Cathie Wood

CEO & CIO, ARK Invest · 1 appearance on the record.

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Cathie Wood is the CEO and CIO at ARK Invest, focusing on disruptive innovation in public equity markets. Prior to ARK, she spent twelve years at AllianceBernstein as CIO of Global Thematic Strategies where she managed over $5 billion.

40statements → 18claims → 11claims resolved → 82%fully supported → 4/5average certainty → 2.4/5average debate potential → 4.1/5argument clarity · the sources → 1said about them ↓

9 supported 2 partly supported 0 contradicted 1 not yet assessed 6 not checkable as stated how the 18 claims stand · each chip opens the sources

8 predictions · 10 assertions · 8 opinions · 3 insights · 11 disclosures · every statement was checked. The predictions and assertions are the 18 claims: statements the public record can support or contradict. 11 are resolved, 1 is not yet assessed, and 6 name no date, number or outcome precise enough to check. Everything else (opinions, insights, what ifs, disclosures) can never be settled by the record, so it carries no assessment.

The record, in short

What the tape says about how Cathie argues and how the claims held up. Everything they said, and everything said about them, is in the tabs below.

Their most notable supported claim

Prediction Held up
ARK Venture Fund Targets 75% Private, 25% Public Allocation
“Our desire is to get it close to 75% private and 25% public to allow more liquidity.”
Cathie Wood Nov 14, 2022 ▶ 8:53 Cathie Wood: Elon & Twitter; Why Facebook is a Value Stock Now; ARK's Performance | 20VC #949 · 20VC with Harry Stebbings

Expressed certainty vs assessment result

none yet certainty 1
none yet certainty 2
50% certainty 3
100% certainty 4
75% certainty 5

weighted support: a fully supported claim counts one, a partly supported claim counts half. Each filled bar is clickable and opens exactly those claims; "none yet" means nothing said at that certainty level has resolved yet

Argument clarity: do they answer the question? how? →

4.1 / 5 directness 4.2 · coherence 4.2 · precision 4.3 · compression 3.5

redirected or did not address 3 of 35 assessed questions (9%). Watch them ▸

This is a score against a rubric. It is not a rank. Every host question → answer exchange is scored with names hidden on directness, coherence, precision and compression, 1–5 each, on meaning alone: disfluencies are ignored, and only raw unedited episodes count. This is the score that measures thought. Every scored exchange, scores shown → · The rubric and its checks →

How they sound: speaking style how? →

189 words/min while actually speaking · 47.2 um and uh per 1k words · 15.8 false starts per 1k · 28.3% of pauses land inside a clause

Measured by listening to the audio itself: 6,758 words across 1 episode of raw-level tape, transcribed verbatim with every um and uh kept, each one attributed only where the alignment onto our timed stream is unambiguous. These are measurements of speaking style. We do not rank them: across this corpus, fluency and argument quality are nearly uncorrelated (ρ≈0.2), and smooth talking does not signal clear thinking. How it's measured →

Everything Cathie Wood said on 20VC that made the record, most notable first. Filter by type, assessment or year in the ledger →

