Fidelity Special Situations fund manager Alex Wright says mining companies are not profitable enough to invest in – but he does like financial stocks.
Morningstar guest: Alex Wright, Manager of the Fidelity Special Situations Fund and the close-end fund Fidelity Special Values
http://www.morningstar.co.uk
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2 Comments
Mining stocks can greatly multiply or destroy wealth depending on which company you investing in and where we are in the commodity boom-bust cycle. There are many, many billionaires today that made their fortunes through mining stock investing. If you invest in a quality miner near the bottom of the cycle you can multiple your money many times over a relatively short period of time. There are few other sectors that can reliably offer these types of consistent, spectacular returns. If you invest near the top of a cycle, that investment will diminish quite quickly.
Emma Wall has a quintessentially posh UK accent. It is a pleasure to listen to her…..