Cathie Wood is the founder and CEO at ARK Investment Management LLC. She spoke during the Skybridge Capital New York 2021 conference. It was held in New York City on September 13, 2021.
Cathie Wood, a closely followed investor in innovation, stated that the migration trend manifesting itself within her company is more evidence that investors should be afraid of deflation than inflation.
Wood, founder and CEO of ARK Invest, is moving her investment company's headquarters from Chicago to St. Petersburg, Florida, on November 1. According to the disruptive innovator investor, inflation should be controlled by individuals and businesses moving to cheaper areas.
Wood stated Tuesday that the cost of living in St. Petersburg is between 20% and 40% lower than New York City, which includes rents.
"The exodus or the great migration is from high-rent areas to lower rents. She explained that there will be a mixed effect that many people don't consider when they think about inflation.
Wood has made it clear that she believes in deflation. While rising prices are a concern for many market participants, ARK Invest founder Wood expects deflation in the face of falling commodity prices, Washington gridlock regarding tax policy, and the emergence of innovation trends.