"Bear Market for innovation" ... CW Whatever. But we also have a roaring bull market in censorship, and the censors don't seem to have any interest in letting up. Short and simple, you don't get waves of innovation when censorship is reaching new highs. Whatever Cathy Wood is smoking pass it around. She had a few good years, now in the rear view mirror.
https://www.zerohedge.com/commodities/cathie-wood-admits-defeat-12-bearish-oil-target-prices-top-120 She betted on oil going to 12 USD.... Laughable.
I still remember that. At the time though, all her cult-followers were sure it was to happen. I was sitting with huge piles of OIL stocks and thinking... "ok shit, am I fucked?" Just kidding about that. I haven't sold them off and I never will (knock on wood).
Looks like there are still some dip-buyers... https://ca.finance.yahoo.com/video/cathie-wood-arkk-innovation-etf-170204520.html
2-years of gains wiped out? Well, it's worse than that when you factor in how much value has been lost due to inflation alone.