Cathie Wood says she still expects to see ‘spectacular returns’ over the next 5 years

She said she seesspectacular returns for Ark Invest over the next five years.

The Ark Invest CEO told CNBC that they are going to see some spectacular returns.

She said the firm has seen a lot of money since January 17.

She said that a lot of the investor base is down. Averaging down is the investment strategy of buying more units of an asset when its price goes down.

If you average down over time, you will be amazed at how quickly a strategy can come back above average. If we are correct, we will be significantly above that average over the next five years.

Her firm's flagship fund was caught in the recent tech-led sell-off. In the past year, the Ark InnovationETF has halved.

She admitted that the market for innovation has been in a terrible bear market.

Wood said the world is facing a lot of problems and innovation is the answer.

The war in Ukraine has caused a surge in the prices of some commodities. Wood said the conflict will lead to a lot of demand destruction and substitution into innovation, such as a switch toward electric vehicles away from those that are gas-powered.

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