Episodes
Wednesday Nov 23, 2022
Contrarian investing in volatile markets – Hugo Lavallée
Wednesday Nov 23, 2022
Wednesday Nov 23, 2022
Joining the show today is Hugo Lavallée, Montreal-based Fidelity Canada portfolio manager. Hugo joins host Pamela Ritchie for a portfolio update and a look at how he is applying his contrarian investing style to his funds in this year’s choppy markets. Hugo recently celebrated his 20-year anniversary with Fidelity and has long-managed Fidelity Greater Canada Fund and Canadian Opportunities Fund. He also manages Fidelity Climate Leadership Fund, launched in May 2021, which is a global equity strategy designed to reduce the risks and benefit from opportunities created by the global decarbonization trend. As 2022 comes to a close, it’s important to highlight and dissect areas of the market that gained momentum and investor interest, to help shape the trends of 2023. One area that continues to gain traction is the ESG movement. Hugo and Pamela unpack what ESG strategies advisors and investors should consider leading into 2023, and look at what’s on the horizon for climate leadership in the new year. Reflecting on his current positioning, Hugo shares that his European exposure is growing as there is an opportunity to create a double positive involving both capital gain on stocks and exchange rates. He also notes that he and his team look to find strong companies at a cheap valuation as the market dampens, sharing that when the market is uncomfortable it leads you to buy cheap stocks, and the stocks are cheap because they are uncomfortable.
Recorded on November 15, 2022.
Transcript (PDF): https://www.fidelity.ca/content/dam/fidelity/en/documents/transcripts/transcript-podcast-fidelityconnects-lavallee-nov15-22.pdf
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