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ARK Investment’s Cathie Wood defends strategy in letter to investors
Cathie Wood, founder and CEO of ARK Investment Management, defended the strategy of the firm’s money-losing flagship fund, telling investors in a letter released late on Wednesday that its fortunes will reverse when interest rates fall. The ARK Innovation ETF fund has taken investors on a rollercoaster ride in recent years. In a letter posted on ARK’s website, Wood wrote she fully acknowledged “the macro environment and some stock picks have challenged our recent performance.”
Reuters•
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