FidelityConnects

On the show today, director of Global Macro Jurrien Timmer joins us to take an in-depth look at the earnings season. The current expectation is a 9% year-over-year contraction in Q2 earnings. Jurrien explains how the market is betting on a soft landing, and looks ahead at the prospect of an earnings recovery next year. Also discussed are the impact of real rates on the market, especially as seen in the prices of gold and bitcoin. Other topics include the relationship between inflation and the labor unrest in the US and Canada, the state of investing in Asia, particularly China, and a look at the performance of the so-called 'magnificent seven' stocks.

Recorded on July 10th, 2023.

At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.

For the second year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2022 Environics’ Advisor Digital Experience Study.

Today on the podcast, we put the spotlight on disruptive innovation and how the Fidelity Disruption Funds capitalize on global trends and gain exposure to an innovative way to invest with long-term trends, values and strategies. Charlie Hebard and Michael Kim, portfolio managers from the team behind Fidelity Disruptors Class, Fidelity Disruptive Automation Class, and Fidelity Long-Term Leaders Fund speak with host Bryan Borzykowski about industry trends and how these future leaders are identified. The funds focus on the long-term investment thesis of each company, not necessarily expecting them to be disruptors during the next year, but later on in each company’s life cycle.

Recorded on July 6, 2023.

At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.

For the second year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2022 Environics’ Advisor Digital Experience Study.

Today on the podcast, Equity Research Analysts Robert Reynolds and Claire Fleming put the spotlight on the global implications of China’s new export rules, and other themes shaping the industrial and materials sector. Robert, who covers Canadian industrials, says that things like the prices-paid measures are coming down a bit, indicating that the Fed may be taking their foot off the gas at some point this year. They also explain to host Bryan Borzykowski that the industrial economy has been slowing down for the past eight or nine months, with freight companies experiencing recession-like conditions without an overall recession. Claire, who covers materials, says her research strategy is centered around finding companies that are well positioned on the cost curve, have stellar management teams, and deliver great assets that are difficult to replicate.

Recorded on July 5, 2023.

At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.

For the second year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2022 Environics’ Advisor Digital Experience Study.

On the podcast today, Director of Global Macro, Jurrien Timmer, joins us to discuss some of the macro themes he’s watching out for, and where investors might find opportunities in today’s market environment. Jurrien says that the lengthy period of low interest rates we’ve lived through has decreased the cost of capital, resulting in an increase of the present value of future cash flows and creating a mini bubble across asset classes. He explains to host Pamela Ritchie that investors can throw market playbooks out the window with the release of second quarter earnings next week, which are on track to decline by about 3%. On the earnings side Jurrien says the market is seeing a soft landing, but it’s difficult to know the degree to which liquidity will impact that outcome.

Recorded on July 5,2023.

At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.

For the second year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2022 Environics’ Advisor Digital Experience Study.

Joining the show today to discuss how he’s navigating this year’s market environment within the context of a liquid alternative strategy is Brett Dley, Portfolio Manager. Brett joined Fidelity in 2008 as a research analyst, and initially covered a variety of sectors and managed the sector’s respective component of Fidelity Canadian Disciplined Equity Fund. In 2019, regulatory changes created an opportunity for Brett to use his unique skillsets to lead a new liquid alternative strategy, Fidelity Market Neutral Alternative Fund. Today, Brett joins host Rory Poole, Director, Alternatives, to share the thesis behind his fund, and comment on how he’s seeking to find the winners and capitalize on the potential losers. Brett also explains how a long/short strategy may be successful in periods of volatility, and where he is seeing opportunities in the second half of 2023.

Recorded on June 22, 2023.

At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.

For the second year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2022 Environics’ Advisor Digital Experience Study.

Joining us today is Portfolio Manager David Tulk, to discuss the resilience of the current market, whether it will last, and any implications for asset allocation going forward. David explains to host Pamela Ritchie that central banks are continuing to figure out how tight monetary policy needs to be to get inflation back down to a level they’re comfortable with. He points out that economies have proven more resilient than what central banks would have thought, and emphasizes that we aren’t out of the woods yet in terms of interest rate hikes. As interest rates have gone up, David also says he is surprised we haven’t seen more weakness in the housing market and predicts that mortgage pressure will be very acute over the next couple of years.

Recorded on July 4, 2023.

At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals. Fidelity mutual funds and ETFs are available by working with a financial advisor or through an online brokerage account. Visit fidelity.ca/howtobuy for more information.

For the second year in a row, FidelityConnects by Fidelity Investments Canada was ranked the #1 podcast by Canadian financial advisors in the 2022 Environics’ Advisor Digital Experience Study.