Prediction Open · timeframe Nov 2032
Wood: Disruptive innovation market cap will hit $210T in ten years
“We believe today that truly disruptive technologically enabled innovation is priced in the global markets, public and private, at somewhere in the seven to eight trillion dollar range. So it's less than 10% of the global equity cap, public and private. We beli…”
Cathie Wood Nov 14, 2022 ▶ 45:47 Cathie Wood: Elon & Twitter; Why Facebook is a Value Stock Now; ARK's Performance | 20VC #949 · 20VC with Harry Stebbings
Opinion
Wood: Passive index investing has reached an extreme and dangerous level
“And I think even though the onus or the burden of proof is on us because passive has done so well. Over the past 20 years, it's been self-fulfilling as more and more assets moved into passive or benchmark sensitive. I think the pendulum has swung too far, and …”
Cathie Wood Nov 14, 2022 ▶ 3:14 Cathie Wood: Elon & Twitter; Why Facebook is a Value Stock Now; ARK's Performance | 20VC #949 · 20VC with Harry Stebbings
Opinion
Wood: Institutional asset allocators hold a massive short on disruptive innovation
“We're giving asset allocators an opportunity to make up for the massive short that we believe they have in their portfolios. And that short is truly disruptive innovation.”
Cathie Wood Nov 14, 2022 ▶ 21:09 Cathie Wood: Elon & Twitter; Why Facebook is a Value Stock Now; ARK's Performance | 20VC #949 · 20VC with Harry Stebbings
Opinion
Wood: Wealth-based SEC investor accreditation rules are un-American
“It's truly not American to use income and asset thresholds when knowledge could be an accreditation, ah, measure or metric.”
Cathie Wood Nov 14, 2022 ▶ 30:22 Cathie Wood: Elon & Twitter; Why Facebook is a Value Stock Now; ARK's Performance | 20VC #949 · 20VC with Harry Stebbings
Prediction Not checkable as stated
Wood: ARK outperformance signals market is nearing the end of a bear market
“Our strategies are starting to outperform now on days When some of these big benchmarks don't, and that's what usually happens as we're coming towards the end of a bear market.”
Cathie Wood Nov 14, 2022 ▶ 19:42 Cathie Wood: Elon & Twitter; Why Facebook is a Value Stock Now; ARK's Performance | 20VC #949 · 20VC with Harry Stebbings
Assertion Partly supported
Wood: ExxonMobil mines Bitcoin to capture flared gas in six fields
“So Exxon's doing that. It's six different, maybe many more now, fields around the world.”
Cathie Wood Nov 14, 2022 ▶ 42:14 Cathie Wood: Elon & Twitter; Why Facebook is a Value Stock Now; ARK's Performance | 20VC #949 · 20VC with Harry Stebbings
Disclosure
Wood: Personal portfolio is all-in on innovation, crypto, and private funds
“I think advisors looking at how I have positioned my own portfolio are shocked at how much I'm all in to innovation. Between our funds crypto and private funds.”
Cathie Wood Nov 14, 2022 ▶ 54:26 Cathie Wood: Elon & Twitter; Why Facebook is a Value Stock Now; ARK's Performance | 20VC #949 · 20VC with Harry Stebbings
Opinion
Wood: Tesla stock does not price in its massive autonomous opportunity
“Because we believe the autonomous opportunity is massive and is not priced at all in Tesla stock we would still put Tesla near the top or at the top of the pack.”
Cathie Wood Nov 14, 2022 ▶ 55:32 Cathie Wood: Elon & Twitter; Why Facebook is a Value Stock Now; ARK's Performance | 20VC #949 · 20VC with Harry Stebbings
Prediction Not checkable as stated
Cathie Wood Expects Significant Private Market Drawdowns
“What I do believe could be a set of significant drawdowns in the private world that has already happened in the public world.”
Cathie Wood Nov 14, 2022 ▶ 8:31 Cathie Wood: Elon & Twitter; Why Facebook is a Value Stock Now; ARK's Performance | 20VC #949 · 20VC with Harry Stebbings
Prediction Held up
ARK Venture Fund Targets 75% Private, 25% Public Allocation
“Our desire is to get it close to 75% private and 25% public to allow more liquidity.”
Cathie Wood Nov 14, 2022 ▶ 8:53 Cathie Wood: Elon & Twitter; Why Facebook is a Value Stock Now; ARK's Performance | 20VC #949 · 20VC with Harry Stebbings
Opinion
Cathie Wood: Private Markets Value Innovation Better Than Public Markets
“The private markets have innovation more right in terms of valuation than the public markets do.”
Cathie Wood Nov 14, 2022 ▶ 9:36 Cathie Wood: Elon & Twitter; Why Facebook is a Value Stock Now; ARK's Performance | 20VC #949 · 20VC with Harry Stebbings
Prediction Not checkable as stated
Cathie Wood: Fundamentals Will Disrupt Benchmark Investing Within Years
“Fundamentals are going to disrupt that way of thinking during the next few years.”
Cathie Wood Nov 14, 2022 ▶ 10:28 Cathie Wood: Elon & Twitter; Why Facebook is a Value Stock Now; ARK's Performance | 20VC #949 · 20VC with Harry Stebbings
Insight
Wood: 80-90% stock drops increase expected five-year total returns
“What we see as our stocks go down 80 to 90%, if we're right we're seeing the total rate of return expectation increase for the next five years.”
