On the contrary, technology-driven innovations could culminate in a number of benefits for the economy. "Better, cheaper, faster, more productive, more creative - why would you go back to the old way of doing things." "Once the market share shifts as dramatically as it has towards the innovations around which we focus our research all the time, there is no going back," she said. Though COVID-19 has also turbocharged explosive innovation growth this year, Wood is not worried about a similar pullback of the disruptive innovation platforms that underpin her portfolios. "There may be businesses that misread what's happening there, and they'll find that their inventories are beginning to bloat especially on the durables and nondurable-goods side, and they may start to pull back as their own confidence diminishes." What could go right in 2021 "We may next year go through a period where those take a bit of a rest and we get a catch-up in services," she said. "If we start raising tax rates, I think a lot of innovation will move offshore."Īnother risk is the potential pullback from the "explosive" housing and capital spending, as well as consumer spending on durable and nondurable goods this year as a result of the COVID-19 crisis. "It would be quite concerning if we were back in a rising-tax environment, especially given the competition that we're now seeing from Asia - especially on the innovation front, which is surprising to some," Wood said in a Tuesday markets-update webinar. Visit Business Insider's homepage for more stories.Įver a contrarian investor, ARK CEO Cathie Wood is looking at what could go wrong in 2021 as Wall Street strategists have more or less promised a bright market outlook for the year ahead.Īmong the biggest risks are the Georgia Senate runoff elections on January 5, which are expected to lead to a gridlocked government that squashes the chance of an increase in capital-gains-tax rates, corporate-tax rates, and regulations proposed by the Democrats.Wood and her team also dived into Tesla's $5 billion stock sale, Salesforce's purchase of the workplace messaging app Slack, and where bitcoin could end up in 2021.Cathie Wood, the CEO and chief investment officer of ARK Invest, shared her outlook for risks and positive factors for the markets and economy in 2021 on a Tuesday markets-update webinar.Account icon An icon in the shape of a person's head and shoulders.
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