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“ARK Investment Management LLC, said Wednesday that it will permanently close its New York headquarters at the end of the month and move to St. Petersburg, Fla., on Nov. 1. Known for its line of exchange-traded funds that invest in companies deemed disruptive and innovative in their industries, ARK said it aims to deepen ties with local entrepreneurs and technology startups by also building an innovation center.
‘ARK is not a traditional Wall Street asset management firm and we are looking forward to breaking the mold further by relocating to St. Petersburg, a city investing in technology, science, and innovation,’ Ms. Wood said in a statement.”
This is comical... "a city investing in technology, science, and innovation." Why not just be honest about it...
There my be another reason to move the ARK there. - Here
I don't think this ARK will stay afloat in any type of deluge.
Surprisingly little comment on the board re ARK. It’s outside my risk parameters (I think), but Wood makes a pretty good case for the approach (and to her credit has been buying DFKG). Her funds are not for the faint of heart or those who get shaken by a down quarter or two. She’s rolling the dice. But likely some will pay out handsomely for those who stay with her. I get the sense with Wood that this is practically a religion with her (no pun on ARK intended).
@hank - I like her management style, 'some' of her funds, her thought process and her methodology but I am currently out of those 'some' funds I held. I also do not hold any of her competitors funds in the same vein. A correction might put me back there but we'll see about that when and if it happens. As for where she sets up shop, who gives a rats patootie.
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