Scientifically Dismantling Cathie Wood

Cathie Wood's ARKK innovation ETF has not been having a great 2022 with the fund having lost 68% of its value. One of the biggest criticisms levied against Wood is her tendency to buy shares of money-losing companies. To rebuff these claims she has created her own measure of profitability which she calls adjusted EBITDA. Under this metric most of her portfolio companies are profitable. But what is adjusted EBITDA and is it an accurate reflection of true financial performance?

0:00 - 1:44 ARK 2022 performance
1:45 - 6:35 Adjusted EBITDA
6:36 - 8:45 Roblox
8:46 - 12:36 Divorced from reality
12:37 - 14:49 Cash burn
14:50 Cathie Wood's incompetence

Cathie Wood's article about adjusted EBITDA: https://ark-funds.com/articles/commen...

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