Paid articlePaywallArk’s Cathie Wood Sees Silver Lining in $2 Billion Loss:
Cathie Wood highlighted one silver lining of the brutal run her exchange-traded funds suffered through ...
bloomberg.com/news/articles/2023-03-21/cathie-wood-sees-silver-lining-after-bad-run-2-billion-losses
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ARK’s Losses Offer Tax Relief OpportunityMore than $2 billion in stock sale losses may significantly reduce ARK’s future capital gains tax liabilities.
Key FactsMar 21, 2023 · Reading time: ~45 sec.
Summary created with AI assistance · Source: bloomberg.com
Summary created with AI assistance · Source: bloomberg.com
- ARK Investment Management incurred over $2 billion in losses from stock sales last year.
- This occurred during an exceptionally challenging year for the company’s exchange-traded funds.
- The losses can offset or reduce future capital gains taxes on profits earned by the funds.
- CEO Cathie Wood views this tax offset as a beneficial outcome amid a tough market period.
Last year was the most unusual year of my investment career.— Cathie Wood, Ark Invest CEO and CIO, during an interview on Bloomberg Technology with Caroline Hyde and Ed Ludlow.
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act of providing financial or material resources to support an activity, organization, or cause; encompasses public, private, and illicit sources of finance
profit that results from a sale of a capital asset, such as stock, bond or real estate, where the sale price exceeds the purchase price
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