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Superstar fund manager's strategy draws more skeptics as returns dwindle

Skeptics of Cathie Wood are increasing and becoming more vocal.

Superstar fund manager Cathie Wood's ARKK is down about 7 percent this year after returning 149 percent in 2020 to rank among the best-performing ETFs in the U.S. and make a star out of Wood. It's set for its first annual loss since 2016. | Photo: Bloomberg

High-profile hedge fund investors such as Michael Burry, made famous by "The Big Short" movie, have disclosed short positions against Wood's flagship exchange-traded fund, while some appear to be trying to spar with her on social media and an anti-Ark ETF is also in works.

Semper Augustus Investments Group LLC’s Chief Investment Officer Chris Bloomstran took to Twitter overnight to make some observations on what he makes of Wood’s Ark Innovation ETF and the shorts against it. He offered as many as 37 tweets of unsolicited advice on the nuances of valuations and return ratios in some of his posts.

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