Más comentarios que he leído acerca de los fondos y un vídeo muy interesante:
One thing to keep in mind is that when she becomes a 10%+ owner, there are a ton of reporting and retention rules that come into play.
For example, buys cannot be sold for 6months - I don’t know exactly how this is determined - by lots, FIFO, or whatever or how transitioning back below 10% is handled
So it may help these concentrated positions if she has to sell something else for redemptions - or may hurt if she has 6mo+ old holdings she can dump to get out of the 10% restrictions
point is, in a volatile market she is going to have a bunch of needles to thread and outside hedge funds are going to be studying and modeling her hard spots - looking to break her shit if possible. If she gets trapped in some of these positions, there is no telling what the results might be - either in those stocks or liquid ones that gotta be cut to cover the restricted issues.
anyway - just realize that there is more to this bubbly brew than even the obvious bubble flows show.
I’m certainly no expert, that came from some posters who seem to be professionals
In researching the 6 month holding period, it looks kinda murky with many of the postings by lawyers and others citing grey areas - look at SEC section 16 and 144 rules if you want.
The point is that 10% plus owners are considered insiders who have fiduciary responsibilities beyond whipping shares around - one reason you almost never see something like ARK taking on such a position - these involve reporting and anti-manipulation rules to try to prevent self dealing or imposing risk on other owners (leverage/borrowing rules against shares).
one other topic that has come up about ARK is that Cathie does not appear to have any risk management officer to police what is going on - she prides herself on not hiring experts (she has no medical people on board either it appears) - hearsay ? I don’t know for sure, but it is clear the believers are there for one reason - its been going up, who cares about anything else?
Y lo que comentaba también sobre la salida de las empresas que controla más de un 10%:
The great irony of her fund is all those 10% ownerships. As noted in other posts she’s had some huge outflows recently. At some point she will need to sell something just to redeem those outflows. As a 10% owner in at least 25 different stocks at some point those will get sold. She will have a matter of days to file a new 13G on those sales. When that hits the wires everyone else will begin selling and she will lose her butt trying to cover her redemptions. I fear “crash and burn” is the way she ends.
El vídeo:
Por cierto, no tengo nada contra el fondo o la amiga. Solo es que sé que hay gente que se ha metido y es mejor que tengan toda la información para hacer mejores decisiones (y porque creo que hay más probabilidades de que se pierda dinero a estas alturas que que se gane).