, Columnist
Cathie Wood May Have Lost $14 Billion. But She’s Interesting
In fundraising, storytelling is more important than a good track record.
A good story beats making money.
Photographer: Eva Marie Uzcategui/BloombergThis article is for subscribers only.
As equity long-short hedge funds suffer massive withdrawals, once high-flying stockpickers, such as Julian Robertson’s Tiger Cubs, can look to Cathie Wood for some inspiration on how to fundraise and retain clients.
After the 2022 bear market, investors have grown skeptical that growth-oriented managers can protect their portfolios during downturns. Those searching for undervalued companies are also not favored. Greenlight Capital’s David Einhorn lamented that the rise of passive index funds and algorithmic trading has eroded the equity market’s ability to discover value.