Reported 6 months ago
According to a Morningstar analysis, Cathie Wood's Ark Invest has lost an estimated $14.3 billion in wealth over the past decade, making it the top wealth destroyer among investment companies. Despite its popularity in 2020 and 2021 for successful bets on speculative tech companies, Ark Invest's funds suffered significant losses during the 2022 bear market, with its flagship ARKK ETF plunging 67%. Despite this, Ark Invest still manages over $13 billion in assets, indicating that not all investors have abandoned Wood's investment strategy.
Source: YAHOO