Asks about 2025 performance lessons and outlook for major holdings like Tesla and crypto.
Host
Cathie Wood
ARK had top-performing funds in 2025 despite two corrections (trade turmoil, government shutdown), which were buying opportunities to concentrate on high-conviction names.
Cathie Wood
Inflation is coming down in reality but stuck in reported numbers, with markets at near-record high valuations - a setup for a correction.
Cathie Wood
Must assume valuations will compress, which ARK incorporates in bottom-up analysis for every company.
Cathie Wood
Excited about inflation outlook due to deflationary pressures: falling oil prices, housing prices (KB Home cutting 7%), productivity gains, negative unit labor costs, and technology innovation.
Cathie Wood
Surprises will be on the low side of inflation expectations.
Asks about Tesla's current position given challenged EV sales but excitement about autonomy and Optimus robot.
Host
Cathie Wood
Market shifting focus from EV sales to robotaxi opportunity, moving from 15% auto margins to 70-80% SaaS-like recurring revenue margins.
Questions timeline for autonomous robotaxis and robots given current EV challenges and ambitious efforts.
Host
Cathie Wood
Tesla's footprint expanding faster than expected; robotaxis will happen faster than most analysts think, especially with federal legislation.
Asks about Bitcoin and SpaceX valuation for potential IPO.
Host
Cathie Wood
SpaceX next round at $800B, could become first trillion-dollar company with data centers in space opportunity.