저자: 미상 · 외국인
요약 보기
캐시 우드의 ARK Innovation ETF(ARKK) 전략을 분석한다. ARKK는 2020년 약 150% 상승 후 최근 5년 수익률이 약 1%에 그쳐 버크셔 해서웨이(100%+)에 뒤진다. 주요 보유 종목(테슬라, Roku, Roblox, Coinbase 등)은 대부분 적자 또는 불안정한 수익 구조이며, 캐시 우드는 모멘텀 투자로 2021~2022년 팔란티어를 저점 부근에서 매도했다가 최근 다시 매수 중이다. 발표자 본인은 역발상 턴어라운드 투자를 선호하며 팔란티어, 애플, 메타로 수익을 냈다고 밝힌다.
다듬은 글
throughout 2020 Arc Innovation ETF managed by Kathy Wood went up around 150% and during this time period there were plenty of Articles claiming that Kathy Wood was the new waren Buffett however more recently this is all changed as the arc Innovation ETF has only returned 1% over the course of The Last 5 Years while birkshire Hathaway has provided investors with returns of over 100% so in this video we are going to take a look at Kathy Woods portfolio and go over her strategy as well as dive specifically into paler and how she has invested into the company over the last few years so if you enjoy the video drop a like down below and if you want to see more videos like this one make sure to subscribe Kathy Wood manages a company called ark invest and their largest most notable ETF is the ark Innovation ETF ticker symbol a rkk and on the ark invest website you can find the objectives of this fund Arc is an actively managed ETF that seeks long-term growth of capital by investing under normal circumstances primarily at least 65% of Assets in domestic and foreign Equity Securities of companies that are relevant to the funds investment theme of disruptive innovation and Arc defines disruptive innovation as technology that enables new products or services to potentially change the way the world Works an arc Innovation etf's top 10 Holdings are as follows their number number one position is in Tesla making up 14.4% of the portfolio they also own Roku coming in at 11.35% of the portfolio roblocks at 7% coinbase at 6% block at 4.9% Robin Hood At 4.7% paler at 4.7% crisper Therapeutics at 4.3% Shopify at 3 1/2% and then intellia at 3% the performance of this fund has returned 99.5% since 2014 however more recently over the past 3 years the annualized return of this fund has been 30% and if you think about the macroeconomic conditions that have changed in the last 3 years and the effects that they would have on companies that are in this portfolio it really starts to make a lot of sense for instance let's take a look at Tesla which back in 2021 was trading for over $400 per share however since then the stock has fallen by over 40% and I know a lot of investors in Tesla don't like when you call the company an automaker but at the end of the day that is their primary business currently it's not to say in the future that they couldn't go a different route but right now most of their revenue is coming from selling vehicles and when you have interest rates increased by what we have seen over the course of the last few years it becomes a lot more expensive for consumers to go out and purchase new vehicles and and sure Tesla has done a great job of growing their revenue year-over-year back in 2021 they were putting up a trailing 12-month revenue of $ 41.8 billion that has since grown to $ 95.3 billion however Tesla is seen as a Growth Company especially back in 2021 where their revenue grew by almost 100% year-over-year however that has changed in the last few years their growth has slowed significantly over the last four quarters they have only put up singled digigit Topline Revenue growth and in the first quarter of 2024 they actually saw 8.7% growth year-over-year in terms of their revenue the second issue with The Arc Innovation ETF at least with current macroeconomic conditions and the way the investment Market is going currently is that two of their top three Holdings are unprofitable companies with four of their top five Holdings being companies that are not consistently profitable here we have Roku net income and we can see that over the course of the last 2 years they have been consistently unprofitable roadblock is even worse because it seems like they are getting more and more unprofitable year over-year coinbase has gotten back to profitability in the last three quarters however we have seen this happened before back in 2021 when Bitcoin was going through a boom however when Bitcoin was down and no one wanted to buy any of it we saw them become unprofitable again so the real question here is is this consistent or are they just going going back and forth with the price of Bitcoin and here we have square which again just has a very inconsistent trend on being profitable than unprofitable and then now starting to get back to profitability for me personally I don't love investing into unprofitable companies I want to buy into companies that have proven business models and show that they can be profitable over time Kathy Wood is more betting on these companies reaching profitability and that boosting up the stock price we saw that with Tesla and I think that's what she's hoping for with a lot of the rest of these companies however one other issue with Kathy Wood strategy is she is very much a momentum investor and we'll take a look at that with her investment in paler for some background on paler