(Sept 23): Cathie Wood would sell Tesla Inc. if its price hit her five-year target in the coming year. The electric-vehicle maker’s stock is now roughly US$750 and her base price target in five years is US$3,000, she said. At the session, she debated veteran investor Rob Arnott, who has been skeptical of high valuation growth stocks like Tesla. Arnott, the chairman of Research Affiliates, asked Wood how investment managers should decide when to get out of positions. It’s been a dramatic year for Wood after her firm’s exchange-traded funds beat most of the U.S. market last year.
