Taking Stock - After The Bell High Fidelity
Oct 6, 2025
In this engaging conversation, Alex Wright, a seasoned fund manager at Fidelity, shares insights from his extensive experience in value investing. He discusses the UK market's surprising resilience and what attracts US investors, given its robust fundamentals. Alex highlights the growing interest in mid- and small-cap stocks and the implications of geopolitical shifts on returns. He also dives into the allure of buying out-of-favor sectors and how AI is starting to reshape investment research, making this chat a treasure trove for investment enthusiasts!
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Early Career Shaped By Major Crises
- Alex began his career the day before 9/11 and started managing money just before the global financial crisis.
- Early career volatility and the GFC deeply shaped his approach to risk and fund management.
Geopolitics Reversing Globalization Trends
- Geopolitical reversal of globalization means lower growth and higher inflation long term.
- Alex expects these trends to be negative for financial assets and long-term returns versus past decades.
Retail FOMO Signals Late-Cycle Risk
- Retail investor participation and 'buy the dip' behavior amplify late-cycle risks and bubbles.
- Alex sees rising retail activity as a negative sign that often appears near market peaks.