year to date the stock is up almost 115% in The Last 5 Years it's gone up almost 300% however Kathy Wood was originally buying into the stock back in 2021 it went through a giant dip throughout 2021 and 2022 and bottomed out around $6.50 you would think that the best time to be buying this stock would be throughout 2022 and early 2023 however Kathy Wood has done the exact opposite she bought 19 million shares of paler in 2021 when the stock was trading between $20 and $30 per share and over the course of 2022 she sold out of her entire position most of that coming in the first quarter when she she sold 35 million shares at a price range between $18 and $10 per share she continued to sell over the next few Quarters at levels anywhere from $6 per share all the way up to around $12 per share and this is really the problem you run into with momentum trading when the stock is going up you are buying more shares when the stock starts to Trend down you are selling your shares and this timing can be very critical to whether you're actually making money on your shares or losing money right now Kathy Wood has flipped back to buying into paler as the stock has raced up so much in the last year one thing I would say that Kathy Wood is doing well with these more recent purchases into paler is adjusting position sizing based off the stock price back in May of 2023 she was buying into paler and bought 7 million shares the next quarter she actually lowered this buy down to 3 million shares and as the stock went up even further she lowered her purchases down to 2 million shares and then did this again in the following quarter and now more recently as the stock has continued to go up she has even lowered her purchases down to around 250,000 shares and this is a very different approach than what we saw back in 2021 where she loaded up heavy on paler shares over two quarters and then took a little too long selling out of the shares as the momentum went against her the biggest takeaway from looking at Kathy Wood and how she has invested in the last few years is making sure you understand your strategy and when it works and when it doesn't work for me personally I like investing in turnaround plays my brain is naturally contrarian and when a stock goes up I think it's bound to come back down and when a stock goes down I think it's bound to come back up and you can kind of see that throughout my portfolio and you can see this throughout some of the Investments that I've made in companies like app Apple paler as well as meta these have been some of my best performing Investments with apple I was buying back in 2018 and during that time period there was the trade war between the US and China and this drove Apple stock down in a major way I looked at it as a turnaround that Apple still had a lot of growth in front of it and that is just what has played out that's been the same thing with paler I've returned almost 300% on my investment buying into paler in 22 seeing that AI software was going to be the next growth factor in the AI industry and another play in meta is very similar where the stock was being hurt because investors saw a deep investment into the metaverse and they didn't see it playing out however when I looked at the company I said if they ever turned off this investment they would go back to being an extremely profitable company and that's ultimately what meta has done is they have proven to be very profitable as well as they have still been able to build out their metaverse and some of the positions that I currently hold that I think will play out nicely over the next 5 years are companies like Alibaba and PayPal Alibaba I believe China will see a turnaround in their economy right now they're just seeing a huge hit to the economics behind the business because of the macro conditions throughout the country and PayPal is very similar I think right now the valuation is extremely low and they still have a lot of growth in front of them whether it's bringing people into their ecosystem or just building out some of their payment structure But ultimately what's most important is understanding yourself and what straty works best for you maybe that's something as simple as dollar cost averaging into an S&P 500 ETF a good way of finding your strategy is to actually go in and write it out so feel free in the comment section write what your strategy looks like is it a turnaround investing strategy is it a value investing strategy what are you looking for in companies let me know in the comment section down below but keep in mind don't buy a company just because I bought it don't buy a company just because Kathy would bought it make sure you are doing your own research and looking into companies that meet your risk tolerance as well as your time Horizon with all that said I hope you enjoyed the video if you did drop a like down below and if you want to see more videos like this one make sure to subscribe and as always guys have a wonderful rest of your day and for the joke of the day what do you call a girl in the middle of a tennis court check the com comments down below for the answer thanks for watching
Comments 0