Kyle Weaver, who oversees $5 billion as lead manager of the Fidelity Advisor Growth Opportunities Fund, shares his three top stock picks for 2019.
Weaver’s fund has returned 12.71% over the past year through Jan. 4, putting it in the 99th percentile relative to competitors.
Just as everyone expected the stock market to ease quietly into the end of 2018, chaos reigned supreme over the final week of the year.
Faced with some of the sharpest losses of the nearly 10-year bull market, US equity indexes threw portfolio managers for a loop, disrupting many best-laid plans for year-end.
Which is why it’s that much more impressive that Kyle Weaver — who oversees $5 billion as lead manager of the Fidelity Advisor Growth Opportunities Fund — has been able to remain atop Wall Street fund manager rankings. He was in the 99th percentile through the end of November, and remained there as of Jan. 4, even following the market’s turbulent December.
It’s no mistake that Weaver stayed relatively insulated from the widespread damage that took stocks by storm. His entire strategy is built around stable, standalone businesses that are largely immune to macro conditions and negative external forces.
Read more: We interviewed Wall Street’s 8 top-performing investors to get their best ideas for 2019
Beyond that, Weaver picks stocks based on what he calls a “deep value” approach. That means he looks for companies trading at inexpensive valuations right now — perhaps at two to three times earnings — that also possess massive upside over a five- to 10-year period.
To that end, Weaver shared with Business Insider three of his top stock picks for 2019. They are as follows. All quotes attributable to Weaver.
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Source:: Business Insider