Ark Funds

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TheoLeo
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Re: Ark Funds

Post by TheoLeo »

pkcrafter wrote: Mon Oct 19, 2020 11:33 am Ark: so now we can use a fund to chase performance. What a novel idea. I predict these funds will not sustain current returns.

:thumbsdown


Paul
They seem like the ultimate hype funds. If you buy, you definitely need an exit strategy or you will be left holding the bag.
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Stanczyk
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Re: Ark Funds

Post by Stanczyk »

How about this - ARK funds as a way to further diversify portfolio. Any thoughts?

This is what I see on my watchlist today:
ARKF +0.45%
ARKK +0.74%
ARKW +0.75%
QQQ -0.63%
SP500 -0.56%

I have noticed this on multiple occasions on the past.
Chicken Little
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Re: Ark Funds

Post by Chicken Little »

TheoLeo wrote: Mon Oct 19, 2020 12:42 pmThey seem like the ultimate hype funds. If you buy, you definitely need an exit strategy or you will be left holding the bag.
I don’t own any ARK, but they seem pretty solid from what I can tell.

I would extend your recommendation to virtually any strategy that gooses returns.

Gotta be ready to bail if the market turns.
TheoLeo
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Re: Ark Funds

Post by TheoLeo »

Chicken Little wrote: Mon Oct 19, 2020 12:40 pm
TheoLeo wrote: Mon Oct 19, 2020 12:34 pm
Chicken Little wrote: Mon Oct 19, 2020 7:10 am As far as genetic testing, Illumina just repatriated Grail, and they may very well have a test that everybody on here will get every year?
To test for what? If there are signs for congenital disease, people already get tested for that. If you have cancer, your cancer cells are screened for relevant mutations already. And for preventative cancer screening, I am very sceptictical since it is highly unlikely you will test exactly that cell/tissue that has a driving mutation that is known to likely cause cancer.
Cell-free nucleic acids as kind of an early, pan-cancer detection, but don’t take my word for it...

https://grail.com/science/

https://medcitynews.com/2020/09/illumin ... il-for-8b/
Thanks for the reply. Of course I dont know the future either, I just think it is unlikely "liquid biopsies" will ever be used for cancer screening. I am sure there will be more clinical studies on it for a long time, though. We already have established non-genetic tumor markers, they are just not usefull for cancer screening as they are neither sensitive enough nor specific enough and I think the same will be true for genetic markers.
atdharris
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Re: Ark Funds

Post by atdharris »

I own a little bit of their "innovation" fund. So far it has obviously performed well. We'll see if it keeps it up. I know the ER is on the higher side, but I want to have a small portion of my portfolio to "disrupting" companies.
TheoLeo
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Re: Ark Funds

Post by TheoLeo »

atdharris wrote: Mon Oct 19, 2020 1:08 pm I own a little bit of their "innovation" fund. So far it has obviously performed well. We'll see if it keeps it up. I know the ER is on the higher side, but I want to have a small portion of my portfolio to "disrupting" companies.
Why not hold disruptive companies according to their market cap in a total market fund?
Last edited by TheoLeo on Mon Oct 19, 2020 2:22 pm, edited 1 time in total.
HippoSir
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Re: Ark Funds

Post by HippoSir »

I got a kick out of a recent ad of theirs:

https://twitter.com/ARKInvest/status/13 ... 8189012992

Sounds like we should all move to holding just ARK ETFs. :beer
Register44
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Re: Ark Funds

Post by Register44 »

:arrow:
Last edited by Register44 on Mon Jan 11, 2021 8:36 pm, edited 1 time in total.
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Nicolas
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Re: Ark Funds

Post by Nicolas »

HippoSir wrote: Mon Oct 19, 2020 2:14 pm I got a kick out of a recent ad of theirs:

https://twitter.com/ARKInvest/status/13 ... 8189012992

Sounds like we should all move to holding just ARK ETFs. :beer
Funny ad, but a bit arrogant, no?
Register44
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Re: Ark Funds

Post by Register44 »

:arrow:
Last edited by Register44 on Mon Jan 11, 2021 8:36 pm, edited 1 time in total.
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Nicolas
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Re: Ark Funds

Post by Nicolas »

Here’s a nice article about the ARK funds that was published on Morningstar yesterday: A Risky, But Promising, Innovation ETF.
occambogle
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Re: Ark Funds

Post by occambogle »

