Mark Schmehl, portfolio manager of Fidelity Global Innovators Class, Fidelity Canadian Growth Company and Fidelity Special Situations Fund, discusses his thoughts on the recent tech sell-off and the upcoming U.S. election. He also discusses the biggest trends in today’s market, including work-from-home, ESG and travel, and how they affect his portfolios. Mark looks for fast growth, and companies that are disrupting industries. His portfolio turnover has always been around 200% yearly. He is constantly moving things around and sifting through various ideas to find what works best for him at any given time. Mark believes that whether or not the coronavirus is here to stay, WFH is no longer cyclical, but rather a new way of working. Companies have to enable their entire workforce to WFH at least a few days a week, and he is doubtful this trend will go away once the virus goes away. Technology such as Zoom will still be relevant, and he thinks many of the other changes we’ve seen as a result of WFH will also be permanent. Also, Mark is interested in searching globally for different themes. He is more interested in thematic and secular change than in specific geographic areas.
Recorded on September 10, 2020.