5 Money Managers Discuss Offense And Defense In Today's Volatile Global Market
The key to success in investing is to carry out strategies that survive during downturns and deliver during upturns.
Five top money managers discussed their current strategies at Fidelity’s recent Inside/Out roundtable. They talk about playing both offense and defense and reveal where they are looking for opportunities.
J. Dennis Delafield, senior portfolio manager at Tocqueville Asset Management L.P., advises holding cash until prices bottom out again; Lawrence D. Rakers, portfolio manager for Fidelity Management & Research Co., discusses searching for stocks with more upside than downside; Greg Hopper, head of high yield strategy at of Artio Global Management LLC, says high-yield bonds may offer greater potential than equities; Charles L. Myers, portfolio manager for Fidelity Management & Research Co., is focusing on stocks with low expectations and counseling patience; and Wallace R. Weitz, president of Wallace R. Weitz & Co., advises making peace with volatility.
The discussion also touches on recession-proof sectors, inflation protection, emerging market corporate bonds, Europe, homebuilding, financials, energy plays and reinsurers.