Fidelity’s legendary Bruce Johnstone reprises his equally legendary chapter blockbuster with a refreshing new spin. And the New York City Chapter is delighted to host this event for our own members and friends.
ABOUT THE EVENT:
Date: Wednesday, December 8, 2023 at 6:30 PM ET on Zoom
Topic: Middle East Wars, China emerging from Hibernation?
Russia Breathing Fire? Have Inflation and the U.S. Economy
Peaked? Where Go Economies and Markets?
Register: https://us02web.zoom.us/webinar/register/WN_u5njHnE4RmufuifVfLcOVg
Please note: This presentation is free to all, but registration is required. Donations gratefully accepted to support the work of our chapter in offering top-tier programs. To donate: https://www.paypal.com/donate/?hosted_button_id=739BYWUZXUF5U
ABOUT THE PRESENTATION:
Summary: As geopolitical issues boil over , China is emerging from its draconian zero-Covid policy, and the U.S. economy is struggling to avoid recession, Fidelity Investments’ Bruce Johnstone will share his outlook for global economies and markets, with emphasis on corporate profit growth, inflation, interest rates, liquidity, and market valuations, given the enormity of the current geopolitical developments.
Three things to take away from this talk:
· China’s emergence from Covid is not going well as the earlier emphasis on residential real estate as a source of growth appears to be catastrophic.
· The geopolitical moves around the world to a greater number of autocracies led by aged leaders is a huge risk.
· Market valuations depending on highly uncertain earnings growth and diminishing inflation could be nerve wracking.
ABOUT BRUCE
Between degrees from Harvard College and Harvard Business School , Bruce served two years in the U.S. Navy as an officer on a Destroyer. He joined Fidelity Investments in 1966. From 1972-1990, he managed the Fidelity Equity-Income Fund. During that period, the fund achieved a return of over 1100%, nearly twice that of the S&P 500. This return ranked Bruce as the #1 equity-income fund manager in the nation for the 19 year period. In 1987, he was named America’s Best Income Investor by Money Magazine. During his tenure on the fund, he oversaw all of Fidelity’s Growth and Income funds and chaired Fidelity’s Investment Committee. Bruce is currently Fidelity’s Historian while also serving as Senior Marketing Investment Strategist for Fidelity’s Retail and Institutional Companies.
Eric Kobren, former publisher of Fidelity Insight , one of the leading newsletters researching Fidelity’s funds in the U.S., has said Bruce ranks “a close second” to Peter Lynch as Fidelity’s best all-time fund manager.