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When it comes to valuing disruptive innovation, private markets seem to understand the opportunity better than the stock market, according to Cathie Wood, founder and chief executive of ARK Investment Management.
“Private markets get it,” Wood said Tuesday while on stage at the Exchange ETF conference in Miami, referring to company valuations seen in venture capital deals. But ARK’s stock-market bets on disruptive innovation have sunk this year, even as Wood maintains that fundamentals, for the most part, have “not deteriorated.”
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