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ARK summary from @CathieDWood
1. Equity markets broadening out (more stocks hitting highs)
2. Expect strong V shaped recovery
3. Expects earnings explosion
Notes: M2 up 26% YoY- unprecedented
1. Equity markets broadening out (more stocks hitting highs)
2. Expect strong V shaped recovery
3. Expects earnings explosion
Notes: M2 up 26% YoY- unprecedented
Notes:
2. Fed will have to reassess buying
3. Copper prices are up 75% since Mar, $ moving down - early indicators of expecting more inflation
4. Fiscal policy - expect $1Trillion (hopefully targeted stimulus)
4. Probably higher taxes
2. Fed will have to reassess buying
3. Copper prices are up 75% since Mar, $ moving down - early indicators of expecting more inflation
4. Fiscal policy - expect $1Trillion (hopefully targeted stimulus)
4. Probably higher taxes
Notes:
5. 3 policy priorities for Biden:
a) Infra spend,
b) Healthcare (generics and biosimilars will continue to thrive), Push on cancer,
c) clean energy
5. 3 policy priorities for Biden:
a) Infra spend,
b) Healthcare (generics and biosimilars will continue to thrive), Push on cancer,
c) clean energy
Notes:
6. Income tax rates could go higher, but marginal tax rates going up results in migration to low tax states
7. Economic indicators: Headline report on unemployment was weaker than expected - manuf was stronger than expected
8. Q1 GDP is going to depend on stimulus +ve
6. Income tax rates could go higher, but marginal tax rates going up results in migration to low tax states
7. Economic indicators: Headline report on unemployment was weaker than expected - manuf was stronger than expected
8. Q1 GDP is going to depend on stimulus +ve
Notes:
9. Equity market picking up & leading indicator - nicely shaping up
10. Inflation is being watched closely expecting 1-1.5% range (there are inflation worries, so asset prices might inflate)
11. Velocity of money (m2 at 26%) is large.
9. Equity market picking up & leading indicator - nicely shaping up
10. Inflation is being watched closely expecting 1-1.5% range (there are inflation worries, so asset prices might inflate)
11. Velocity of money (m2 at 26%) is large.
12. In the 40 year bond market, buying the dip was always the thing to do - *That may not be the right thing any more.* Yield curve is steeping - long rates going up, short term rates are not.
13. Financial (bank) stocks behaving well last month.
13. Financial (bank) stocks behaving well last month.
14. Energy price (>$50) picked up. When you see OPEC shuts down production, it tends to be hard.
15. USD dropped 7% last year - if it does breakdown from here it will be major
15. USD dropped 7% last year - if it does breakdown from here it will be major
16. Bitcoin has doubled in month. Usually when there is a parabolic move, it usually takes a generation to get back to peak - this is rare
17. How are we going to pay for all the stimulus and other spending in the future? Inflation - you inflate your way out of Government debt
17. How are we going to pay for all the stimulus and other spending in the future? Inflation - you inflate your way out of Government debt
18. $ARK way is to grow the way out of the problem. with innovation
19. Should you hedge against inflation?
There is not better hedge against inflation than #BTC
19. Should you hedge against inflation?
There is not better hedge against inflation than #BTC
20. Individuals and companies are getting on #BTC using it as a hedge.
21. Regulators will get on board as well. Public blockchain be used by banks, etc.
using it as a hedge.21. Regulators will get on board as well. Public blockchain be used by banks, etc.
22. Stablecoins are a bridge to the disintermediation of banks
23. Study and learn more about #BTC and crypto
23. Study and learn more about #BTC
and crypto
24. #BTC is over $700B in MCap. This is is a BIG idea.
Excited about long term innovation growth.
We will see a correction this year.
1. Take profits
2. Keep some powder dry
3. Be available to take advantage of low prices.
is over $700B in MCap. This is is a BIG idea.Excited about long term innovation growth.
We will see a correction this year.
1. Take profits
2. Keep some powder dry
3. Be available to take advantage of low prices.
Mukund's summary
1. Long #BTC - inflation hedge and tech
2. Keep some cash (keep dry powder), watch indicators carefully for signals
3. 2021 returns to be strong enough as 2020
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1. Long #BTC
- inflation hedge and tech 2. Keep some cash (keep dry powder), watch indicators carefully for signals
3. 2021 returns to be strong enough as 2020
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