IC Interviews: Stephen Yiu

Dave Baxter is joined by Stephen Yiu, lead manager of the popular but embattled Blue Whale Growth fund.

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The pair discuss recent shifts in the portfolio – from Yiu exiting many of the mega- cap US tech stocks to a newfound interest in the energy sector – and the thinking behind this. From ChatGPT to the metaverse, they also look at which technological advances might drive tomorrow’s returns, and which might look less convincing.

Timestamps:
00:00 – Intro
01:32 – 2023 market conditions
05:02 – Fund position
07:19 – Charles Schwab
09:50 – Energy sector exposure
18:16 – More fund turnover in these uncertain times?
22:38 – Assessing tech trends (metaverse, AI)
29:59 – Tech exposure going forward
33:47 – Other interesting sectors
37:45 – ‘Pick-and-shovel’ plays
40:00 – US market vs the world
44:40 – Outro

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