How Does Cathie Wood Get Away With This? (Ticks Me Off)
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That's crazy!!!
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Yes, that is nuts. I worked in financial sector as well.
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Now if she had said they had a "target return" of 40% she would be fine in my opinion. Anyone can set a target return of 40% for a fund with proportionate risk. That is descriptive language I think. I think perhaps the reason why she gets away with this in this instance is because she is saying that it's an "expectation," which lots of people make statements about expected earnings, expected IRR, etc, but for a non-financial person the article or perhaps her own statement is not worded correctly. I plug expected earnings into valuations and things like that all of the time. Economists have expectations about what they think GDP growth is going to be. Trading futures contracts requires that you have an expectation of what the future price is going to be. The word expectation is a keyword, but perhaps your average Yahoo Finance reader doesn't understand the difference between expectation's of numbers and guarantees in regards to forward looking information. Never ever make guarantees. Generally when you make a forward looking statement, which the market needs sometimes to understand, there is a disclosure of some kind or a note (you'll see these with management expectations in earnings releases when they talk about their forecasts, etc).
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