Anyone see this about Resolute trying to take majority control of ARK? Any thoughts? I don't really understand what is going on but it seems a little worrying, in the sense of don't mess with something that's working well....

https://www.reddit.com/r/ETFs/comments/ ... ip_of_ark/
https://www.prnewswire.com/news-release ... 59894.html
https://www.institutionalinvestor.com/a ... shing-Back
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midareff
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Re: Ark Funds

Post by midareff »

TheTimeLord wrote: Wed Sep 02, 2020 8:13 am
ivk5 wrote: Wed Sep 02, 2020 4:41 am
langlands wrote: Tue Sep 01, 2020 10:34 pm But it seems the TSLA bull thesis is partially that Musk is a messiah and perhaps true believers can identify those.
True believers have identified 10 of the last 5 messiahs.
Do you really need to correctly identify more than 1?
If the other 9 are Jamestown creators, YES.
retire2022
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Re: Ark Funds

Post by retire2022 »

op

I am invested in 28% VGT of 2.09 million and not ARK, I am not convinced 0.75% is worth it.

If you want to watch this video you will probably reconsider VGT.

https://www.youtube.com/watch?v=HeWLcsgBpgM
Last edited by retire2022 on Sat Nov 28, 2020 2:33 pm, edited 1 time in total.
WhiteMaxima
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Re: Ark Funds

Post by WhiteMaxima »

Not a fan of ARk fund. If I did, I would do in Roth.
occambogle
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Re: Ark Funds

Post by occambogle »

Just an interesting read about ARK and Cathie Wood: https://www.coindesk.com/cathie-wood-mo ... ntial-2020
I'm still a little concerned about this whole Resolute situation and they wouldn't touch the topic on the recent market webinar.
But their performance is still going strong, ARKG in particular has been killing it recently.
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MinnGuyInvesting
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Re: Ark Funds

Post by MinnGuyInvesting »

I posted in another thread as well.
I move about a third of my portfolio into the various ARK funds.

The fee is small for the potential above market returns.
I don't think it's an accident they find companies who could be experiencing great growth as they turn from non-profitable to profitable.
Index ETF's 41% |ARK Funds 39% | AAPL 5% | TSLA 3% | GOOGL 1% | AMZN 1% |Other stocks 5% | BTC/ETH 5% | | | Tracking my porfolio: https://www.bogleheads.org/forum/viewtopic.php?p=5745280#p5745280
occambogle
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Re: Ark Funds

Post by occambogle »

Of course you can get the same info on the ARK site, but this 3rd-party website keeps track of holdings in a nicer format with links to the individual company holdings:

https://cathiesark.com/
TheoLeo
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Re: Ark Funds

Post by TheoLeo »

Did anyone else see the bloomberg interview with Cathie Wood today? She was basically telling investors that now is a good time to take some profit and "keep some powder dry" even though her fund stays fully invested at all times.
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abuss368
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Re: Ark Funds

Post by abuss368 »

Stanczyk wrote: Tue Sep 01, 2020 7:57 pm Are you fans of Ark funds? If so which do you own and what percentage of your portfolio do these holdings constitute?
Do you consider these investments or speculation/play money?
A lot of excellent press for sure. Long term? Who knows. Reversion to the mean perhaps.
John C. Bogle: “Simplicity is the master key to financial success."
dru808
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Re: Ark Funds

Post by dru808 »

TheoLeo wrote: Fri Dec 18, 2020 6:02 pm Did anyone else see the bloomberg interview with Cathie Wood today? She was basically telling investors that now is a good time to take some profit and "keep some powder dry" even though her fund stays fully invested at all times.
They take profit regularly.
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40x15y
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Re: Ark Funds

Post by 40x15y »

Cathie Wood has a nice story about disruptive innovation and exponential growth. However when I compare QLD (2x QQQ) to ARKK they just seem to follow each other.

She's a favorite now that her fund has "outperformed" against the lowly SPY and QQQ.

Questioning this relationship on fintwit though, provokes ARK and growth stocks die hard fans.

Just how much can growth grow or is this possibly the peak of growth stocks cycle as TSLA gets added to S&P (and being dumped on passive investors). I haven't experienced the cycles of value and growth so I'm keen to understand. :beer
000
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Re: Ark Funds

Post by 000 »

40x15y wrote: Sat Dec 19, 2020 4:15 am Cathie Wood has a nice story about disruptive innovation and exponential growth. However when I compare QLD (2x QQQ) to ARKK they just seem to follow each other.

