In their recent episode of the VALUE: After Hours Podcast, Cassel, Taylor, and Carlisle discussed Warren Buffett vs Cathie Wood. Here’s an excerpt from the episode:
Jake: Because even somebody like Cathie Wood, if she was less boisterous, obviously, not making the comment she’s made and it was just that super hypergrowth list of companies making no money, I don’t think it would be quite as negative towards her [crosstalk]. Yeah, even I was looking at the stats. Even since Ark’s inception, I think even after today, she’s on par with what Berk has done since Ark’s inception.
Ian: Yeah. You can say the other side of it, too. Well, Ark’s down 75% from the peak and it’s still on par with what Berk’s down since 2014. Ark could probably dead cat bounce and make the same returns Berk could do over the next three years. I’m not trying to rain fire down on me. I’m just trying to play the other– I’m not even trucking Twitter right now, but it’s interesting to think of that.
Then so, I was putting up the performance before we got on. But I think it all comes back to just trying to stay humble, stay quiet, and also, knowing that everybody can outperform, but it’s usually at different times. It’s a quite a hostile world, because obviously the opposite of value is somebody like her and we all have the opposite. When you see the opposite of yourself doing well, it creates resentment and that’s what we need to dig in.
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