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ARK Innovation ETF (NYSE:ARKK) down nearly 12% at one point before the market stabilized. Yet the ARKK fund is now down more than 14% from its February high in less than two weeks, and Seabreeze Partners Management president and ARKK short seller Doug Kass says the worst may be yet to come. Kass Sees Risk: On Tuesday, Kass said ARK fund manager Cathie Wood has been overly aggressive in investing in overvalued, momentum-driven story stocks. The explosion in ARK’s assets under management, including $20 billion in inflows in the last three weeks, has now created an extremely risky situation, he said. ....
Kass: Might This Be the Last Poker Table? When the seats are all inhabited by the sharks, they soon start to devour each other. Stocks quotes in this article: GME, ARKK, TSLA (as Denethor runs by) So passes Denethor, son of Ecthelion That reminds Doug Kass of Seabreeze Partners of the once-hot funds, such as the former Janus Twenty. In every stock market cycle there is a dominant investor who captures the market s zeitgeist by incorporating and reflecting the ideas and beliefs of the times, - Barron s, Up and Down Wall Street ( Today s Stock Mania Differs From 1999 s, but That Might Not Matter) ....