Cathie Wood Nov 14, 2022 ▶ 11:41 Cathie Wood: Elon & Twitter; Why Facebook is a Value Stock Now; ARK's Performance | 20VC #949 · 20VC with Harry Stebbings
Assertion Supported
Wood: ARK cut flagship ARKK holdings from 58 to 32 names
“So we've moved our flagship portfolio ARKK from 58 names down to 32, 33 names and we're further consolidating in this risk-off period, but we tend to bottom out in that low thirties range.”
Cathie Wood Nov 14, 2022 ▶ 12:31 Cathie Wood: Elon & Twitter; Why Facebook is a Value Stock Now; ARK's Performance | 20VC #949 · 20VC with Harry Stebbings
Prediction Not checkable as stated
Cathie Wood: Invitae will become a top molecular diagnostic testing company
“And we think they have streamlined and are going to become one of the most, if not the most important molecular diagnostic testing company.”
Cathie Wood Nov 14, 2022 ▶ 14:39 Cathie Wood: Elon & Twitter; Why Facebook is a Value Stock Now; ARK's Performance | 20VC #949 · 20VC with Harry Stebbings
Disclosure
Wood: ARK completely sold Nvidia before buying back after stock tumbled
“We ended up selling out of Nvidia and only recently since it has had a tumble. Have we re-initiated our position?”
Cathie Wood Nov 14, 2022 ▶ 16:45 Cathie Wood: Elon & Twitter; Why Facebook is a Value Stock Now; ARK's Performance | 20VC #949 · 20VC with Harry Stebbings
Opinion
Wood: ARK has the best innovation analyst team in the world
“I do believe we have the best analyst team when it comes to innovation in the world, and the reason we do is because their responsibilities are broken out not by sector or industry, but by technology.”
Cathie Wood Nov 14, 2022 ▶ 17:24 Cathie Wood: Elon & Twitter; Why Facebook is a Value Stock Now; ARK's Performance | 20VC #949 · 20VC with Harry Stebbings
Opinion
Cathie Wood: Equity benchmark stocks represent past success, not future growth
“Whereas these benchmark stocks are more about the past and their past successes.”
Cathie Wood Nov 14, 2022 ▶ 22:33 Cathie Wood: Elon & Twitter; Why Facebook is a Value Stock Now; ARK's Performance | 20VC #949 · 20VC with Harry Stebbings
Assertion Supported
Wood: ARK lost under $1 billion in net outflows in 2022
“This year, we haven't even outflowed one billion, you know, out of that seventeen billion.”
Cathie Wood Nov 14, 2022 ▶ 25:37 Cathie Wood: Elon & Twitter; Why Facebook is a Value Stock Now; ARK's Performance | 20VC #949 · 20VC with Harry Stebbings
Prediction Not checkable as stated
Wood: Withholding research will be seen as provincial within 3 to 5 years
“And I think it will be Considered a very provincial in let's say three to five years time to hear a firm saying, well, we don't share any of our research because it's our secret sauce.”
Cathie Wood Nov 14, 2022 ▶ 27:30 Cathie Wood: Elon & Twitter; Why Facebook is a Value Stock Now; ARK's Performance | 20VC #949 · 20VC with Harry Stebbings
Opinion
Wood: Retail Investors Often Know More About Innovation Than Institutional LPs
“If we were to use knowledge as the metric for accreditation the accredited investors for ARC Would be those retail investors. They have, they are passionate about innovation, and they know so much about it, and many of them are working in the industry or in th…”
Cathie Wood Nov 14, 2022 ▶ 29:36 Cathie Wood: Elon & Twitter; Why Facebook is a Value Stock Now; ARK's Performance | 20VC #949 · 20VC with Harry Stebbings
Assertion Supported
Wood: Investors pay 40% more fees in traditional VC than ARK
“If you were to compare our fees all in management fees all in the 2.75 versus the venture venture two and 20, That top quartile fund you would have to pay 40% more in fees over time.”
Cathie Wood Nov 14, 2022 ▶ 35:09 Cathie Wood: Elon & Twitter; Why Facebook is a Value Stock Now; ARK's Performance | 20VC #949 · 20VC with Harry Stebbings
Assertion Partly supported
Wood: ARK Venture Fund marks all holdings to market daily
“They will be able to look at their portfolios here every day now, and because everything will be marked to market every day.”
Cathie Wood Nov 14, 2022 ▶ 47:51 Cathie Wood: Elon & Twitter; Why Facebook is a Value Stock Now; ARK's Performance | 20VC #949 · 20VC with Harry Stebbings
Disclosure
Cathie Wood: ARK averages down and concentrates portfolios in market drawdowns
“We average down during risk off periods, and we also concentrate our portfolios towards our highest conviction names.”
Cathie Wood Nov 14, 2022 ▶ 12:21 Cathie Wood: Elon & Twitter; Why Facebook is a Value Stock Now; ARK's Performance | 20VC #949 · 20VC with Harry Stebbings

Show 16statements(16 left)

The other half of the tape: Cathie Wood's own voice is left out of every number here. Other people bring the name up 1 time in 1 episode on 20VC. every mention, with the transcript →

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Appearances (1)

EpisodeDateSpeaking time
Cathie Wood: Elon & Twitter; Why Facebook is a Value Stock Now; ARK's Performance | 20VC # Nov 14, 2022 45m
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