Something funny happened in the market on Thursday: Cathie Wood
The most eagerly awaited report of the entire earnings season, Nvidia’s, more than delivered, and while the chipmaker’s investors benefited, the rest of the market slumped. The blame fell on rising interest rates after better-than-expected economic data.
Cathie Wood, the chief executive and chief investment officer of ARK Invest, gave a broader perspective: “In our view, the search for cash and safety in the equity markets today is as intense as that during the Great Depression in the early 1930s,” she said on the social media service X on Thursday night.
“When fear dissipated, the market broadened out and rewarded risk-taking once again.”
Before going further, the elephant in the room, when mentioning Wood and Nvidia in the same story, is that she famously exited the stock at precisely the wrong time,
selling most of her stake prior to Nvidia’s meteoric ascent on the back of artificial intelligence demand.
Steve Goldstein MarketWatch 24 maj 2024
Kommentarer