Wall Street's hottest investor is betting big on a handful of stocks. Critics say she's playing with fire

It’s a high-flying, high-risk, high-reward tier of investing. And it’s put Wood’s fans on a white-knuckle ride in 2021.Last year, Wood’s strategy paid huge dividends for investors in her flagship Ark Innovation (ARKK) exchange-traded fund. It surged nearly 150% in 2020 and helped turn her into a Wall Street superstar — sort of the Warren Buffett of momentum investing.But this year hasn’t been nearly as kind to Wood as the last. The Innovation ETF was down 2.5% through late August, despite a red-hot market for tech with the Nasdaq up more than 18% so far in 2021. Wood wasn’t available to comment for this story, but she doubled down

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