THE FINANCE GHOST: Check your Ark for leaks
Let unit economics be your watchword when contemplating growth stocks
25 April 2024 - 05:00
Over the past five years, disciples of Cathie Wood’s Ark Fintech Innovation ETF have had capital growth of 18%. This is a through-the-cycle return that ignores the extraordinary peak-to-trough story that broke many hearts among market newbies during the pandemic. That was a time when media houses were giving Wood far too much airtime to share her nonsense with the world.
For context to that Ark return, “boomer” favourite Berkshire Hathaway has delivered capital growth of nearly 90% over the same period...
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