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Fidelity Answers: The Investment Podcast
Rich Pickings: What the lessons of 2023 can teach investors for the year ahead
Dec 21, 2023
Portfolio managers discuss the divided market in 2023, the success of big tech stocks, the resilience of economies, and investment opportunities in Asia. They also explore the development of Japan's economy, concerns about the European market, and share their investment strategies for the year ahead.
39:56
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Quick takeaways
- The US economy displayed resilience in 2023, supported by excess savings and income growth, but potential cracks in the credit market could impact its resilience and increase the probability of a recession in 2024.
- The widespread adoption of artificial intelligence (AI) is benefiting companies involved in the lower layers of the industry, but investor attention should also be focused on the development and commercialization of AI applications and the regulatory and legal challenges that may arise.
Deep dives
The year 2023 showed a divided landscape in the market with different sectors performing in opposite directions.
The year 2023 showcased a divided landscape in the market, with various sectors acting in different manners, sometimes even in opposite directions. For example, while global equities generated almost 20% for the year, global bonds only achieved low single-digit returns. This division was also evident in the Magnificent 7 or Big Tech stocks, which outperformed the rest of the stock market.
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