MarketWatch today has an interesting interview with Jason Weiner, the manager of Fidelity Growth Discovery Fund. As an individual investor, while I don't always parrot what institutional investors do, I do find that understanding their thought processes and seeing how they themselves make sense of data and the markets is really useful as I make my own investment decisions.

For those who know a little bit about Fidelity funds, the Growth Discovery Fund used to be called the Fidelity Contrafund II, which Weiner himself managed from 1998-2000. This year through Dec. 3, the $1.6 billion fund was up 26.2%, landing in the top 5% of its large-cap growth category, according to investment researcher Morningstar Inc.

Google
Weiner likes Google Inc. (NASDAQ: GOOG). Weiner says of the search giant, "I don't think there's [strong] threats to their paid search advertising model." Interestingly, Weiner says that Google's biggest threat is not being a one-product pony, as many analysts and pundits criticize the company. Rather, Weiner is nervous about the expansionist drives of Google management into businesses that may not be nearly as attractive as paid search.

I like Google here as well and have written about Google's vision of blurring the distinction between the desktop and the Internet. I also believe that Google Docs rock and are a huge first step at really competing with Microsoft Corp. (NASDAQ: MSFT).

Research in Motion
Weiner is a fan of Research in Motion (NASDAQ: RIMM). He thinks that the cult-like, vocal following of loyal Blackberry users bodes well for the firm. The Fidelity fund manager thinks there is plenty of upside in terms of market share given the fact that there are only 10 million Blackberry users. Weiner feels that RIMM has to work extra hard to stay ahead of obsolescence with new hardware and software updates needed at close intervals.

Cisco
In Weiner's tech-heavy portfolio, he also favors Cisco (NASDAQ: CSCO) as the "pipe-layer" for Internet traffic. He praises Cisco's "gorilla-like dominance" but recognizes potential sensitivity the tech company might feel in an extended economic slowdown.

Zack Miller is the Managing Editor of IsraelNewsletter.com and a former equity analyst for a leading multinational hedge fund. Author holds a long-term position in Google and has clients invested in Cisco.