star managers can be harmful to your investment well being.
And that certainly could apply to Cathie Wood s ARK Invest (ARKK) - who is increasingly looking like a toxic cocktail of Tom Marsico, Kevin Landis, and the Munder Net Net Fund. (See today s Wall Street Journal Heard on the Street column.
For many months/years the financial media has idolized, without many (or really any) questions or skepticism, the leading money managers and leading speculative stocks (notably of a SPAC-kind).
Fawning, exaggerated flattery and
made for TV financial superstars who, to paraphrase my Grandma Koufax.
doesn t
know shit from shinola. Case in point was the CNBC panelist who yesterday possessed, with an abundance of hubris, a new definition of inflation that was so whacky and uninformed I will not repeat what he said again.
Kass: Speculation Has Reached an Interplanetary Level Equities are not going to the moon - the majority of stocks, including the high beta/octane kind, are now falling dangerously back through the atmosphere. Stocks quotes in this article: ARKK
Once again, history rhymes. Yolo investing - you only live once - has been heartedly embraced and even romanticized by too many these days - and, tacitly, that includes the media s endorsements.
The failure to temper and provide warnings of the market s uber speculative cycles are a repeated market feature. Workin hard to get my fill
Everybody wants a thrill
Just one more time