Before we get to earnings, today is the 10th anniversary of the formation of ArkInvest whose famous leader, Cathie D. Wood, appears in the media 365 days a year. Why? Because she had a really good 2021. That’s why.
Over that decade, here’s how ARKK has performed versus the plain old boring simple QQQ. Simply stated, it has vastly, vastly, VASTLY under-performed………..well…………everything. Which, again, is why Ms. Wood can appear on national television any time she wants.
Looking at the vast few years, the contrast is even more stark. Here’s ARKK compared, once again, to plain old boring QQQ. She’s down 70%. The NASDAQ is up massively. She should be embarrassed. But she’s not.
Know how I know?
Because, in case I didn’t mention it, she’s constantly on the television, in magazines, and in newspapers. Trust me, if she was a man with this kind of performance, she couldn’t get on the local high school’s podcast.
As for earnings, AMZN is out, and for now it has popped higher.
Apple blew the doors off with their earnings, but the results are rendering a massive yawn.
It’s often premature to even think about these results on the heels of earnings. Better to wait until the conference call is over and folks have had a chance to digest the news. Yesterday, for instance, MSFT blasted higher after their report came out. Errr, you can see what happened next.
Anyway, that’s the end of October, everyone, and we kick off November 1st with a major jobs report an hour before the opening bell.
Good luck, and again, happy 10th fund birthday to Cathie D!
