Cathie Wood, who manages ARK investments funds, is popular among retail traders. Which is not surprising, since smaller traders tend to be more bullish and growth-favoring. So, it was quite noteworthy when she came out yesterday to say that “we” (that is, the United States) are in a recession. Of course, we won’t know whether that assessment is correct until Q2 data is published later this month. But the definition of a recession is at least two quarters of negative growth. Meaning we can’t know a recession is in place until at least two months into it. So, waiting for the official diagnosis isn’t all that helpful ... (full story)