So Long Cathy and Thanks for the Fish

ARKK is down almost 7% today as the NASDAQ has a tough day. Earlier this year I said she didn’t have any skill and many said I didn’t know statistics. Whelp, now ARKK has the same return as the QQQ over the last two years with 60% more risk.

Here’s the graph comparing ARKK to QQQ:

ARKK soared last year when everyone went after super high beta, low liquidity stocks. Those bets paid off, but it didn’t mean she was skilled.

Whelp, it’s not working any more. Just imagine if Tesla – which is 11% of the portfolio – wasn’t in here.

Bottom line: If you want risk, buy the QQQ and save the 55 bps per year in fees.