Cathie Wood: The Pioneer of Thematic Investing and Her Journey with ARK Invest"
Cathie Wood is a renowned American investor, founder, and CEO of ARK Invest, a pioneering investment management firm focused on thematic investing. With a career spanning over four decades, Wood has made a significant impact in the financial industry.
Early Life and Education:
Cathie Wood was born in 1955 in Los Angeles, California. She earned a Bachelor's degree in Economics and Finance from the University of Southern California and an MBA from the Wharton School of the University of Pennsylvania.
Career:
Wood began her career in 1977 as a research analyst at Jennison Associates. She later moved to Capital Group, where she worked for 18 years, eventually becoming a portfolio manager. In 2001, she joined Tupelo Capital Management as a portfolio manager and later became the firm's CEO.
ARK Invest:
In 2014, Wood founded ARK Invest, which has grown to become a leading investment management firm focused on thematic investing. ARK Invest's flagship fund, the ARK Innovation ETF (ARKK), has gained significant attention for its bold bets on disruptive technologies and innovative companies.
Losses:
Despite her success, Wood and ARK Invest have experienced significant losses in recent times. Some notable losses include:
- ARK Innovation ETF (ARKK) down over 35% year-to-date (as of May 2024)
- Estimated $14.3 billion in wealth destroyed over the past decade (as of May 2024).