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You can see other videos from our team by tapping here. If you refresh your browser, or In an interview with Bloomberg s Carol Massar and Tim Stenovec, ARK Investment Management founder and chief executive officer said her flagship fund now gives investors better exposure to long-term innovation than most of the market's most popular growth stock benchmarks.
Wood said that we are the new Nasdaq. The founder of ARK Investment Management, who is known for making bold predictions, has made a statement. She stated thatBitcoin will surpass US $1 million per coin in the next decade.
How does Woods historical performance stack up? It depends on the time frame. The Ark fund is 72 per cent less than its peak two years ago, underperforming the index by more than tenfold this year, while the ARK Innovation ETF ARKK has gone up 42 per cent this year — more than twice as much as the Nasdaq 100. The Ark fund's five-year gain is just 12 per cent compared to 89 per cent for the tech benchmark.
The mega-cap technology stocks that have dominated the market over the last decade are Microsoft Corp., Apple Inc. and Amazon.com Inc. While the ARK Innovation ETF's largest holding - Tesla Inc. - is also a top stock in the Nasdaq, the fund's other big positions are concentrated in smaller, newer companies like Zoom Video Communications Inc. and the cancer-test maker Exact Sciences Corp.
What are REITs and how do they fit into a balanced portfolio? Wood said that while 2022 was a horrible year for her fund's returns due to the rapid rise in interest rates, investors sold their positions in growth benchmarks like the Nasdaq and moved into ARKK. The ETF saw positive inflows of around US $1.3 billion last year, despite a 67 per cent drop in its worst annual performance on record. She said that innovation was one of the biggest victims of the massive interest rate increase we saw last year. Every time that Chairman Powell spoke, we felt it. She said last year's plunge was caused by exaggerated fears of interest rates and angst that higher inflation would remain in the economy as in the 1970s. She would not be surprised if the U.S. central bank cuts rates at some point in 2023.