One of the world’s largest equity managers says he’s buying the dip.
Dominic Rossi overseas about $269 billion as CIO for equities at Fidelity and said he’s particularly looking to buy US equities.
“The correction has been exaggerated by poor positioning. The hedge fund community has been caught on the wrong side of this trade,” he told Bloomberg. “When the hedge fund community gets caught, they sell first and ask questions later.”
He likes tech, biotech and media companies. The S&P 500 is chopping around unchanged levels.
