Fidelity Equity CIO Rossi Prefers U.S. Shares in ‘Myopic’ Market

Intellectual property, “intangible” industries including software, gaming are where U.S. tends to dominate, Dominic Rossi, global chief investment officer of equities at Fidelity Worldwide Investment, says on call with reporters. * “Myopic” market “almost incapable of properly valuing intangible assets” * Prefers U.S. to Europe; U.S. economy “far from likely” to fall into recession * No reason why bull market won’t have a lot of years ahead, barring a “policy mistake”: Rossi * Strong dollar will impact EPS for S&P 500 cos this yr * Sees no reason for another Fed Rate hike; says U.S. consumers

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