Cathie Wood: Elon & Twitter; Why Facebook is a Value Stock Now; ARK's Performance | 20VC
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- Опубліковано 23 лип 2024
- Cathie Wood is the CEO & CIO @ ARK Invest, focusing solely on disruptive innovation, primarily in the public equity markets. ARK has become renowned for opening up its research and becoming a ‘sharing economy’ company in the asset management space. Prior to ARK, Cathie spent twelve years at AllianceBernstein as CIO of Global Thematic Strategies where she managed over $5 billion. Cathie joined Alliance Capital from Tupelo Capital Management, a hedge fund she co-founded, which managed $800 million in global thematic strategies. Prior to Tupelo Capital, she worked for 18 years with Jennison Associates LLC as Chief Economist, Portfolio Manager and Director.
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Timestamps:
0:00 Who is Cathie Wood?
1:15 What are you running from and towards?
3:45 Lessons from the Bust of Tupelo
7:25 Is there too much money chasing too few deals?
10:35 How do you handle being down 80-90%?
15:03 When is the time to sell?
20:32 Views on Risk Management
23:33 Why hasn’t ARK had more outflows?
26:27 Why does ARK make its research public?
28:38 Why did ARK launch a venture fund?
33:07 How incentives work in a 0% carry fund
38:57 How do you win access to the best deals?
43:55 Capital Planning in an Open Evergreen Fund
46:50 The Risk of Investing with ARK
49:03 Cathie’s Favourite Book
49:36 Why Facebook is a Value Stock
50:55 Elon and Twitter
53:17 Best Investment Advice Cathie Ever Received
55:17 Where would you put all your money?
56:22 Future of ARK
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In Today’s Episode with Cathie Wood We Discuss:
1.) Entry into Hedge Funds at 20:
How did Cathie get her first role in the world of finance at the tender age of 20?
What is Cathie running from? What is Cathie running towards?
What are some of Cathie’s biggest lessons from seeing the dot com bust at Tupelo?
What does Cathie know now that she wishes she had known when she started investing?
2.) Why Benchmarks and Passive Investing are Bad:
Why does Cathie believe that benchmarks and indexes have become dangerous for consumers?
Why does Cathie not believe what everyone else does regarding inflation?
How much of the performance of large-cap tech stocks is tied to the growth of passive investing?
Why does Cathie think the Fed is making a huge mistake?
3.) Time to Pick Companies:
Why does Cathie believe that Facebook is emerging as an attractive value stock?
How does Cathie believe Elon Musk and Jack Dorsey could build the largest universal wallet?
If Cathie were to put all her money into one of their companies, what would it be?
Why does Cathie believe Zoom is one of the most misunderstood companies?
4.) Why Venture: Why Now:
Why did Cathie decide to do a venture fund with ARK now?
Why did Cathie decide to do a no-carry structure with a higher management fee? How does that align incentives with investors?
In venture, the asset chooses the capital, how does Cathie analyze why the best founders in the world will pick and work with ARK over other amazing VCs?
What is the single biggest risk you are underwriting when investing in ARK’s venture fund?
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#CathieWood #ARKinvest #venturecapitalist #HarryStebbings #20VC - Розваги
Another fantastic podcast. Thanks for providing so much value 🙏🏼
The most interesting Cathie Wood interview I have ever seen. Good job Harry!
What a compliment from an incredible person (Cathie) right off the bat!! Well done Harry!
Great video Harry !
Hey Cathie! I thought by what you said lately that, if you would pick a single stock, it would be 1 from genomics space. Due to the fact you expect a huge boost in this space in coming years. Can you give me your opinion on this, please? Thank you very much for your work, love what you do!
Good job
Thank you for asking tough questions.
I've been buying Invitae (NVTA) from 50 dollars all the way down to under 2 dollars. I've seen the stock drop 80% and managed to get my average share price down to 4 dollars. The future is looking good for me.
How many shares of invitae do u have
@@eric2394 - Just under 5,000.
invitae files for bankruptcy today lmao@@evanwilliamson3602
How do you feel about your future now?
@@matefarac7297 - Very good question. I’m lucky to have other assets.
Ran here after seeing the TikTok!
I believe in Auntie Cathie
Every time I watch a Cathie Wood interview, I love her and her business a little more. What a fantastic business. What a fantastic regard for customers (and retail investors generally) and what a fantastic regard for her staff. Excellent questions too - thank you.
She’s underestimating the market for once!!! Just joking 😂
Art Laffer disciple about is all you need to know about Cathie Wood.
Price is a strange data point to not weight more heavily.
You cant say you have investment discipline and be down 80%!
I think she is better in marketing than in investment. No one would be listening to anyone else alse this oerson's fund lost 90% of INVESTORS MONEY!
I'm not trying to start a flame war but with respect, it feels like this is a fundamental misunderstanding of what her funds aim to do. You only lose money if you buy risk on and sell risk off. What Ark does in the bear markets is buy more of what they have highest conviction in (so if they are correct, they get those stocks cheaply). That will ultimately pay off hugely when the bull market returns. That strategy only works if you remember that a) they have a 5 year minimum time horizon and also remember that b) Ark funds should be part of a broader portfolio IF you want some degree of diversification and are worried about concentration risk in the innovation sector. If you treat Ark funds as you would broadly diversified funds, the error is yours, not Ark's. I just don't understand why this is not well understood. They say it enough.
80%-90% down ? You will never recover from that.
Harry I have been listening for to you since the beginning… sad to see you legitimize this scammer. But hey you were into crypto it’s the same pump and dump mentality.