Cathie Wood

They have no idea.

We're passionate about it.

And so we've gotten more vocal and this administration is certainly becoming more vocal and more focused on this particular idea because it is un-American, right?

You have to meet

And it makes no sense.

And I do think it's going to change.

And I think this administration will change.

I mean, I used to say, you know, it would be what we're doing in the investment world right now would be the equivalent of saying you can't drive because you don't make enough money or you do not have enough net worth.

Take a test.

Yes.

So the risk question, obviously we get a lot because our portfolios are volatile.

They don't look like the benchmarks.

And when markets get into a bearish period, investors tend to hug their benchmarks and we're moving in the opposite direction.

So I just want to say we do what we do, and that's what our advisors expect.

They don't expect us to raise cash or do anything.

That's their decision, right?

In terms of what we do to control risk, during bear markets, we will concentrate towards our highest conviction names.

We have a scoring system.

based on management, execution, moat or barriers to entry, product service leadership, valuation importantly, and thesis risk.

So with those scores, we concentrate.