Cathie Wood’s true believers are sticking with her

Few money managers have ever lost as much cash yet kept so many investors. So, why is it ARK Investment Management is still seen by many as a horse worth being on?

Sam Potter and Elaine Chen

Feb 9, 2022 – 8.00am

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By the time the mania surrounding ARK Investment Management peaked last year, investors had pumped a staggering $US42 billion into its exchange-traded funds. What’s more incredible: Three-quarters of those inflows are still there today.

After a stellar 2020 in which it outshone just about everyone on Wall Street, ARK has had a brutal 12 months. Its flagship fund, the ARK Innovation ETF, has plunged more than 45 per cent because of its big bets on speculative technology-related companies. The S&P 500 index has returned about 20 per cent over the same period.

Bloomberg Businessweek