Cathie Wood
Courtesy of ARKCathie Wood has risen to star-manager status in 2020, and her asset management firm, ARK Investment Management, took in billions of dollars of new assets—the third highest amount, behind only Vanguard Group and BlackRock’s iShares.
Wood, now 65, founded ARK seven years ago. The firm’s actively managed exchange-traded funds have performed well in the past, and phenomenally so last year. Five of its active ETFs returned an average of 141%, and three were the top performers among all U.S. funds.
Wood grew up in an Irish immigrant family and studied economics with celebrated supply-side economist Arthur Laffer. She witnessed the early stage of a new era of innovations during her time at growth shop Jennison Associates, and became dedicated to investment in disruptive technologies.
“I felt that the move toward benchmark investing had gone too far, and there was a void evolving in the marketplace having to do with innovation,” she tells Barron’s.
Wood is a famous Tesla bull, and has strong convictions for blockchain and Bitcoin. Her portfolios are loaded with high-beta growth stocks, which have skyrocketed in 2020 as the market went up, but pulled back over the past few months.
But Wood isn’t focused on short-term fluctuations; she is taking a long-term view of at least seven years. The big ideas blossoming now were planted 30 years ago, she says: “We are ready for prime time now.”
Write to Evie Liu at evie.liu@barrons.com
"wood" - Google News
May 07, 2021 at 04:00PM
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Cathie Wood - Barron's
"wood" - Google News
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