Gross called out the middling performance of Cathie Wood’s ARK Innovation ETF.
Billionaire “bond king” Bill Gross ripped CNBC and other business media outlets for their fawning coverage of tech investor Cathie Wood – despite her fund’s middling performance in the last few years.estimated fortune of $1.6 billion“CNBC/media idolatry of Cathie Wood is absurd,” Gross tweeted on Monday evening. “Over past 5 years QQQ has outperformed ARKK by nearly 100%.”
Meanwhile, Wood’s ARK Innovation ETF, the flagship fund offered by her firm ARK Investment Management, fell in value by more than 4% over the same period through Tuesday trading. Companies listed on Wood’s ETF include Tesla, its largest holding, as well as lesser-known tech firms such as Zoom, Roku, Coinbase and Shopify.
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