Reported 6 months ago
Dmitry Solomakhin, a Fidelity International Ltd. fund manager, has achieved remarkable success by investing in troubled businesses despite the failures of artificial intelligence (AI). His contrarian value fund, valued at $1.1 billion, has outperformed 99% of peers by betting on companies in distress, like Rolls-Royce Holdings Plc, and picking up stocks affected by the AI surge. Solomakhin's approach involves identifying undervalued companies that the market may be underestimating, with recent investments including Concentrix Corp. Despite challenges, his fund has shown resilience and steady returns, emphasizing his long-term investment strategy and conviction in underappreciated assets.
Source: YAHOO