Cathie Wood reads the Bible every morning. She named her $13 billion fund after the Ark of the Covenant
At 58, she launched it after AllianceBernstein told her the idea was too risky. At 65, Bloomberg called her the best stock picker on earth. At 68, Morningstar called her the worstMeet the devout Christian who bet everything on what she believes to be the futureTimeline:• Graduated USC summa cum laude in finance• Got her first job through Arthur Laffer at 22• Spent 18 years at Jennison Associates as chief economist• Joined AllianceBernstein in 2001, managed $5 billion• Pitched actively managed ETFs focused on disruptive innovation. They said no• Left and founded ARK Invest in 2014. Her first 4 ETFs were seeded by Bill Hwang, who went to jail for blowing up $36 billion at Archegos• 2020: ARKK more than doubled. Bloomberg named her best stock picker of the year• 2022: Morningstar named ARKK the worst-performing US equity fund in Q1• 2024: Morningstar ranked ARK the #1 wealth-destroying fund family of the decade. $14.3 billion gone• Today: still running $13 billion across all funds - all-in on Tesla, CRISPR, and AIHere's what ARK is buying now:$Tesla(TSLA.US) — Tesla, the EV and autonomous driving bet she's held since 2014. Down 20% YTD$CRISPR Therap(CRSP.US) — CRISPR Therapeutics, the gene-editing company rewriting human DNA. Down 4% YTD$Tempus AI(TEM.US) — Tempus AI, an AI-powered precision medicine company. Down 23% YTD$Shopify (SHOP.US) — Shopify, the platform powering millions of online stores. Down 22% YTD$Coinbase(COIN.US) — Coinbase, the crypto exchange she bought the dip on. Down 24% YTDEvery top holding is red this year, yet she’s still buying
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