🔒 Alec Hogg: Magda wants to eat Cathie Wood’s lunch

  • These are not the best of times for 2020’s hottest money manager, Cathie Wood (above) of ARK. Her “disruptive innovation” funds, built on high conviction bets (Tesla 11% of portfolio) pulled in tens of billions from investors. But the funds are now struggling to beat the anchor of size (see above). Our partners at The Wall Street Journal outline her challenges in detail this morning in a piece headlined ARK wasn’t built for a flood.
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  • With other things on her mind, Cathie is unlikely to have registered that Sygnia founder Magda Wierzycka is keen to eat her lunch. On a cracking episode of the BizNews Power Hour last night, Magda told us she is going head-to-head with Ms Wood by globally launching themed-ETFs that target identical investors. Magda will be a keynote speaker at the BizNews Investment conference in September.
  • Another high profile investment personality, hedge fund manager Ray Dalio, headlined yesterday’s WSJ’s Future of Everything event. His excellent presentation focused on the risks of inflation and US dollar devaluation. The man who runs the world’s biggest hedge fund offered a clear view on where the stock market is right now – we’re in a bubble, but one caused by the US Fed’s printing presses running so hard that “you lose the value of money”. In other words, prices are high but will go higher still.
  • Another excellent piece from the WSJ today is James Mackintosh’s analysis of how to protect your wealth against rising prices – ie how to build an inflation-proof portfolio. Click here to read why it’s not as easy as you might think. Also from our partners today is the piece by the inimitable Jason Zweig published in full below. It argues why financial advisors have never been more valuable than right now. If you agree, you’ll enjoy our Wealth Advisors section where financial advisors express their views.

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