Renowned investor Cathie Wood’s risky investment bets delivered substantial returns in 2020. She recently added shares of Roblox (RBLX), UiPath (PATH), Robinhood (NASDAQ:HOOD), and PagerDuty (NYSE:PD) to her portfolio because she expects these stocks to combat current macroeconomic headwinds and deliver double-digit returns over the long run. Read on.Cathie Wood, the founder of investment management firm Ark Invest, recently bought several stocks that have been underperforming the markets. And yet, her flagship fund ARK Innovation ETF (ARKK) gained 1.1% over the past week. Regarding this, Wood said in an interview, “With a five-year investment time horizon, our forecasts for these platforms suggest that our strategies today could deliver a 30-40% compound annual rate of return during the next five years.”
Wood is currently betting on Roblox Corporation (RBLX), UiPath Inc. (PATH), Robinhood Markets , Inc. (HOOD), and PagerDuty, Inc. (PD).
Wood believes these companies possess immense growth potential and will combat current market headwinds and capitalize on the industry’s tailwinds in the long run.