The US is in an economic downturn and she admitted that she underestimated the power of inflation.
Wood said on CNBC that they think we are in a recession. The increase of inventories is something we think is a big problem. I've been around for a long time.
The investor said that she had expected inflation to be cooler due to supply chain disruptions.
Wood said that they were wrong about inflation being as sustained as it's been. The supply chain. I can't believe it's been more than two years since Russia invaded Ukraine. deflation has been set up by inflation.
The consumer price index rose 8.6% in May, the fastest increase in more than 30 years.
Sentiment data has fallen to record lows as consumers feel the rapid price increases. The University of Michigan's surveys of consumers showed a reading of 50 in June, the lowest level ever.
In the face of rising interest rates, the popular investor's disruptive technology darlings have been among the worst performers. The flagship active fund is down over 50% this year and has fallen from its record high.
Wood said that most of her clients are sticking with her and that new money is coming in as investors look for alternative investments. In June, the ArKK had more than $170 million inflow.
Wood said that clients have been shifting away from broad-based bench marks. We are dedicated to disrupting the status quo. There are problems that innovation solutions solve.
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