Even if Tesla’s state falls, “God’s will”… this is the mentality of the’Money Tree’ sister

This is a recent article posted on an online community of people who invest in US stocks. ‘Money Tree’ refers to Kathy Wood, 65, the CEO of Arc Invest, a renowned investment strategist in the United States. His name, Cathie, is similar to’cash’ which means’cash’, and Wood, the last name, is a nickname based on the point that it is’tree’.

Wood is a leading investor who also described the Financial Times (FT) as “a person like a leader of a cult religion” on the 13th (local time). Wood’s CEO currently owns $250 million in assets, according to Forbes, with $29 billion in funding from Arc Invest. The question above was raised to the domestic online investment community when the stock price of Tesla, an electric vehicle maker, which is Wood’s flagship item, plummeted.

The representative person who preached the Gospel of Tesla was’the money tree sister’, or CEO Wood. From 2018, when Tesla didn’t get much attention, he predicted that “in the long run, Tesla’s share price will reach $4,000 per share.” Tesla maintained its $800 mark after splitting it by a fifth of last year, and his predictions were true. However, it was up to last year.

Tesla, which soared to $880 per share (about 990,000 won) in early January of this year, fell to $563 on the 8th of this month, dropping by about 36%. As of the 19th, although it recovered to the $653 level in after-hours trading, Tesla investors have a bitter taste. Tesla was the most invested item by domestic US stock investors, called’Seohak Ant’. Wood CEO’s Arc Invest also once recorded a 30% decline in revenue due to the Tesla decline.

Was Wood CEO’s mentality shaken like the above question? The correct answer seems to be’no’. FT titled the article on the 13th, when the Tesla stock price continued to decline. ‘Cash Wood: A tech investor doing God’s work.’ According to the FT, it is likely that Wood is strengthening his mentality by praying rather than being robbed of his mentality right now. In this article reviewing the webinar of Arc Invest, FT said, “A devout Christian, Wood begins his daily routine with reading the Bible while making coffee. I solidified the belief that it is the will,” he said. Wood’s devotion was inherited from his parents. He said he was an Irish-American, and FT had a strong belief that “can do”.

Wood, however, stands on the opposite side of the type who waits for everything to be done by God’s will. He reads the will of God in advance and moves aggressively. His philosophy is to read the trends of the times in advance, and in that sense, Arc Invest has aggressively bought companies with innovative DNA that are ahead of the times. Tesla is representative. “Cash is a dreamer and a person who constantly researches and studies,” said Lisa Schwartz, CIO of Morgan Stanley, a global investment bank. There is,” he said.

What is his opinion on Tesla’s recent bear market? FT described him as “not being shaken at all.” In fact, Wood’s theme is’Buy the dip’. In a webinar, Mr. Wood said, “I have gone through a lot of ups and downs from my previous investment career, and each time I learned a lesson. It’s important to move in a way.” It remains to be seen whether his investment results will come out according to God’s will.

Reporter Jeon Sujin [email protected]