She's a favorite now that her fund has "outperformed" against the lowly SPY and QQQ.

Questioning this relationship on fintwit though, provokes ARK and growth stocks die hard fans.

Just how much can growth grow or is this possibly the peak of growth stocks cycle as TSLA gets added to S&P (and being dumped on passive investors). I haven't experienced the cycles of value and growth so I'm keen to understand. :beer
My personal opinion is that we are seeing the last gasps of euphoria. At this point I think most of the people out of growth stocks will stay out and not get in at any price.
rockstar
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Re: Ark Funds

Post by rockstar »

What is driving all of the discussion about Ark funds here lately?
000
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Re: Ark Funds

Post by 000 »

rockstar wrote: Sat Dec 19, 2020 5:54 pm What is driving all of the discussion about Ark funds here lately?
FOMO
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Re: Ark Funds

Post by abuss368 »

000 wrote: Sat Dec 19, 2020 5:59 pm
rockstar wrote: Sat Dec 19, 2020 5:54 pm What is driving all of the discussion about Ark funds here lately?
FOMO
Remember Munder funds in the 90s? “Munder Net Net” fund was one of the HUGE high flyers!

Own index funds.
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zaboomafoozarg
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Re: Ark Funds

Post by zaboomafoozarg »

The buzz about Ark reminds me a little of AQR a few years ago.
am
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Re: Ark Funds

Post by am »

rockstar wrote: Sat Dec 19, 2020 5:54 pm What is driving all of the discussion about Ark funds here lately?
Performance chasing, just like recent bitcoin threads and other threads that pop up about hot assets. Dumping foreign stocks threads now because they’re underperforming. Have seen it every year since I joined. Those hot and cold assets flip rolls and you see the opposite threads :D Investing is simple but not easy.
HenrySouthernCal
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Re: Ark Funds

Post by HenrySouthernCal »

ARK funds reminds me the hot Janus funds of late 1990s and 2000. Many current younger people don't even know the name Janus any more. Janus 20, Janus World and Janus Life Science are the 3 hot funds I remember from 2000 time. The similarity to current Ark funds:
1) so called break-out new technology
2) have consistent large inflow to the funds to self buy up the prices
3) a large crowd following them to buy what in their holdings

It also reminds me the Bill Miller's Legg Mason value fund. It had beaten S&P so many years, then in 2008 it had an all-star portfolio lineup of financial troubled companies: Lehman, Country-wide financial etc. Younger generations of people don't even know there was a Legg Mason value ever existed.
retire2022
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Re: Ark Funds

Post by retire2022 »

HenrySouthernCal wrote: Sun Dec 20, 2020 8:30 pm ARK funds reminds me the hot Janus funds of late 1990s and 2000. Many current younger people don't even know the name Janus any more. Janus 20, Janus World and Janus Life Science are the 3 hot funds I remember from 2000 time. The similarity to current Ark funds:
1) so called break-out new technology
2) have consistent large inflow to the funds to self buy up the prices
3) a large crowd following them to buy what in their holdings

It also reminds me the Bill Miller's Legg Mason value fund. It had beaten S&P so many years, then in 2008 it had an all-star portfolio lineup of financial troubled companies: Lehman, Country-wide financial etc. Younger generations of people don't even know there was a Legg Mason value ever existed.
Henry

I remember them very well, this year I transferred my last 5K Janus Henderson Global Technology D Shares, out of Traditional IRA to Vanguard.

I gave up my Janus Life Time account maintenance fee of $100.

I had Janus Mercury, Enterprise, Overseas fund, and Global Technology.

my 134k of 32 year contributions, 1987-2020 is currently all in my Roth IRA on Vanguard Information Technology (VGT) 1807 shares

Thomas Bailey ran a tight ship, I agree on the comparison, and of course under performance since the first internet boom (2000).

edit Catherie Woods expects a correction: https://www.youtube.com/watch?v=kfhgbZBWgBE
Busdrvr
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Re: Ark Funds

Post by Busdrvr »

“Cathie Wood expects a correction”

Well it seems that Ark ETFs are indeed correcting over the last several days. Down substantially over the last few days while the broader indexes have been going up. Yesterday it was reported that she was able to repurchase the agreement that would have allowed her distributor to take control of ARK Invest.

