Warren Buffett and Cathie Wood are polar opposites when it comes to investing. The former is a stock-picking legend with a history of skepticism of hyped-up technology concerns, while the latter seemingly can’t get enough of them.
That’s actually a good thing for Stephanie Link, chief investment strategist at wealth management firm Hightower Advisors, who says she has both in the $1 billion division she manages. “When you run money, you want to be very diversified,” she said in an interview. “These two strategies from Warren and Cathie could not be any more different. It really is the definition of diversification.”
Each have cult followings—Buffett’s flock to see him at the company’s annual meeting, while Wood’s show their adoration on Twitter and TikTok. Lately the funds managed by Wood, the founder of ARK Invest, have blown away the stock of Berkshire Hathaway, Buffet’s $565 billion conglomerate that owns America’s largest railroad, as well as stakes in everything from Coca-Cola to Chevron. Since it was created in October 2014, Wood’s flagship Innovation exchange traded fund has rallied more than 500%, while Berkshire’s A shares have gained about 80%.
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