Billionaire “bond king” Bill Gross has defrauded CNBC and other business media for his or her coaxing coverage of tech investor Cathie Wood – despite her fund’s average performance over the past few years.
Gross, the outspoken co-founder of the PIMCO bond trading empire that has fortune estimated at $1.6 billionquestioned Wood’s rise in media popularity on Twitter.
“CNBC/Cathie Wood’s media idolatry is absurd,” Gross tweeted Monday night. “Over the past 5 years, QQQ has surpassed ARKK by almost 100%.”
Gross’s tweet was referring to Invesco QQQ, a preferred fund that tracks the 100 largest and most traded corporations listed on the Nasdaq technology index. The worth of QQQ has increased by 78% within the last five years.
Meanwhile, Wood’s ARK Innovation ETF, the flagship fund offered by her firm ARK Investment Management, fell greater than 4% over the identical period in Tuesday trading.
The ARK Innovation ETF has fallen greater than 70% since its peak in early 2021, when the tech sector was still within the midst of a pandemic valuation boom.
Corporations listed on Wood’s ETF include Tesla, its largest holding company, in addition to lesser-known tech corporations akin to Zoom, Roku, Coinbase and Shopify.
A distinguished promoter of Tesla and cryptocurrencies, Wood has been a fixture on CNBC, Bloomberg and other business outlets in recent times. She is often interviewed or quoted on the performance of Tesla, Twitter and other high-profile tech corporations.
![Bill Gross](https://nypost.com/wp-content/uploads/sites/2/2023/02/NYPICHPDPICT000007402818.jpg?w=1024)
![Kate Wood](https://nypost.com/wp-content/uploads/sites/2/2023/02/NYPICHPDPICT000007348259.jpg?w=1024)
While Gross didn’t specify what prompted his attack on Wood, his tweet got here just hours after she appeared on CNBC’s “Squawk on the Street.”
In an intensive interview, Wood shared her views on the present state of bitcoin, artificial intelligence, and the Federal Reserve’s fight against inflation. She also touted the long-term potential of her fund.
“Among the stocks we’ve got within the portfolio, the highest five, have proprietary data, including Tesla,” Wood said. “Billions of miles of real driving data that nobody else has. Most of our businesses will sleep over this proprietary data.
Wood has maintained his confidence despite the recent ETF collapse.
“We’re the brand new Nasdaq” Wood told Bloomberg earlier this month.
Wood admitted last yr was “terrifying” for her fund’s performance, although the ETF still posted a positive impact of around $1.3 billion over the 12-month period.
![Kate Wood](https://nypost.com/wp-content/uploads/sites/2/2023/02/NYPICHPDPICT000004810618.jpg?w=1024)
The Post contacted CNBC and Wood’s Ark Invest for comment on Gross’ remarks.