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.
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