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By Susan Wasserman | 12-08-2015 02:00 PM

Owning the Companies That Invent the Future

Major trends in the global economy toward cloud computing, personalized medicine, and more will create big opportunities for investors over the very long term, says Fidelity's Gavin Baker.

Susan Wasserman: I'm Susan Wasserman with Morningstar. I'm here with Gavin Baker from Fidelity OTC (FOCPX).

Gavin, thanks for being here.

Gavin Baker: Thank you, Susan. And thank you, Morningstar.

Wasserman: We're closing out 2015, which has seen ups and downs across the market, particularly within healthcare and tech, which are two of the biggest sectors within your portfolio. Can you talk about some themes that you look to this year and give your thoughts on them?

Baker: Sure. The OTC fund invests in great companies that are at the epicenter of powerful multidecade secular trends, like artificial intelligence, cloud computing, and personalized medicine. Big picture: It's a great time to be alive and a great time to invest, as I think the world is likely to change more over the next 20 years than it's changed over the last 50 years. We're all going to live longer and work less. Fears of global warming may seem like a distant memory because of solar power and improved battery technology, and I think these changes are going to create massive opportunities for growth funds with a very long-term time horizon.

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