This Cathie Wood Stock Is Soaring Magnificently, and It Could Make You Rich Over Time
Cathie Wood, the founder and CEO of investment management company Ark Invest, is a widely followed investor on Wall Street thanks to her strategy of buying shares of companies capable of disruptive innovation, which she believes could yield solid returns in the long run.
Wood's flagship fund, the Ark Innovation ETF, has benefited from this strategy in 2023, logging impressive gains of 70%. Of course, the famous investor's philosophy of buying high-risk, high-reward companies also means that there will be periods of volatility, which is evident from the big beating Wood's funds took in 2022. That explains why Wood has an investment timeline of five years, which allows her investments to ride through periods of volatility.
The good part is that Wood's investments could benefit from a favorable stock market scenario in 2024. A potential cut in interest rates by the Federal Reserve could give growth stocks a nice shot in the arm in the New Year, which is why investors may want to buy one of Wood's top 10 holdings before it jumps higher.
Source Fool.com