So what would cause such a large disparity over the last few sessions? QQQ is roughly even today and ArkGenomic is down 7%+.
Is it possible that selling /profit taking prior to year end could affect an ETF so much? Indeed ARKW has provided 150% gains ytd.
occambogle
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Re: Ark Funds

Post by occambogle »

ARKG is down because largely because Arcturus is down 50+% on "disappointing" virus vaccine testing.... I was reading.
Also I could be wrong but I think the ARK etfs are ex-dividend today, e.g. https://www.dividendinvestor.com/divide ... tail/arkg/
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topper1296
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Re: Ark Funds

Post by topper1296 »

I bought some for my IRA and will probably buy a little more with my 2021 IRA contribution. ARKK is my only actively managed fund/ETF.
langlands
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Re: Ark Funds

Post by langlands »

Busdrvr wrote: Tue Dec 29, 2020 12:14 pm “Cathie Wood expects a correction”

Well it seems that Ark ETFs are indeed correcting over the last several days. Down substantially over the last few days while the broader indexes have been going up. Yesterday it was reported that she was able to repurchase the agreement that would have allowed her distributor to take control of ARK Invest.

So what would cause such a large disparity over the last few sessions? QQQ is roughly even today and ArkGenomic is down 7%+.
Is it possible that selling /profit taking prior to year end could affect an ETF so much? Indeed ARKW has provided 150% gains ytd.
No. Arcturus Therapeutics is down 50% and many other genomics companies are down around 10%. ARKG isn't big enough that selling in the ETF would cause the underlying assets to tank. It's the reverse.

Also, the Russell is down 1.7% today. Any fund that is overweight small is having a bad day.
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nedsaid
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Re: Ark Funds

Post by nedsaid »

HenrySouthernCal wrote: Sun Dec 20, 2020 8:30 pm ARK funds reminds me the hot Janus funds of late 1990s and 2000. Many current younger people don't even know the name Janus any more. Janus 20, Janus World and Janus Life Science are the 3 hot funds I remember from 2000 time. The similarity to current Ark funds:
1) so called break-out new technology
2) have consistent large inflow to the funds to self buy up the prices
3) a large crowd following them to buy what in their holdings

It also reminds me the Bill Miller's Legg Mason value fund. It had beaten S&P so many years, then in 2008 it had an all-star portfolio lineup of financial troubled companies: Lehman, Country-wide financial etc. Younger generations of people don't even know there was a Legg Mason value ever existed.
Yes, I do remember the Janus Funds. I remember Bill Miller too. I must be getting old. :wink:

My take on the ARK Funds is that they mostly have had fantastic performance. They are investing in transformative and exciting newer technologies. I view them as "Tiger in the Tank" investments that are like an additive you put into your gas tank to boost octane and hopefully performance. Probably a little bit in this funds are fine but I would not overdo it. Hard to keep up the exciting performance over long periods of time. I have no recommendation on these funds. I have owned aggressive investments in the past and still do but I am mostly a Value oriented investor.
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Busdrvr
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Re: Ark Funds

Post by Busdrvr »

occambogle wrote: Tue Dec 29, 2020 12:18 pm ARKG is down because largely because Arcturus is down 50+% on "disappointing" virus vaccine testing.... I was reading.
Also I could be wrong but I think the ARK etfs are ex-dividend today, e.g. https://www.dividendinvestor.com/divide ... tail/arkg/

Great find! Thank You!
Busdrvr
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Re: Ark Funds

Post by Busdrvr »

On another topic. Yesterday it was reported that Wood repurchased her agreement with ARKs distributor allowing her to remain in control of the firm.
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hagridshut
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Re: Ark Funds

Post by hagridshut »

I have mixed feelings about ARK ETFs.

The expense ratios are high: 0.75%. That's 25x what an investor would pay for VOO's coverage of S&P500 (0.03%), and over 9x what an investor would pay for the Total World Stock coverage of VT.

On the other hand, I believe that ARK team has done a good job of identifying technological trends that will shape and dominate the global economy over the next 10 years. They are also transparent about their trades and the rationale behind their choices. From what I've watched and read from ARK's analysts, I believe they are smarter and more openminded than the vast majority of spreadsheet drones working on Wall Street.

The chief risk to ARK IMO is that they don't retain their most talented analysts.

