A Student of Disruptive Innovation Bets on Tesla, Telehealth, and Genomics

Technology is blurring the lines between and among sectors, says ARK Investment’s Cathie Wood. ARK Investment Management has been in the spotlight since it was founded in 2014. The firm is solely focused on disruptive innovation—and founder Cathie Wood, a trained economist, is famously bullish on Tesla and Bitcoin, two frequently contentious investments. ARK’s optimism about both has given the firm a stellar track record. How stellar?

The company’s five actively managed exchange-traded funds have returned 92% year to date on average, and the four that have five-year records have returned an annualized 37% in that time, beating the broad market and most actively managed competitors. Today, the firm manages $30 billion in assets, including $15 billion in ETFs. , when unemployment was at historic lows and the stock market was on a tear.

Now, as the Covid-19 pandemic has disrupted many aspects of our lives and possibly ushered in permanent social and economic changes, Wood chatted with Barron’s again—about innovation and destruction in a post-Covid world, a new golden age for health care, her favorite stocks for the digital workspace, Tesla (ticker: TSLA), Nikola (NKLA), and more. Our conversation has been edited and condensed for clarity. Barron’s: You’re […]

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