Gmthebeau Posted February 6 Posted February 6 (edited) 1 hour ago, oscarazocar said: I recently came across the Tsai Capital 2023 Q4 letter on Reddit, turns out that the manger, Chris Tsai, is the son of one of the 1960's Go-Go investing OG's, Gerry Tsai. https://tsaicapital.com/files/Tsai-Capital-Annual-Investor-Letter-2023.pdf https://www.nytimes.com/2008/12/28/magazine/28wwln-tsai-t.html Momentum strategies work, but like everything, they don't work all the time. They work best coming out of a bear market when things are cheap and you can get a multi-year run. The key is you have to hop off the train when valuation of the entire market becomes extreme such as 2021. We had a small bear market in 2022 and these types of strategies ramped back up a bit but the market never really got cheap. It really only got to fair value in 2022, so we are back at overvalued today. Its unlikely any momentum strategies will perform well from todays valuation. A lot of these guys call themselves value investors but they aren't. Edited February 6 by Gmthebeau
Gmthebeau Posted February 7 Posted February 7 21 minutes ago, CassiusKing1 said: ARK's only defense mechanism is to DOUBLE DOWN, lol I read somewhere she had sold Palantir recently, then turned around and bought it back after if gapped up 30%. It's almost like they do drugs there.
Parsad Posted February 7 Author Posted February 7 1 hour ago, Gmthebeau said: I read somewhere she had sold Palantir recently, then turned around and bought it back after if gapped up 30%. It's almost like they do drugs there. LOL! Hilarious. If you go to their homepage and see Jordan Belfort's name...! Cheers!
Haryana Posted July 11 Posted July 11 ARK Investment’s Cathie Wood defends strategy in letter to investors https://www.theglobeandmail.com/business/article-ark-investments-cathie-wood-defends-strategy-in-letter-to-investors/ Wood argued many of the fund’s holdings were now in “rare, deep value territory” and poised to benefit disproportionately once interest rate cuts begin. She anticipated another blockbuster period for returns that would resemble the fund’s 152.8% gains during the initial stages of the coronavirus pandemic. “Exiting our strategies now would crystallize losses that lower interest rates and reversions to the mean should transform into meaningful profits during the next few years,” Wood wrote. “We are resolute!”
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now