Cathie Wood’s Ark Investment Management named its first “chief futurist” as the firm’s innovation-themed ETFs struggle in this year’s volatile market.
“What Cathie is selling is the future,” said Eric Balchunas, senior ETF analyst at Bloomberg Intelligence. Chief futurist is a “new kind of flashy title”. While some fans are also starting to lose faith, with ARKK in August seeing its biggest monthly outflow in nearly a year, the flagship fund has still seen net positive flows this year.
Huh? So you can still make money frontrunning people?
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: