저자: Kevin · 외국인
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캐시 우드가 마이클 버리의 ARKK 공매도 베팅과 그의 비판에 트위터로 반박한 내용을 다룸. 우드는 인플레이션 정점 이후 혁신주가 다시 상승할 것이라 주장하고, 상품가격 하락과 기술 기반 디플레이션을 근거로 든다. 진행자는 버리의 과거 적중을 언급하며 우드가 현재 그의 펀더멘털 이해를 부정한 것을 짚고, 경기침체 시 혁신주로 자금이 몰린다는 우드의 견해에는 동의하지 않는다고 말함. 중국 규제가 혁신에 타격을 준다는 내용도 포함.
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oh wait wait a second here kathy wood hits back at michael murray so we heard that michael bury is shorting kathy woods ark invest which is not a surprise we have seen the short interest percentage skyrocket at uh throughout this year of kathy woods arc funds specifically well arc k arc innovation in fact if we go to the let's go to the year-to-date chart uh on arc k here we could see just above my head here this chart showing rk basically going from next to no short to uh as high as 13.86 percent short at one point presently sitting at 12.96 percent short on rk it's it's really if you want a short innovation you want to short high p e stocks kathy's a great one to shore if that's what you wanted to do so let's see how kathy responded kathy wood laid out her case for why her firm has for months been pairing holdings tied to chinese tech holdings okay well that's i want to hear the response to the michael murray part not the i was right i'm selling chinese stocks the superstar fund manager also rebutted investor michael berry there we go after he gets together bet against here we go i think that china u.s saber rattling which has intensified under this administration a surprise to me is bringing more activity back home okay yes this is true we thought conventional wisdom was that chinese us relations would actually be better under biden than under trump and they've actually been worse which it was a big surprise so yeah that is true that was a surprise uh all right then uh the supply chain reorganization is going to be positive for the u.s and it'll be somewhat negative for china in a tweet tuesday she also hit back at buri the big short uh or who got famous through the the big short in 2000 you know in the 2008 financial crisis but anyway okay here let's see owns a bearish put contract against 235 000 shares of arc innovation wood said in her tweet that she doesn't think bury understands the fundamentals that are creating explosive growth and investment opportunities in the innovation space did she really say that she said she doesn't she doesn't think he understands that i mean i personally think he understands it i think he's trying to go in and out you know he's trying to trade this stuff uh he's back on twitter by the way i guess is he no i don't know if that's actually him because he keeps no because usually i don't know he keeps deleting his twitter let's go to kathy i'm gonna assume that's not him uh okay so kathy yes she did look at this uh hold on this is the second row of tweets here oh we've we've got a we've got a lot of tweets here let's break this down here look at this most bears seem to believe that inflation will continue to accelerate shortening investment time horizons and destroying valuations despite what we believe has been a supply chain related short-term burst in inflation both equities and bonds have appreciated since march uh and okay unlike the tech and telecom bubble this equity bull market has broadened beyond the innovation strategies that boomed last year to value and other stocks that trailed okay she's made this argument before basically she's saying look when when you start seeing the rally go beyond innovation to other stocks like target or simon property group or cheesecake factory or whatever right then that's a sign that when those bubble up then then soon you'll be able to have this cycle back towards tech and innovation bubbling up again likely more than the others had but that these things go in waves this makes sense the bull market has also strengthened setting the stage for what we believe will be another leg up in innovation strategies which obviously right now are kind of in the pooper the last six months have been very difficult for innovation strategies since february you know arc has had pain there's been a lot of pain since mid-february the equity market is likely to reward disruptive innovation strategies once again when headline inflation breaks or fears of recession increase well that's interesting these are two things that she's saying she thinks that uh we're going to see innovation do well again once we see that inflection point downwards in inflation which i've regularly talked about september to october readings which would be october to november for that downward inflection but delta could really delay this uh or fears of recession so in other words she's saying maybe innovation stocks could be a flight to safety i actually have to disagree with her because i think folks fear the potential of higher inflation and a recession which if you have a fear of higher inflation and a recession i don't know that innovation is going to be your destination uh and that's certainly not what the market's pricing in right now so i kind of disagree with the second part of the statement here anyway if the bond market is correct one or both will be obvious during the next three to six months what she's saying here is look at the 10-year yield the 10-year yields at 1.24 the bond market is obviously pricing in and the bond market could be giving you a heads-up of this of this uh inflection point coming since mid-may a number of commodity prices have been breaking down okay so now she's referencing this this sort of collapse in commodities which commodities had been seen as this this uh inflection point in inflation to the upside and that uh now we're actually seeing commodity prices fall and that's clearly an indication that inflation is on its way down this is uh this is you know something uh that kathy would believe now uh this is also true uh we talked about this about two weeks ago that uh car sales are flattening or declining the bloomberg she clearly reads bloomberg regularly because bloomberg was talking about this like two weeks ago uh so this is true uh the deflation in commodity prices is cyclical but is adding to cyclical secular forces that cause uh caused by technologically dis uh enable disorder okay basically what she's saying is look commodity prices go up and down but because they're going down now you're seeing them go down potentially with uh the same time as you have deflationary forces from technology and innovation bringing prices down uh this is her same this is her arguments about deflation the different forms of deflation good deflation which is innovation or bad deflation which is basically like hey you guys are gonna go bankrupt because your products are old and you suck and now you have to lower prices because of that uh and now you're going to go out of business right these these are the same arguments we've heard her make many many many a time which is fine these are fine so far i agree with everything she's saying uh and a lot of this has been written on the wall and written on bloomberg for a few weeks now uh with the exception of this this comment here that she believes innovation will do well if recession fears increase i don't believe in this one i do believe in the headline inflation breaking because i i don't see if innovation right now is a flight to safety asset i just don't see the market believing that so if we are correct gdp and revenue growth will diminish until the opportunities in nascent technologies begin to move macro needles okay now what she's saying is we're going to see a softening in in earnings or revenues at companies until the little tiny little baby companies like nano dimensions start actually making some real money some big boy money got it i don't know about that i think it's gonna be a while for a nano dimension moving the needle in our view the seats for innovation explosion that arc invest is dedicated to researching were planted 20 years during the 20 years ending with the tech and telecom bus yeah so she's made this argument before that basically uh we're not in another a dot-com bubble nah that that now we actually have the correct technology for a real bubble uh i'm sorry not for a real bubble for real explosive growth uh that that is real versus bubble which is generally associated with fake anyway to his credit michael barry made a great call based on fundamentals and recognized the collab calamity brewing in the housing mortgage market i do not believe that he understands the fundamentals that are creating explosive growth and investment opportunities in the innovation space no that's a that's a kathy slam here she's basically saying like the only reason people care about michael bury is because he was right one time during the great recession and it was a big right he did well it was great the fundamentals were screaming red flags everywhere but by her saying this she is flipping the script basically saying he's not understanding the fundamentals today and therefore he's wrong she's saying look he was right then about fundamentals but he's wrong now kind of interesting kind of interesting this is this is a good kathy slam here kathy's going defensive i love it oh this is like it's like uh financial people fighting they exchange tweets that's great uh yeah okay that that was that was the whole tweet uh trend uh thread there rather so very interesting nice kathy wood sort of slap back here at uh michael bury again i uh and we've covered a lot of these things before so not a lot of surprises uh in in her tweet here but uh we might give this a brief listen here it's only a minute long uh not a lot of surprises of what she's saying we've covered a lot of this before it is very interesting though that she's essentially bluntly saying michael berry was right about the fundamentals in the past but he's dead wrong right now she is digging her heels in very interesting i do disagree with her though that people are going to flee to innovation stocks in a recessionary uh as recessionary fears increase i i think that's that's not correct but uh who knows we can have a difference of opinion um okay let's see here china's crackdown stunts innovation okay this so this video clip is really just going to talk about the chinese crackdown stunning innovation okay we know this we already kind of got our bottom line from tweets here so very interesting that's kathy wood's slap bag for you now remember take a look at that link down below to get yourself 40 off on joining me on our private or in our private market live streams where we do a lot of q a so folks thank you very much for being here i will see you all in the next live stream you
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