This ARKK Just Won't Float!

[Gmthebeau]

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

[CassiusKing1]

ARK's only defense mechanism is to DOUBLE DOWN, lol

[Gmthebeau]

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]

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!