In November of 2020, I was in six figure debt from a failed business that got shut down due to COVID. I didn’t have enough money to pay my debt so I started looking around to see what I could do to help my bills.
Thanks to some finance YouTubers, I came across Cathie Wood. I was skeptical at first but the YouTubers were hyping her up as the next Warren Buffett – the next money tree who can 3x my investment in a year. So I started digging into ARK. On an update back in early 2021, Cathie Wood started mentioning how her fund is poised for lots of growth and outperformance of the market. Foolishly, I thought that if she’s saying it it must mean she’s guaranteeing these returns for her investors. So without thinking twice, I put money into ARK.
But the fund kept going down. I was concerned so I started reading more of the ARK research and the YouTube videos that Cathie wood posts. She kept talking about how the fund will turn around… how innovation is king and how their macro outlook is the most correct. She kept talking about how the market has got it all wrong. These were posted by Cathie wood herself so I thought wow this must mean that things will shift around soon. I kept dumping money into ARK. Every month from then on, she kept talking about how things will turn around, and I kept adding. Then I look at my account in December and I’ve lost almost half my money.
Turns out Cathie wood has been lying all along. She is a blatant fraud who claimed her macro outlook was right when it wasn’t. She kept claiming innovation will do well in 2021 when she knew she was wrong all along. She lied about how her ETF will somehow outperform. This is clear investor fraud and we must file a lawsuit ASAP. I need the money immediately to pay back my debt. Sell her ETFs now, so I can buy it for even lower!
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