Fidelity US manager seeks solace in gold

Technology stocks are unlikely to make the big comeback many US investors are looking for and may even contract more, says Fidelity's North American fund manager, John Muresianu who has moved overweight into gold to limit his risk against further volatility. Muresianu, who is has been well-known in the fund management sector for several years and is something of a legend to the IFA sector, is taking what he describes as a "contrary" approach and staying away from defensive stocks while markets are still unstable. Investor unease over US accounting procedures seen in the Enron affair a...