Index Funds remove the analyst risk. Index Investors don't get the smartest people, but they also avoid the far more numerous incompetents in the business.
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silent_john
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Re: Ark Funds

Post by silent_john »

rockstar wrote: Sat Dec 19, 2020 5:54 pm What is driving all of the discussion about Ark funds here lately?
BH in general has seen a shift lately. Ark funds (active investing?!), numerous bitcoin threads, leveraged products, market timing threads, etc.

"Why not just go all in on <<insert newest hot thing>>? What am I missing?"

It seems very anti-BH. Thankfully there are many "old" and "conservative" and "boring" bogleheads out there that keep things in perspective.

I know nothing. Maybe they're all getting rich.
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sperry8
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Re: Ark Funds

Post by sperry8 »

am wrote: Sun Dec 20, 2020 10:34 am
rockstar wrote: Sat Dec 19, 2020 5:54 pm What is driving all of the discussion about Ark funds here lately?
Performance chasing, just like recent bitcoin threads and other threads that pop up about hot assets. Dumping foreign stocks threads now because they’re underperforming. Have seen it every year since I joined. Those hot and cold assets flip rolls and you see the opposite threads :D Investing is simple but not easy.
Not all foreign funds are underperforming... Germany's DAX just hit an all time high yesterday for example.
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hagridshut
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Re: Ark Funds

Post by hagridshut »

silent_john wrote: Tue Dec 29, 2020 3:37 pm BH in general has seen a shift lately. Ark funds (active investing?!), numerous bitcoin threads, leveraged products, market timing threads, etc.

It seems very anti-BH. Thankfully there are many "old" and "conservative" and "boring" bogleheads out there that keep things in perspective.
I started out as a Boglehead in the late 90's. My first mutual fund investment was the Vanguard 500 Index, so I consider myself "old" as a community member, although I'm not exactly old in terms of age.

To me, being a Boglehead comes down to 3 basic principles: (1) Diversification of assets, (2) Keeping costs low, and (3) Staying the course, or sticking to a plan and not trading on emotions.

Bitcoin and Cryptocurrency in general is not necessarily anti-BH. One could argue that it serves a diversification purpose as its own asset class. There are several members here who hold Crypto as a planned part of their portfolio, and know what % of their assets they will allocate to Crypto and when they will rebalance. What would be anti-BH, is buying Cryptocurrency out of herd mentality, without understanding it or having a plan for holding it. Buying Bitcoin on FOMO (fear of missing out) is really no different than buying FAANG (Facebook Apple Amazon Netflix Google) stocks on FOMO.

Leverage and Market Timing are generally anti-BH IMO. Leverage often results in higher costs -- interest paid on loans, possibility of margin calls and being forced to sell low. Market Timing usually means trading on emotion: people fearing that the markets will go lower and selling assets when they don't need to. The mini-crash of late 2018, and the Coronavirus panic earlier this year, are examples where I've seen people here attempt to market time based on fear of loss.


"Why not just go all in on <<insert newest hot thing>>? What am I missing?"

I know nothing. Maybe they're all getting rich.

The time to "go all in" on something is BEFORE it is hot. For example: buying Bitcoin in 2011, or NVDA (nVidia) in 2014. By the time it becomes hot, it is generally too late.

I do think that some people should try for Longshot investments like BTC, but ONLY if (1) they have specialized, deep knowledge of the investment, (2) can afford to lose that investment without placing their future retirement in jeopardy, (3) Have a plan of how to exit or rebalance that investment if they hit a home run.

This is not most people.

In 2011, maybe a handful of investors understood how Bitcoin worked or what the implications of Cryptocurrency and Blockchain might be to the financial markets. When I read threads about controversial subjects here, it's often apparent that most people at Bogleheads have no idea what they're talking about, even if they are smart people.

There are many paths to getting rich. Indexing is a slower, less exciting path, but probably the best for most people. However, I do think that those with specialized knowledge and the ability to take on extra risk, should not shy away from making well planned YOLO plays.
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rockstar
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Re: Ark Funds

Post by rockstar »

silent_john wrote: Tue Dec 29, 2020 3:37 pm
rockstar wrote: Sat Dec 19, 2020 5:54 pm What is driving all of the discussion about Ark funds here lately?
BH in general has seen a shift lately. Ark funds (active investing?!), numerous bitcoin threads, leveraged products, market timing threads, etc.

"Why not just go all in on <<insert newest hot thing>>? What am I missing?"

It seems very anti-BH. Thankfully there are many "old" and "conservative" and "boring" bogleheads out there that keep things in perspective.

