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Confessions of a fund manager

'Market panic is usually a buying opportunity'

Puja Mehra | Print Edition: March 8, 2007

Past Positions: At Fidelity since 2000. Started in Hong Kong covering sectors like metals, Past Positions: At Fidelity since 2000. Started in Hong Kong covering sectors like metals, mining, health care and IT services. Moved to the US in 2003 to manage Fidelity’s Global Financials Fund before returning to India in 2006.

Investment Mantra: Follows Fidelity’s investment philosophy of research-based stock picking. Key is to take meaningful bets in stocks that have the potential to be longterm winners or where the stock is trading at a significant discount to its intrinsic value. Market panic is generally a good buying opportunity.

Top picks right now: Sectors like banking and finance, IT/software services and pharma offer interesting opportunities.

Advice to small investors: Be clear about your financials goals, invest for the long term and diversify your portfolio. Invest regularly and remember that SIPs work only if you continue to invest through the downturn too. When investing directly in stocks, buy into businesses that you understand.

Worst mistake small investors make: Trying to time the market. It’s time in the market and not timing the market that counts.

The one thing they must never forget: Avoid chasing latest fads and hot tips—small investors are generally the last ones to know of such stories and rarely have an edge over professionals.

FIDELITY INDIA SPECIAL SITUATIONS FUND: A SNAPSHOT




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