PETRON MALAYSIA REFINING & MARKETING BERHAD
KLSE (MYR): PETRONM (3042)
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4.23
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-0.02 (0.47%)
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Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
dompeilee
11,888 posts
Posted by dompeilee > 2022-06-12 19:19 | Report Abuse
Consolation for those mere mortals who are discouraged by our performance in 2022: "ARKK Has Given Up Almost All Its Pandemic Gains. Should You Sell?"The latest round of inflation figures, which unexpectedly reached a 40-year high, could prove to be the biggest test yet for those who bet on Wood, the Ark Investment Management founder who has long argued that deflation is the bigger risk than accelerating price growth.
Once the darlings of institutional and retail traders alike, Ark’s ETFs — especially its $8.5 billion flagship, ARKK — are suffering as the Federal Reserve raises interest rates, inflation remains elevated and the broader technology sector plunges from sky-high valuations.
ARKK has fallen more than 50% in 2022 alone. On Friday it dropped as much as 7.5% on the latest inflation figures. What’s more, every fund in Wood’s lineup — which track tech themes like robotics and fintech — has tumbled more than 20% this year, and the smaller offerings haven’t benefited from inflows. The decline has wiped out nearly half of Ark’s assets under management, which now stands at just $15.6 billion.
Many of Wood’s followers jumped in at the start of pandemic in 2020, when government stimulus measures, rock bottom interest rates and optimism around tech’s increased role in work and life pushed up prices for Ark’s funds at a dizzying pace.
It turned Wood into a stockpicking superstar, leaving a cadre of loyal investors who’ve held on, hoping for a turnaround if inflation eases. Others might be wondering whether the latest consumer price index data means it’s time to give up and invest the money elsewhere.