And Lusty Lad and WTF are arguing over whether GDP growth of 3% per annum is high

[Tiny]

Cathie Wood, CEO of Ark Invest and biggest proponent of investing in overvalued tech stocks, got some flack yesterday from renowned fund manager, researcher and Libertarian Cliff Asness, on Twitter, for her prediction that artificial intelligence may push GDP growth to 30% to 50% per year. Here's a link,

https://twitter.com/CliffordAsness/s...C-ja6GzbgqAAAA


Cathie Wood:

.@ARKInvest must share more of our research about #artificialgeneralintelligence (AGI) and how it is likely to transform the way the world works. Within 6-12 years, breakthroughs in AGI could a accelerate growth in GDP from 3-5% per year to 30-50% per year. New DNA will win!


Clifford Asness response:

My God I never realized that the 3-5% we got from the industrial revolution through the internet was such crap!

Btw, multi-factor quant with a value tilt is going to return one hundred million bazillion percent over the next few years! She’s on to something as this is fun!

Asness follow up:

Compliance would like me to note that it’s actually somewhat unlikely we return one hundred million bazillion percent over the next few years. But, as those great philosopher kings once said, so you’re saying there’s a chance…

[lustylad]

Maybe CM can tell us how much a hundred million bazillion is?

Btw - Cathie Wood's portfolio picks are getting clobbered this year. It's part of her job to hype stuff like this.

[WTF]

Lustylady was trying to convince me Trumps economy was the best ever , yet wouldn't even bet me that Trump could sustain 3%....did I say sustain?...hell he couldn't even get to 3%.

I recall lustynuts bragging about Trump reversing QE ... yet nary a peep about Biden doing so.

Who called this partisan hack an economist anyway?

The only person that would do so would be his boyfriend...and only to appease the silly sob.

[Tiny]

Be nice WTF. And please disregard the title and stay on topic with the text. This is the Cathie Wood bashing thread.

[Texas Contrarian]

Cathie's imagination gets a tad carried away at times.

Not long ago, she cautioned her ARKK investors not to worry about that little 70% market value decline problem, for now all the "disruptive technologies" employed by the firms she invests in will propel the fund to return 40% or more annually over the next five years. Because, you know, all this stuff is going to get so close to infinitely valuable that no one can believe it!

If that line of thinking is not quite magical enough for you, there's this:

https://mason.gmu.edu/~rhanson/aigrow.pdf

I love the part where the authors conclude that advancing computer technology and machine learning will likely increase economic growth rates "by an order of magnitude or more."

Holy fucking shit! Everybody in the entire nation will soon be rich!

(When you plug whatever you feel like into an economic growth model, there's no telling what will come out on the other side.)

Hot damn! 21st century alchemy!

.

[Tiny]

Originally Posted by CaptainMidnight

Cathie's imagination gets a tad carried away at times.

Not long ago, she cautioned her ARKK investors not to worry about that little 70% market value decline problem, for now all the "disruptive technologies" employed by the firms she invests in will propel the fund to return 40% or more annually over the next five years. Because, you know, all this stuff is going to get so close to infinitely valuable that no one can believe it!

If that line of thinking is not quite magical enough for you, there's this:

https://mason.gmu.edu/~rhanson/aigrow.pdf

I love the part where the authors conclude that advancing computer technology and machine learning will likely increase economic growth rates "by an order of magnitude or more."

Holy fucking shit! Everybody in the entire nation will soon be rich!

(When you plug whatever you feel like into an economic growth model, there's no telling what will come out on the other side.)

Hot damn! 21st century alchemy!

.

I love the alchemy aspect! If this golden period of 40% growth lasts a long time, maybe 30 years, we'll increase GDP per capita from $63,000 per year to $1.5 billion/year! We can all buy a few superyachts every year and have plenty left over for vacation homes and the like! We'll live like Jho Low used to! Fuck MMT -- AOC and Professor Stephanie were thinking small!

If you got through that paper

(a) you're a lot more mathematically mature than I am, and

(b) you've got a much higher tolerance for boredom too.

Looking at all those integral symbols reminds me of a graduate class I took during night school after I'd gone to work full time. We were learning forecasting techniques in an discipline where if you're within 10% you're damn close. I came up with an elegant solution to a problem using integral calculus that the professor had solved using a much cruder method. I trotted up to his podium after class, proud of myself, to show him. He laughed me out of the place. And he was right to do that. I remember him saying something about "bull shit in, bull shit out." Meaning general knowledge, experience and common sense can trump math. Now that's not always true, but in this instance the professor was spot on.

[WTF]

Originally Posted by Tiny

Be nice WTF. And please disregard the title and stay on topic with the text. This is the Cathie Wood bashing thread.

Ok...I'll stay on topic.

I think lustylad is Cathy Woods twin....at least when he is Schilling for Trump's economic record!

He sounds about as stupid.

[Chung Tran]

Originally Posted by WTF

Ok...I'll stay on topic.

I think lustylad is Cathy Woods twin....at least when he is Schilling for Trump's Trump's economic record!

He sounds about as stupid.

What prompted him to post that we had annualized 30% growth under Trump?

We did, for one God Damn quarter, ''annualized''. The quarter following the biggest GDP drop in history.

https://tradingeconomics.com/united-...er%20of%202020.

And only because of the massive liquidity FED Powell Chief infused. Trump didn't do shit.

Does Lusty think we are retarded?

On topic.. Does Cathy Wood have untreated mental illness?

[eccieuser9500]

Does this mean we can put off the national debt in perpituum?

On topic: Is Cathie Wood a lesbian?







Just bashing.

I E

[The_Waco_Kid]

Originally Posted by Chung Tran

What prompted him to post that we had annualized 30% growth under Trump?

We did, for one God Damn quarter, ''annualized''. The quarter following the biggest GDP drop in history.

https://tradingeconomics.com/united-...er%20of%202020.

And only because of the massive liquidity FED Powell Chief infused. Trump didn't do shit.

Does Lusty think we are retarded?

On topic.. Does Cathy Wood have untreated mental illness?

the real question .... "Why would Lusty think you and WTF are retarded?"


BAAHHHHAAAAAAA

[eccieuser9500]

Pay wall


Cathie Wood’s ARK Innovation Snapped Up Tesla. She’s Buying the Dip.


https://www.barrons.com/articles/cat...ip-51653483562

On a day when the Nasdaq fell 2.3% and the ARK Innovation ETF (ticker: ARKK) dropped 7%, Wood turned over about 0.7% of her fund. It was good timing.

[Chung Tran]

Originally Posted by The_Waco_Kid

the real question .... "Why would Lusty think you and WTF are retarded?"


BAAHHHHAAAAAAA

You are acting so immature today. But you know that already.

[eccieuser9500]

Originally Posted by The_Waco_Kid

the real question .... "Why would Lusty think you and WTF are retarded?"


BAAHHHHAAAAAAA

The real dilemma is "I don't see any reason why" he would.

[Chung Tran]

Originally Posted by eccieuser9500

Pay wall


Cathie Wood’s ARK Innovation Snapped Up Tesla. She’s Buying the Dip.


https://www.barrons.com/articles/cat...ip-51653483562

Someone should tell Cathy that Tesla is no longer a growth company.

What's next, Call options on the ''nifty fifty''?

[eccieuser9500]

Originally Posted by Chung Tran

Someone should tell Cathy that Tesla is no longer a growth company.

What's next, Call options on the ''nifty fifty''?

I don't do financial talk. That was the latest news release on the lesbian according to Google. (Let's start that schmear campaign.)