Expert Insights

Ask any professional investor what the most important attributes are to consider when assessing a new investment and “quality of management” is likely to feature high on their list. For the average investor though, assessing the quality of management is no easy task. Amit Lodha, Portfolio Manager at the Fidelity... Show More

Amit Lodha

With 2020 just 13 months away, now is a great time to take a step back and think about the long-term. 10 years ago, the top 10 companies in the world were dominated by energy and Chinese companies. Today, seven of the top 10 companies are technology companies. In this... Show More

Amit Lodha

I have just returned from Fidelity’s annual bespoke Silicon Valley bus tour, where the team has spent time with 26 companies and their top management. Despite all the market noise around the recent NASDAQ sell-off, this trip has provided confirmation that the pace of innovation coming out of this part... Show More

Asset Allocation

With the 2020s just 15 months away, now is a great time to take a step back and think about the long-term. 10 years ago, the top 10 companies in the world were dominated by energy companies, and Chinese companies. Today, seven of the top 10 companies are technology companies. “When... Show More

Education

When looking for potential problems in a company, the first place to look is the balance sheet. Amit Lodha, Portfolio Manager at the Fidelity Global Equities Fund, says that when looking for problems in the equity markets, investors should watch the markets’ ‘balance sheet’ – fixed income markets. Key points: The... Show More

- I think you make an excellent point regarding the synergies between Google and Waymo reference the technology. - however I think this is also a very different business from core google search and advertising. - the reasons to separate this would be A) focussed management and incentivization structure B) it could be potentially possible that Waymo would require a significant amount of capex - for autonomous taxi services for example - it would be better funded (for both shareholders) of Alphabets balance sheet C) data sharing between all of alphabets properties has to follow very strict regulations. For eg there are strict regulations on how YouTube data is shared with google search for advertising and re-targeting I would have also said value unlocking for Alphabet shareholders but knowing the management team I don’t think this would be a driving factor for them. Obviously all the above is really in the realm of conjecture so it would be an interesting journey to observe but in my opinion you have asked a question on the most interesting aspect of the Waymo path so thank you for that.

On 3 compelling industries over the next decade -