DECOUPLING: Cathie Wood’s $9 billion flagship Ark fund cut all exposure to China after Beijing started cracking down on Jack Ma. “We saw the trouble that Alibaba, Alipay got into — Jack Ma specifically, and we began to wonder ‘Oh no, is this a broad-based crackdown by the government on any company or person with too much power?’ And that’s exactly what it was, as it turns out, in hindsight.”