I know nothing. Maybe they're all getting rich.
To me BH is nothing more than not getting ripped off investing by paying too much ER. Buffet is all about investing in an index fund and avoiding hedge funds for better returns. I think, if you avoid the Wall Street salesmen and keep your investing cost to a minimum, you're doing pretty good. However, nobody likes to see their neighbor get rich when they play it too safe.
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Re: Ark Funds

Post by msrumphius »

In 2017 I retired after working for 37 years and consolidated all (nine!) of my investment accounts into one Vanguard account. One of my first purchases was ARKK (at $30.40). I liked their philosophy of spotting and monitoring companies that do long-term, disruptive technology – even at the elevated expense ratio. I still do.
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Nicolas
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Re: Ark Funds

Post by Nicolas »

The trade in Ark funds is too crowded for me, billions of dollars are pouring in. I lived through something similar in 1999. https://www.marketwatch.com/articles/ar ... quote_news
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arcticpineapplecorp.
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Re: Ark Funds

Post by arcticpineapplecorp. »

why assume that the future will look for Ark like 2017-2020 but not assume it might look more like 2015-2016:
https://www.portfoliovisualizer.com/bac ... ion2_2=100
It's "Stay" the course, not Stray the Course. Buy and Hold works. You should really try it sometime. Get a plan: www.bogleheads.org/wiki/Investment_policy_statement
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Re: Ark Funds

Post by workingmanblues »

Definitely being tempted to move some into ARKK. But I also remember feeling that in 1999 about PBHG funds. They did really well that year and the previous, but after that not so much..But maybe ARKK will be different..
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spanky123
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Re: Ark Funds

Post by spanky123 »

workingmanblues wrote: Sat Jan 09, 2021 4:38 pm Definitely being tempted to move some into ARKK. But I also remember feeling that in 1999 about PBHG funds. They did really well that year and the previous, but after that not so much..But maybe ARKK will be different..
May be or may not be any different. Anyone who thinks otherwise is delusional. :D
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MinnGuyInvesting
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Re: Ark Funds

Post by MinnGuyInvesting »

hagridshut wrote: Tue Dec 29, 2020 4:51 pm

The time to "go all in" on something is BEFORE it is hot. For example: buying Bitcoin in 2011, or NVDA (nVidia) in 2014. By the time it becomes hot, it is generally too late.
So... we shouldn't invest in indexing either?
Indexing is very hot right now.
Index ETF's 41% |ARK Funds 39% | AAPL 5% | TSLA 3% | GOOGL 1% | AMZN 1% |Other stocks 5% | BTC/ETH 5% | | | Tracking my porfolio: https://www.bogleheads.org/forum/viewtopic.php?p=5745280#p5745280
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MinnGuyInvesting
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Re: Ark Funds

Post by MinnGuyInvesting »

ARK has rebounded some after being down a few days in December.

YTD returns (9 days in)

ARK-K - 14.45%
ARK-G - 13.51%
ARK-Q - 12.48%
ARK-W - 8.90%
ARK-F - 4.53%

Other notables:
TSLA - 24.71%
QQQ - 1.69%
Bitcoin - 40.88%
Index ETF's 41% |ARK Funds 39% | AAPL 5% | TSLA 3% | GOOGL 1% | AMZN 1% |Other stocks 5% | BTC/ETH 5% | | | Tracking my porfolio: https://www.bogleheads.org/forum/viewtopic.php?p=5745280#p5745280
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nedsaid
Posts: 14372
Joined: Fri Nov 23, 2012 12:33 pm

Re: Ark Funds

Post by nedsaid »

silent_john wrote: Tue Dec 29, 2020 3:37 pm
rockstar wrote: Sat Dec 19, 2020 5:54 pm What is driving all of the discussion about Ark funds here lately?
BH in general has seen a shift lately. Ark funds (active investing?!), numerous bitcoin threads, leveraged products, market timing threads, etc.

"Why not just go all in on <<insert newest hot thing>>? What am I missing?"

It seems very anti-BH. Thankfully there are many "old" and "conservative" and "boring" bogleheads out there that keep things in perspective.

I know nothing. Maybe they're all getting rich.
The Bogleheads might be the equivalent of the shoe shine boys giving stock tips to Bernard Baruch during the 1920's. Euphoria seeps through even here.
A fool and his money are good for business.
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