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Cathie Wood's ARKK logs best month ever as tech shares surge

Por: MarketWatch Business February 01, 2023

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The tech-heavy fund soared nearly 149% in 2020 thanks to its bets on early pandemic winners. That strategy suffered last year as the Federal Reserve rapidly hiked interest rates in its bid to get inflation under control. That sent Treasury yields soaring, which tanked growth stocks. Growth stock valuations are based on expectations for earnings and cash flow far into the future. Rising bond yields make those flows worth less in the present,... + full article



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