Billionaire Bill Gross isn't impressed with Cathie Wood and her Ark Invest management kingdom despite the media attention she garners.
Gross, the retired co-founder of rival investment firm PIMCO, pointed to the fact that the QQQ, the investment ETF that tracks the Nasdaq 100, has outperformed Ark by a wide margin over the past five years.
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"CNBC/media idolatry with Cathie Wood is absurd. Over past 5 years (QQQM) has outperformed ARKK by nearly 100%," he tweeted Monday.
QQQ shares have risen 77% from five years ago along with the Nasdaq. Meanwhile the flagship ARKK Innovation ETF (ARKK) has fallen 13% over that time.
Wood made her latest guest appearance on CNBC's "Squawk on the Street" show Feb. 27, talking about a number of issues including inflation, the bond market, and the Federal Reserve.
"The Fed really wants to make sure that it has done its job," Wood said, "but I do believe the equity market [is] beginning to see to the other side."
Gross' comments may have been made in a fit of professional jealousy after seeing Wood on CNBC once again. But he definitely decided to hit her where it hurts: her ETF's stock performance.
