Catherine Wood was born in Los Angeles, California. In 1977, under the recommendation of her mentor Arthur Laffer, she secured a position as an assistant economist at Capital Group, marking the beginning of her career as a financial analyst. In 1980, she transitioned to Jennison Associates, where she served as Chief Economist.
In 1981, she successfully predicted that inflation and interest rates had peaked, but her foresight was met with skepticism by her then-superior. Additionally, in the early 1980s, she debated with banker Henry Kaufman on why she believed interest rates had already reached their peak.
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ARK Invest primarily focuses on investing in five innovative sectors: artificial intelligence, energy storage (such as battery systems, electric vehicles, and autonomous driving), robotics, DNA sequencing, and blockchain technology.
Wood believes that traditional large-scale funds have an outdated approach to analyzing tech stocks, making it difficult for them to keep pace with the rapidly evolving technology era. This belief was a key driver behind her decision to establish ARK Invest.
Among ARK Invest's strategies, the firm has made several market-defying investment moves. For instance, in 2015, it invested in Bitcoin, and nearly completely exited its Bitcoin holdings in 2017, just before the cryptocurrency soared to its then-record high of nearly $20,000.
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