but I was not disappointed.
Thank you for the book recommendation, I picked it up along with Ray Dalio's new Principles book. I would love to hear your analysis on some of Dalio's free content on UA-cam, and alternatively your impression of another great video I came across on the Numberphile channel about Jim Simons.
Thanks Adam, I made videos on both Dalio and Simons about a year ago. That Numberphile video was really good too.
12:00 yeah that is optimism at it's finest. We're no closer to AGI now, than we were when Steve Jobs was busy carving a wood case for his Apple-I computer.
Whenever some starts their own fund and hires a lot of young, inexperienced kids, you know what's going on. There are some basic PC programs that run on a laptop and consistently outperformed some of the top guessers for year. That's all they are, guessers. Maybe more educated than most but...
Anyone who’s taken an economics class knew she was out of her mind & that she’d take a major “L” at some point in the near future. Now she can’t keep that same energy she had when she was hyping up her illogical/irrational decisions & she’ll stay quiet/invisible until things turn around, but she’ll also conveniently ignore ALL of the losses she caused because less educated/sophisticated “investors” trusted her
where can you find the graph where money flowed into/out of spy etf?
I remember UA-camrs hyping Ark during the pandemic: "I love Cathie!".
Patrick getting wild with the striped blazer and red pocket square!
Patrick, I believe that it would have been worthwhile including the fact that Michael Burry called this out early, thus giving investors plenty of time to either pull out of the fund or not invest at all. I’m pretty sure he was shorting ( but as usual got in too early) . Anyway he’s a good Canary to have with you if you’re going to work in a coal mine ( stranded asset’s which produced me a nice return).
That only makes sense if you take Burry seriously, which nobody should. He has predicted 473 of the last 2 recessions.
Is a CTA a commodity trading account?
Apparently it's easier to buy near the peak and sell near the low than the other way around.
i love your videos so much and the way you detail every story so thoroughly
When I googled it it says 'ARK isn't backed up by credible ETF research, and that's why it has capitulated under changing market circumstances. The fund's information ratio suggests that it's not managed efficiently '