저자: CathieWood · 외국인
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결론: 캐시 우드는 중국 주식 비중을 대폭 줄였다가 이후 JD.com·핀둬둬 중심으로 다시 매수하며 정부 정책 수혜 업종을 고르는 전략으로 전환했다고 설명한다. 배경: 2020년 11월 앤트그룹 IPO 무산과 마윈 행보 이후 중국 정부의 규제 강화 신호가 나타나 ARK는 중국 노출을 줄이기 시작했다. 매도 과정: 2021년 4월 말~5월경 플래그십 펀드가 중국 주식 대부분을 정리했다고 밝혔고, 중국 온라인 교육 규제 충격이 밸류에이션을 크게 훼손했다고 평가했다. 밸류에이션 전망: 규제로 인한 예상치 못한 밸류에이션 재조정이 한동안 시장에 압력을 줄 것이라고 봤다. 재매수 전략: 주가 급락 이후 정부가 선호하는 기업을 가려내는 작업을 했고, 3·4선 도시 대상 물류·식료품 기업에 주목했다. 종목: JD.com(JD 로지스틱스 지분 약 70% 보유 언급)을 가장 큰 매수 종목으로 꼽았고, 핀둬둬도 같은 이유로 매수했다. 정부 압박이 큰 기존 보유 종목은 교체했다. 출연자 의견: 캐시 우드는 정부 정책 방향에 맞춘 업종 선택을 강조했다. 진행자 의견: 대규모 매도·재매수 행보는 드라스틱하므로 맹목적 추종은 금물이라고 경고하고, 버핏 파트너 찰리 멍거의 알리바바 매수 사례를 언급하며 자신만의 판단을 강조했다. 리스크: 정부 규제 변화 가능성, 중국 시장 전반의 변동성, 밸류에이션 재평가 지속 가능성이 주요 위험 요인이다.
다듬은 글
hi guys jose bo today we are going to discuss what exactly is katie wood thinking and whether kitty wood is bullish or bearish about chinese stocks few weeks ago she was massively selling off all her chinese stocks and this news has shaken the whole market causing investors to panic and these are some of the examples this and this this and this but just a few weeks later which is right now she actively bought back the chinese stocks that she initially sold why we've been talking uh a lot about chinese stocks and you getting back into it talk to us a little bit about your thinking right here because it was just last month that you pulled back on your exposure and we're selling what changed so why in july 2021 katie would mention that there will be a valuation reset and from a valuation point of view she thinks that these stocks have come down and will probably remain down this massive chinese stock sell-off in the u.s suffered the biggest two days wipeout since 2008.
some large investors have already offloaded their shares and kellywood's flagship art innovation etf cuts its holding of chinese stocks to less than 0.5 in july 2021 from a high 8 percent just a few months ago a large fund manager like kt wood reduced its chinese stock holdings from 8 to 0.5 this is a huge sell-off and causing many retail investors to further panic from this news during the few weeks when chinese stock prices are dropping the media start to share that chinese tech stocks are set for the worst month since the global financial crisis and final warning regarding those who are still holding on to chinese talks and many more negative news i mean is it true that it is the worst month for chinese stocks and what does it mean by final warning if you realize more than 90 percent of the news out there is negative and this is just a way of life because media companies want more viewership and statistics shows that negative news attracts more attention so whenever there is any news we can ask ourselves whether it is just market noises or does it really affect the fundamental of the business so why did katie would massively sell her chinese stocks last month and bought back the same stocks again let's see what she's going to share so we had been pulling out of china um we started last november actually after uh after the uh debacle around the ant group uh ipo and really the banishment it seems of jack ma and we saw increasing uh increasing signs that the government was going to get tough on uh on companies uh we didn't know exac and and companies which were more than unicorns they had exploded onto the scene and they were had become so powerful as had their leaders that they almost seemed to be threatening uh the government at least that seemed to be our take on the government's response so we were a bit cautious pulled away and in fact our flagship fund has moved out of most chinese stocks i think we were out probably late april late may somewhere around there it might have been a little bit later gradually you never know uh 100 of the time i think the online education um really nationalization there was um was a v a real valuation killer for the market so i think that the market's going to be under pressure from a valuation point of view uh from a lot for a long time now because that that sort of thing was so unexpected uh even even from those of us who saw the the government tightening its grip uh on on the country uh so but what we have done we did uh after this last uh bloodbath in the stocks uh we did uh try and sort through okay which companies are uh are doing things the government likes right and what we're seeing are those that are catering to tier three tier four cities logistics groceries so you've seen us by jd.com jd logistics is a big part of jd.com i think they own 70 percent of it uh so that's probably been our biggest purchase as well as some pin duo do for the same reason but if you were to look at what we were doing in those portfolios we were really swapping them out of other names that we think are are going to be continue to be in harm's way or certainly under government pressure so in summary kd wood is saying that she soaked most of the chinese stocks during the bloodbath to sort out which companies and industry is something that the government likes and she did mention that in her opinion jerry.com and pingtoto is in the industry that the government is supporting and she is buying right now what do you think do you agree with katie wood that jd.com and pink toy are in the industry that the chinese government is supporting comment down below to share with me your thoughts so that we can discuss further i am not here to say that the media is bad or whether katie wood is wrong or right in her actions my purpose of this video is to show that katie wood's actions are really drastic and we should never blindly follow her actions last month she massively sold her chinese stocks and this month she bought back some of the same stocks i mean we may or may not agree with katie wood but we need to form our own opinion and proper investment plan to follow through for example when most of the chinese stocks are crashing business partner of warren buffett charlie manga is buying alibaba stock because he formed his own opinion and investment plan despite all the market noises in the media i hope you benefit from this sharing subscribe to this channel so that i'm able to share with you more in the next video watch this video right now to discover why you should not buy alibaba stock yeah why you should not buy i will see you there
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