U.S. equity outlook and portfolio positioning - Kyle Weaver

July 28, 2020

Portfolio manager Kyle Weaver provides an in-depth look at the current state of the market and his outlook for U.S. equities. For Canadian investors, Kyle manages Fidelity U.S. Growth Opportunities Class, and is portfolio co-manager of Fidelity NorthStar® Fund, alongside Joel Tillinghast and Dan Dupont. Kyle is a growth investor who deeply believes in value. He’s finding stocks that are trading at what he thinks will be an extremely low multiple of future earnings in three, five, seven and ten years. Kyle says the shutdown we’ve seen over the last few months has accelerated the secular trends that his Fund had already invested in. As a result, the composition of the Fund today is similar to what it was going into the crisis. Kyle notes that the Fund owns e-commerce names who experienced great dislocation in their stock prices but an acceleration in their prospects. With regard to political developments, Kyle tries to own businesses that he believes will remain strong no matter who is in office. In general, he focuses on models that aren’t dependent on interest rates, gas prices, geopolitics or other unpredictable factors.

Recorded on July 21, 2020.