What Cathie Wood is doing is exactly what Semyon Dukach describes in "The real cause of the financial crisis – An MIT Blackjack Team perspective from 2009" http://semyondukach.blogspot.com/2009/01/real-cause-of-finan...

Cathie Wood is playing classical martingale strategy with investor money. Her business is ARK Investment Management, LLC. and fees. It's winning strategy for her, not long time ARKK investors.