Ep 31: Larry Swedroe on Cathie Wood's stricken ARK fund

This time last year it seemed that Cathie Wood could do no wrong. 12 months on, America’s most high-profile active fund manager is struggling to maintain her reputation as one of the most successful stockpickers of the last few years.Her flagship ARK Innovation ETF ended 2021 in a 40% drawdown that only worsened to nearly 50% in the first few days of January.So what should investors make of it? Was Cathie Wood’s stellar outperformance in 2020 down to skill or luck, or a combination of the two? What, if anything, should ARK investors do now? Do ARK’s current problems tell us anything about the state of the global equity markets? And what are the lessons to learn?TEBI’s founding editor ROBIN POWELL has been put putting all of these questions to LARRY SWEDROE.