Ark Invest’s Cathie Wood touts Tesla and Zoom, dismisses bubble fears and responds to John Paulson’s bitcoin criticism in a new interview. Here are the 8 best quotes.
- Cathie Wood trumpeted Tesla’s growth prospects and predicted that Zoom would usurp Cisco.
- Ark’s chief investment officer also praised Robinhood and dismissed concerns of a stock market bubble.
- Wood responded to John Paulson’s rejection of crypto, arguing that bitcoin is more than digital gold.
- See more stories on the Insider business page.
Cathie Wood predicted Tesla’s stock price would quadruple in about four years, suggested Zoom could replace traditional companies like Cisco in corporate communications, and praised Robinhood for luring young people to invest in an interview Yahoo Finance this week.
Ark Invest chief and popular stock picker also responded to the recent rejection of cryptocurrencies by billionaire investor John Paulson, allayed concerns about market bubbles and reiterated his view that a revolution technology is coming.
Here are Wood’s 8 best quotes from the interview, slightly edited and condensed for clarity:
1. “Our baseline scenario for Tesla is $ 3,000. “- Wood expects Elon Musk’s electric vehicle company to quadruple its market cap to nearly $ 3 trillion by 2025, in part because its global market share has grown “quite dramatically” in the past. over the past five years.
2. “A lot of people think Zoom is nothing more than these video sessions. We think it will start to take a bigger slice of the communication stack in technology. Zoom is on the way to spoofing it. role of players like Cisco. It’s not just video and stay at home or even hybrid, it’s much bigger than that. “
3. “Robinhood has introduced a whole new generation to investing, thinking about their future, and learning the hard way. Some have experimented with options – it doesn’t take long to waste a lot of money on options. , and they learn quickly. I actually think Robinhood has done the investment community a great service. “
4. “John Paulson made an amazing call during the mortgage crisis. What we think is missing about cryptocurrencies is that they are much more than a store of value or gold. Bitcoin is a new global monetary system that is completely decentralized and not subject to the whims of policymakers.
5. “If the regulators get together and agree on what exactly these cryptocurrencies are, how to define them, that will be a good thing. Certainty will be a good thing for this ecosystem.”
6. “It’s the echo of the baby boom. I lived through the baby boom years and this movement in the stock markets, it was wonderful. I feel like we are in the same place now. ” – predicting that the bull market will continue for another decade.
7. “We have never been in a period of history where we have had five major innovation platforms, involving 14 different technologies, all moving in ‘S’ curves, the curves feeding on each other. the others. We are in a period of explosive innovation. “
8. “Are we in a bubble? We couldn’t be further. The average investor doesn’t understand how challenging the next five to fifteen years is going to be, as these S-curves feed off each other and enter exponential growth trajectories that we’ve never seen before. “