Cathie Wood. ARK Investment Management
Cathie Wood praised Tesla's growth prospects, and predicted that Zoom would overtake Cisco.
Ark's chief investor also praised Robinhood, and dismissed concerns about a bubble in the market.
Wood replied to John Paulson’s dismissal, arguing that bitcoin is more than just digital gold.
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Cathie Wood, who predicted that Tesla's stock would quadruple within four years, suggested Zoom could take over legacy companies like Cisco and enterprise communications. She also praised Robinhood in a Yahoo Finance interview this past week, claiming that Robinhood has attracted young people to invest in the company.
Ark Invest's chief stock picker and chief investor at Ark Invest also addressed the recent dismissal by billionaire John Paulson of cryptocurrencies. She dismissed concerns about market bubbles and reiterated her belief that a technological revolution was on its way.
These are Wood's 8 favorite quotes from the interview. They have been lightly edited and condensed to make them more concise.
1. "Our base case for Tesla's success is $3,000," Wood predicts that Elon Musk's electric vehicle company will quadruple its market capitalization at nearly $3 trillion by 2025. This is partly due to its "fairly dramatic" increase in global market share over the past five years.
2. Many people view Zoom as a simple video chat. We believe it will start to take more of the technology communications stack. Zoom is poised to take over the Cisco role. Zoom is not only about hybrids and video, but it's also about stay-at home or hybrids.
3. Robinhood has changed the way people think about investing and learn by doing it. They have tried out different options and lost a lot of money quickly. Robinhood is a wonderful service for the investment community.
4. "John Paulson made an amazing call during the mortgage crisis. We think Paulson is missing something about cryptocurrencies. They are more than just a store of value and digital gold. Bitcoin is a global, new monetary system that is entirely decentralized and is not subject to policymakers' will.
5. "If regulators can agree on what these cryptocurrencies are and how they should be defined, it will be a positive thing." This ecosystem will benefit from certainty.
6. "This is the echo the baby boom. It was a wonderful experience to have lived through the boom years and the equity-market movement. We are now in the same place, I believe. Predicting the bull market will continue for another ten years.
7. "We've never seen five major innovation platforms in our history, with 14 different technologies all moving into "S curves," the curves feeding each other. We are in an era of rapid innovation.
8. "Are we in a bubble? It couldn't be more different. Investors don't realize how exciting the next five to fifteen years will be. These S curves feed each other and lead to exponential growth trajectories like we have never experienced before.