Cathie Wood: Doubling Down on Disruption 12/29/22

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 29 December 2022

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

ARK Invest CEO Cathie Wood is famous for her bold bets on disruptive technology stocks, like Tesla, Zoom, and Roku. But, like those tech stocks, her flagship fund’s performance is down over 60% year-to-date. Even still, she’s reeling in more money from her retail trader, Reddit-enthusiast clients. In an interview recorded in late June, Wood explains her tech-focused strategy in the face of the Fed’s inflation battle. In her view, the U.S. economy is in a recession. In this episode: Cathie Wood, @CathieDWood Becky Quick @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	This is Squawk Pod, the daily podcast brought to you by the team behind Squawk Box.
0:09.0	NYC, this is NBC Control 2.
0:11.0	CNBC's essential morning show, Every day get the this is a C. M. C. M. C. R. 2. 2.
0:14.0	Every day get the best stories, debate, and analysis from the biggest names in business and
0:18.8	politics. Today, a best of the year discussion with the one and only Kathy Wood, the widely followed
0:25.1	tech investor on where she's looking for returns and what she and maybe everybody might have missed
0:30.3	this year.
0:31.3	We think we're in a recession and we think a really big problem
0:34.0	out there is inventories. We're talking about the best managed companies in the world if
0:38.9	you're talking about Walmart and Target. If they have problems, we think there are a lot more problems.
0:44.0	Her tech-focused portfolio is down over 60% year to date, but she's doubling down and so are Kathy
0:50.8	loyalists. When people invest in ARC, they know they're getting truly disruptive,
0:58.2	transformative innovation.
1:01.1	I'm CMBC producer Katie Kramer. It is Thursday December 29th, 2022. Squack Pod begins right after this.
1:11.0	This is Squ squawk pod from CNBC.
1:17.0	Today on the podcast, a special interview with Kathy Wood, the CEO and CIO of Arc Invest. Wood is a famously bold investor.
1:25.8	Popular, nearly idolized, really, by Reddit traders and retail investors for her deep
1:30.9	belief in disruptive technologies. Her Arc Innovation E. T.F. for her
1:33.2	arc innovation E.T.F has just shy of seven billion dollars under management,
1:38.0	but it used to have over nine and a half billion.
1:40.5	Year to date, the flagship fund of Kathy Bay, or Aunt Kathy, as the
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