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okay so about a month ago i released a few videos talking about the legal battle that arc invest is in with a company called resolute resolute is a a company that effectively was trying to take control of arkhanvest based on a provision in a contract that they had with ark invest and kathy wood from years and years and years ago now kathy wood came on bloomberg front row today this was released just today and talked about this issue that's what i want to talk about in this video i think this is coming to an end you guys and this is straight from kathy wood's mouth so stick around hey guys welcome back to the channel thank you so much for joining me for another video i'm richard allen we talk about stocks on this channel and one of my absolute favorite people in the stock world and a lot of yours as well because she's absolutely brilliant is kathy wood and arc invest her etfs are outperforming almost every other etfs in fact three of her etfs are in the top 10 performing etfs of this last year that's a testament to the research that they are doing over at arc invest and it's an amazing company however there was a battle based on a provision a contract that they had with resolute essentially they had a provision in their contract that would allow resolute if they wanted to to take a majority stake in ark invest and people were freaking worried about it like super super worried about it and i released a few videos talking about it and my last video essentially said hey this may not be anything to worry about and i will let you know once we know more now i want to play a portion of the interview that kathy wood had on bloomberg front row and uh we'll watch it and we'll get a reaction uh together okay so let's go ahead and play this right now kathy in the midst of the incredible year arc is having you're in a legal battle for control of your firm how on earth did that happen well i i will say that has quieted down and we are in negotiations i think all we wanted were negotiations uh and uh we wanted to be fair and square uh with our partner and uh i think that uh i think things will work out i think we're we're well on our way from your perspective does working things out leave control of the firm either in your hands or the hands of you and your partners your colleagues at arc yes it does and if things were to go pear-shaped and for your sake i i hope they don't do you have a nuclear option could you just take the team pack up walk out start a new firm and create new etfs uh i could not i could not you have a non-compete uh and a contractual obligation wow so um this is this is good and bad right i i think a lot of you guys pointed out when this started going on with arc and resolute that resolute essentially runs all the back end stuff for the managing of the etf like the inflow and outflow of money essentially right um and and they have a contractual obligation to work with resolute and resolute was saying hey we're going to take over your business now this happened three days after kathy came out and said hey we're looking for other partners other than resolute and and and tom nash put out a great video about this and i and i i talked about it in my last video on this subject essentially saying look this is a lover's quarrel this is just two companies going into negotiations saying look neither one of us have the upper hand but we want to negotiate let's figure it out he he said that look they don't want kathy to go anywhere and now she just confirmed that she can't go anywhere and a lot of you guys were thinking hey well if kathy goes i go kathy can't go kathy can't go so this isn't a hundred percent worked out yet but i believe it will be and kathy believes it will be um and and essentially i think she they're going to have to exclusively work with resolute for probably a little while longer um that's my guess but uh let's uh let's continue with what uh kathy has to say here okay so both sides then have an interest in coming to the table yes so there you go so both sides have an interest of staying at the table right that's that's a big big deal now resolute they don't manage etfs on their own like i said they do the back end stuff i'm not going to get into the specifics of exactly what they do but they do the back end stuff of running the etfs now resolute is a partner that kathy wood needs but there are other people out there there are other companies out there that kathy could partner with but that seems like it's off the table right now now this saga isn't over but kathy is in control she is still in control it sounds like she's going to continue to be in control but if things go sideways if things go sideways she can't go anywhere so both sides have have this uh this relationship where they have to work things out it seems like right resolute doesn't want to do this without kathy wood and kathy wood it sounds like she can't do this without resolute so we've got to keep that in mind okay guys um i i wanted to bring you this news as quickly as i could it's very exciting news so what do you guys think this is good news right do you agree with me i think this is really really good news i think this saga is finally coming to an end i don't think we know exactly how it's going to play out yet but i'm glad that he asked kathy about this um during this interview because i've been wondering how this was going to go and i had no idea this was going to come up in the interview interview so i try to watch uh pretty much everything that kathy wood talks about because i think she's brilliant and honestly ahead of her time right now so guys thank you so much i have a couple other videos coming out today so stay tuned with the for those thank you so much for joining me for another video as always i think uh i don't know i think we're gonna hit like 21 000 subscribers today which is absolutely crazy so thank you thank you thank you thank you thank you i appreciate you if you didn't already do it click that beautiful red subscribe button down below and i'll see you in another video thanks you
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