Click here for more episodes from this series.

The consumer staples sector - big stable companies with reliable cash flows and strong balance sheets - is often referred to as 'defensive' because the stocks perform well in the market even when everything else is falling apart. People can be relied on to always buy food and shampoo. But years of cheap debt have seen some of these companies, many of which face disruptive forces from changing consumer trends, take on leverage to see through big M&A deals, bringing into question the defensive qualities of their businesses. The size of these companies is so large that there is concern that a de-rating of their debt could even up-end the whole market. 

Richard Edgar, Editor in Chief, is joined by two of Fidelity's analysts who have taken a closer look at the issue: Gita Bal, Director of Research and Senior Credit Analyst, and Heidi Rauber, Senior Equity Analyst.

We also hear from three portfolio managers - Matt Siddle, Aneta Wynimko, and Kris Atkinson - about why views on what makes a defensive stock are changing.

 

<a href="https://omny.fm/shows/for-investment-professionals-only/playlists/fundamentals-the-investment-research-podcast">Click here for more episodes from this series.</a>
The consumer staples sector - big stable companies with reliable cash flows and strong balance sheets - is often referred to as 'defensive' because the stocks perform well in the market even when everything else is falling apart. People can be relied on to always buy food and shampoo. But years of cheap debt have seen some of these companies, many of which face disruptive forces from changing consumer trends, take on leverage to see through big M&amp;A deals, bringing into question the defensive qualities of their businesses. The size of these companies is so large that there is concern that a de-rating of their debt could even up-end the whole market.&nbsp;
Richard Edgar, Editor in Chief, is joined by two of Fidelity's analysts who have taken a closer look at the issue: Gita Bal, Director of Research and Senior Credit Analyst, and Heidi Rauber, Senior Equity Analyst.
We also hear from three portfolio managers - Matt Siddle, Aneta Wynimko, and Kris Atkinson - about why views on what makes a defensive stock are changing.
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Fidelity Answers is a podcast channel from Fidelity International's editorial team. From tech cycles to The End of the Cycle, from downside protection to the upside of ESG, we bring you in depth conversations and the latest ideas from our analysts, portfolio managers and investment directors to explore the latest investment thinking.

As well as topical standalone episodes you'll find our series 'The Investor's Guide to China' where we put the economic powerhouse under the microscope with on-the-ground experts; and 'Fundamentals', a series where the analysts discuss the implications of their latest research, from 5G technology to the plight of the Orangutan. 

***If you enjoy Fidelity Answers then whey not listen to our other show, 'Rich Pickings: Fidelity's Asset Allocation Podcast', where each month we dive into the latest market trends with Fidelity's asset allocation group, asking them how they're positioned and why. What will the portfolio managers reveal about their investment strategies? What are the team's hot cakes this month? And what would they drop like a hot potato? 

Fidelity Answers is a podcast channel from Fidelity International's editorial team. From tech cycles to The End of the Cycle, from downside protection to the upside of ESG, we bring you in depth conversations and the latest ideas from our analysts, portfolio managers and investment directors to explore the latest investment thinking.
As well as topical standalone episodes you'll find our series 'The Investor's Guide to China' where we put the economic powerhouse under the microscope with on-the-ground experts; and 'Fundamentals', a series where the analysts discuss the implications of their latest research, from 5G technology to the plight of the Orangutan.&nbsp;
***If you enjoy Fidelity Answers then whey not listen to our other show, 'Rich Pickings: Fidelity's Asset Allocation Podcast', where each month we dive into the latest market trends with Fidelity's asset allocation group, asking them how they're positioned and why. What will the portfolio managers reveal about their investment strategies? What are the team's hot cakes this month? And what would they drop like a hot potato?&nbsp;

A podcast about markets, economics and business from Fidelity International.

Fidelity Answers: The Investment Podcast

Fidelity Answers is an investor's podcast channel from Fidelity International. Looking for invaluable sector and market commentary? Then this is the place for you. From downside protection to the upside of ESG, we bring you in depth conversations and the latest ideas from our analysts and portfolio managers to explore the best investment thinking. 

Fidelity Answers is an investor's podcast channel from Fidelity International. Looking for invaluable sector and market commentary? Then this is the place for you. From downside protection to the upside of ESG, we bring you in depth conversations and the latest ideas from our analysts and portfolio managers to explore the best investment thinking.

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