Top Global Fund Manager Says China's Alibaba, JD Look Cheap
- Spending will pay off in 3-5 years, says Dynamic fund manager
- Dynamic Power Global Growth Class returned 72% over 3 years
This article is for subscribers only.
Chinese technology stocks like Weibo Corp. are cheap as long as investors consider their long-term growth prospects, says a Canada-based fund manager whose portfolio is outperforming 554 global peers.
“Some of the earnings of these companies have been understated due to the fact that they’re undertaking some pretty heavy investments right now,” said Noah Blackstein, who runs the C$1.52 billion ($1.2 billion) Dynamic Power Global Growth Class fund. “I believe that over the next three to five years there will be fruits to these expenses and you’ll see that in the earnings line."