SARK’s founder Matthew Tuttle said that the ETF is not about betting against Wood, but about making a bet against the high-flying technology stocks that he believed were ripe for a correction.
“We definitely had a view on the market,” he said. “We wouldn’t have launched this if we didn’t think this has the potential to make investors a lot of money.”
But Tuttle also admitted that “there’s always an element of luck in everything.”
This article was provided by Bloomberg News.