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The last profitable day for initiating a buy-and-hold position in ARK Innovation was one year, one month and one day ago. Somewhere in the mid-day. Good news, I guess, is that any purchase made after that day is a candidate for tax-loss harvesting.
The amount by which ARK will have to rise for get positions established in early February 2021 out of the red. The fund saw huge inflows in the fourth quarter of 2020 and most of the first quarter of 2021 as investors rushed to buy the previous five years' returns. Which is to say, almost all of ARKK's investors are likely underwater.
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There's an interesting (somewhat semi-pro) piece on Wood's long term record at the anonymous InvestmentWatch blog
. The author's takeaway is
almost all of Cathie’s major outperforming years come during special periods in the market cycle, particularly in the periods following a market crash ... Outside of those special events, Cathie’s funds generally underperform equivalent style peers on a year-by-year basis. She has a history of leaving a fund during or following a period of underperformance, then “rebooting” in another fund. This includes a short stint in a hedge fund that lost over 80% of it’s AUM.
That last caveat shouldn't apply now, but the others are useful reminders.
For what that's worth, David