Introduction: Cathy Wood Biography
Who is Cathy Wood?
Cathie Duddy Wood is an American investor born in November 26, 1955. She is the founder, CEO and CIO of Ark Invest, an Investment Management Firm. Cathie Wood was born in Los Angeles to Ireland immigrants. She attended Notre Dame Academy an all-girls Catholic High School in Los Angeles. Cathie Wood has a Bachelor of Science degree in finance and economics from the University of Southern California. Arthur Laffer an economist and Wood’s professor later became her mentor.
In 1977, Wood got a job as an assistant economist at Capital Group, through her mentor where she worked for three years. Wood later relocated to New York where she took on a job at Jennison Associates as chief economist, analyst, portfolio manager and managing director.
In 1998, Wood alongside Lulu C. Wang co-founded Tupelo Capital Management, a hedge fund based in New York City. Cathie Wood later on founded her own firm, Ark Invest.
She runs funds
Bloomberg News editor-in-chief emeritus Matthew A. Wrinkler named Wood as the best stock picker of 2020. Wood is famous for her bold predictions. In 2018, Wood stated on CNBC that Tesla stock could attain a price of $4,000 in five years to make a 1,100% increase from its price at the time. She reiterated her predictions in May 2019, after the price has dropped by 29%. This drop in price made her get ridiculed but Tesla’s price finally reached her predicted target in January 2021, after two years. The whole event made her gain the attention of the media.
In March 2021, two funds run by Wood were said to be on the top 10 largest female-run funds list by total net assets. Wood was chosen for the Forbes 50 over 50, 2021 inaugural. This consist of entrepreneurs, creators, leaders and scientists who are over the age of 50.
How did Cathie Wood made Her money?
Wood accumulated about 40 years’ experience researching and investing in innovation. Thereafter, she went on to establish Ark Invest in 2014. She managed over $5 billion in assets at Alliance Bernstein and over $800 million at hedge fund Tupelo Capital Management. Cathie Wood established Ark as a way of packaging active stock portfolios into an ETF format. Ark invests in company with the potential for both explosive short-term growth and long-term relevance by focusing on disruptive and innovative technologies. Wood as the CEO and portfolio manager of Ark makes the final decision on Ark’s investment. In 2016 and 2017, she was a featured speaker at the World Economic Forum in China.
Regardless of the slow pace at which ARKK and ARKG are recently both moving, these two funds have crushed the market over the past five years.
ARKK, which encompasses heavy tech prospects such as: Tesla, Zoom, Coin base and Shopify among others, has increased with about 450% since the summer of 2016.
ARKG on the other, focuses on technology like molecular diagnostic and genetics, and holds companies such as virtual healthcare provider Teladoc Health and Regeneron pharmaceuticals has risen roughly about 340% over the same period of time. ARKK has realized close to $5.9 billion in inflow this year, making its entire assets under management to accrue to a whopping $22.6 billion.
Where is Cathie Wood located?
Cathie Wood is divorced from Robert Wood, who died in 2018. She has three children Caitline, Caroline and Robert. Although Wood was given birth to at Los Angeles, California in United States where she spent our childhood. She moved away from their growing up and as of now, she lives in Wilton Connecticut.
What is her net worth?
Wood has received immense recognition as a result of her bold and high investment performance over the years. Her firm, Ark Invest is also doing pretty well. According to Forbes, the estimated net worth of Wood as of August 11, 2021 is $400 million.
Best Quotes by Cathie Wood
“Surround yourself with people trying to shape the future.”Cathie Wood
“If people want great things to happen in your career, think big…Focus on the future. Double-down on innovation.”Cathie Wood
“(Market) Corrections are good, they keep us humble…The strongest bull markets I’ve been are built on walls of worry.”Cathie Wood
“People who want to succeed should think like a disrupted…That’s going to become more and more true, because so much is changing.”Cathie Wood
“To be successful, you need conviction in your ideas. Be proud of your work!”Cathie Wood
“Those were the most exciting times for me (when people criticized Cathie’s work) because I always believe truth wins out.”Cathie Wood
“Drowning out naysayers and staying focused is a prerequisite for success.”Cathie Wood
“I love figuring out how the world is going to work. I think I understand how it works now. But how is it going to change? That is really exciting.”Cathie Wood
“In the sharing economy world and networking world, if you don’t give, you don’t get…You can’t succeed on your own.”Cathie Wood
“Betting your future on old-line companies is riskier than joining with entrepreneurs and startups.”Cathie Wood
“Anyone hewing to the benchmarks which are backwards looking, they’re not about the future. They are about what has worked. We are all about what is going to work.”Cathie Wood
Cathie Wood’s recommended portfolio
Below are the top 5 best stocks picks from Cathie Wood from the least favorite:
UiPath Inc. (NYSE: PATH)
Number of Hedge Funds Holders: 46
AI Company, UiPath Inc ranks fifth on the list of Cathie Wood’s stock picks. This company is based in New York and creates software for robotic process automation (RPA) that is used to provide business and cognitive processes in finance, operations, customer services and other Industries. Wood’s hedge fund owned 11,875,886 shares of UiPath Inc. worth $806 million as of August 2021. This represents some point 1.6% of the total holdings of Ark Investment Management.
Etsy Inc. (NASDAQ: ETSY)
Number of Hedge Fund Holders: 47
According to Cathie Wood’s SEC 13F filings, the hedge fund owned 353,421 shares in Etsy Inc. worth $72.7 million as of August 2021. This amounts to 0.13% of the total Holdings of Ark Investment Management.
Coinbase Global Inc. (NASDAQ: COIN)
Number of Hedge Fund Holders: 49
This is a regulated cryptocurrency company that provides customers around the world with a platform for buying, selling, transferring and storing digital assets. According to Cathie Wood’s invest SEC 13F filings, the hedge fund owned 5,617,415 shares of Coinbase Global Inc. worth $1.42 billion as of August 2021, amounting to 2.64% of Ark Investment Management LLC’s holdings.
Okta Inc. (NASDAQ: OKTA)
Number of Hedge Fund Holders: 57
Okta Inc is an identity management company based in San Francisco. They provide an enterprise identity management platform to small and medium-sized businesses.
The Walt Disney Company (NYSE: DIS)
Number of Hedge Fund Holders: 112
The Walt Disney Company is an entertainment giant and this company tops Cathie Wood’s stock pick list. According to Cathie Wood’s latest SEC 13F filings, the hedge fund owned 152,406 shares of the Walt Disney company worth $26.7 million as of August 2021, which makes about 0.04% of ARK Investment Management LLC’s holdings.