![]() Many of the factors that propelled her fund are now turning against her. It has slumped about 72% since then, driven by a particularly rough performance this year. The pandemic helped turbocharge Wood's investments and her thesis looked incredibly prescient.Īs it turns out, however, February 2021 marked the peak of the ARK Innovation ETF's run. "I had just bought a Tesla myself so, it seemed like somebody very easy to align with, and I have to say, I completely agreed with."įor a while, Wood could seem to do no wrong. "About a year into me being on YouTube, we heard Cathie's bull theses," he says. He is a YouTube star in his own right, and like many of Wood's followers, he calls her Cathie. Kevin Paffrath is one of those young investors. Reuters eventually became part of what is now known as Thomson Reuters. One of Wood's bets in the 1980s was a company called Reuters, which she felt was being unfairly ignored by Wall Street. Wood's online outreach appeals to younger investors in particular, who have helped her firm grow from managing just over $10 million to more than $40 billion, turning her ARK Innovation fund into one of the largest in that investment segment.Ī new signboard is displayed at the Thomson Reuters building in London on April 17, 2008. She has more than a million followers on Twitter, and ARK Invest's videos on YouTube have almost 15 million views. Something else that sets Wood apart is how she has embraced social media. And like many of them, he has invested money in ARK Invest's flagship fund Laffer, best known for his theory that cutting tax rates can increase government revenue, counts himself among her admirers. "She's just full of enthusiasm and knowledge for it, and it's contagious." "She is almost like a missionary on these topics," said economist Arthur Laffer, who taught Wood when she was an undergraduate student at the University of Southern California in the 1970s. Wood says she prefers to hire people with subject matter expertise in artificial intelligence, for instance, and genomics. Petersburg, Fl., she oversees a small team of analysts, many of whom haven't even worked on Wall Street. Wood bet big on Tesla back when Wall Street was more cautious about the electric car manufacturer.Īt ARK Invest, Wood set out to do things her own way.Īt the firm's headquarters in St. It seemed Wall Street couldn't get enough – until recently.Ī Tesla Model 3 car is seen at a Tesla showroom at a shopping mall in Beijing, China, on April 29. Her flagship fund, called the ARK Innovation ETF, returned an astonishing 150% – well above the S&P 500's 16% return, when lockdowns led to a surge in many of tech companies Wood had bet on, including Zoom Video Communications and Roku. The 66-year-old investor had attracted millions of devoted followers with a unique vision that she frequently laid out in YouTube videos and tweets: that huge technological advances are reshaping the world, and Wall Street is too timid to take advantage of those seismic shifts. ![]() ![]() ![]() In February last year, Cathie Wood was the toast of Wall Street. ![]() Wood, a star investor who has attracted millions in social media, has had a rough year as many of her technology-focused investments have cratered. Cathie Wood, chief executive officer and chief investment officer, Ark Invest speaks during the Milken Institute Global Conference in Beverly Hills on May 2. ![]()
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