Englund

när hon lockade in miljarder till sin kontroversiella investeringsstrategi.  Men när kraschen kom gick hon från världsstjärna till ifrågasatt. Tittar man fem år tillbaka i tiden hade småsparare tjänat mer pengar på att köpa en vanlig indexfond för S&P 500 än att ha Ark Invests fonder. På universitetet USC i sin hemstad träffade hon Arthur Laffer, professor i företagsekonomi och känd som mannen bakom Laffer-kurvan. SvD 27 maj 2022 https://www.svd.se/a/oWgJxm/ark-invests-cathie-wood-forlorar-miljarder-men-vagrar-ge-sig Cathie Wood says her innovation stocks are ‘way undervalued’ and recent fund losses temporary CNBC 17 February 2022 https://englundmacro.blogspot.com/2022/02/cathie-wood-says-her-innovation-stocks.html  

 Research suggests index funds have insulated US equities from threat of a sustained bear market The trillions of dollars that have flooded into passive funds in recent years have inflated valuations, radically reshaping the US stock market  The Shiller p/e measure has risen sharply since 2003, however, and now sits at a record high 38 times. "New opportunities will arise for active market participants and the pendulum will begin to swing back in the other direction.” Steve Johnson FT 27 September 2021 https://www.ft.com/content/994bdda8-b704-4e4c-9b19-4e0021f0b309 NOBODY KNOWS ANYTHING Don’t we still need active management to pick stocks?  What happens if we all just become index investors? https://englundmacro.blogspot.com/2021/09/nobody-knows-anything.html

Holders of the ETF have stampeded to the exits and, just as the ETF critics consistently predicted,  this liquidity mismatch has wreaked havoc with the market. IEAC’s market capitalisation has fallen from over €13bn to €10bn in about a month. FT 25 March 2020