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Ark’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 last year: those billions of dollars in losses will help offset future tax bills on gains. The founder and chief executive officer of ARK Investment Management told Bloomberg TV Tuesday that she has over $2 billion in losses from selling stocks during the market rout. By selling stocks at a loss, those losses can now lower, and potentially offset the tax bill Wood’s funds could receive on future capital gains. “It’s over $2 billion right now against which we can take future gains and then concentrate towards ... (full story)
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