Tom Stevenson
Investment director
Tom Stevenson is an Investment Director at Fidelity International, specialising in market strategy, macro-economics, fund selection and retirement planning. He writes a weekly column on the markets for The Telegraph, where he worked prior to joining Fidelity in 2008. He is an experienced broadcaster and podcaster, with appearances on the BBC, Sky, Bloomberg and CNBC, as well as regular contributions to Fidelity’s popular You Tube show, The Personal Investor.
With more than 35 years investment experience, Tom is highly regarded for his ability to explain complex economic and investment topics in an accessible and approachable manner. As well as his written and video output, he speaks regularly to audiences of investors at Fidelity and at external events.
Prior to joining Fidelity, Tom pursued a successful career in financial journalism, working at Investors Chronicle and The Independent. Outside of work, he enjoys sport, travel, food and wine, and languages.
Latest insights by Tom
Four years and counting
What’s driving your investments this week?
Tom Stevenson Fidelity International - 12 Oct 2026
The hidden risks of excluding certain stocks from your portfolio
Why removing one investment can increase exposure elsewhere
Tom Stevenson Fidelity International - 08 Oct 2026
Investment Outlook - Q4 2026
What is the outlook for markets over the coming months?
Tom Stevenson Fidelity International - 08 Oct 2026
Markets are pulled in two directions
What’s driving your investments this week?
Tom Stevenson Fidelity International - 05 Oct 2026
How high can bond yields go before stocks suffer?
What history tells us about rising yields and equity markets
Tom Stevenson Fidelity International - 30 Sep 2026
How to protect your retirement income from inflation
Balancing annuities, cash and shares in retirement
Tom Stevenson Fidelity International - 23 Sep 2026
Preparing for inflation
What’s driving your investments this week?
Tom Stevenson Fidelity International - 21 Sep 2026
What 5% bond yields mean for stock market investors
Five equity qualities to consider as borrowing costs stay high
Tom Stevenson Fidelity International - 17 Sep 2026
Central banks in the spotlight
What’s driving your investments this week?
Tom Stevenson Fidelity International - 14 Sep 2026
Why the rising cost of capital matters for investors
Higher bond yields are changing the rules for markets and AI
Tom Stevenson Fidelity International - 09 Sep 2026
Shares shrug off looming rate hikes
What’s driving your investments this week?
Tom Stevenson Fidelity International - 07 Sep 2026
7 reasons to stick with shares
The continuing case for equities as bond yields soar
Tom Stevenson Fidelity International - 07 Sep 2026
AI investing: where the next winners could emerge
Why value may shift from AI builders to the businesses using it
Tom Stevenson Fidelity International - 03 Sep 2026
Shares climb a bond market wall of worry
What’s driving your investments this week?
Tom Stevenson Fidelity International - 01 Sep 2026
Why are gold and bitcoin rising together?
Find out what’s driving the surge in these alternative assets
Tom Stevenson Fidelity International - 01 Sep 2026
US in focus as our summer break winds up
What’s driving your investments this week?
Tom Stevenson Fidelity International - 24 Aug 2026
The bond market rout is painful, but opportunity is coming
Fixed-income risk is becoming more rewarding
Tom Stevenson Fidelity International - 20 Aug 2026
The hidden risk behind the next market correction
Why liquidity matters when markets turn
Tom Stevenson Fidelity International - 06 Aug 2026
No summer break for investors in volatile markets
What’s driving your investments this week?
Tom Stevenson Fidelity International - 03 Aug 2026
6 reasons the FTSE 100 hit a new record high this week
Why the London market has avoided the volatility in global markets
Tom Stevenson Fidelity International - 30 Jul 2026
The best investment strategy looks nothing like gambling
How to balance capital protection with long-term growth
Tom Stevenson Fidelity International - 30 Jul 2026
Oil reflects the ebb and flow of Gulf tensions
What’s driving your investments this week?
Tom Stevenson Fidelity International - 27 Jul 2026
Is the AI boom hiding an earnings bubble?
The accounting risks behind the surge in AI spending
Tom Stevenson Fidelity International - 23 Jul 2026
Investors look beyond the AI wobble
What’s driving your investments this week?
Tom Stevenson Fidelity International - 20 Jul 2026
Terry Smith’s big bet against the passive revolution
Why star manager is worried about the boom in tracker funds
Tom Stevenson Fidelity International - 17 Jul 2026
Earnings season to test investor sentiment
What’s driving your investments this week?
Tom Stevenson Fidelity International - 13 Jul 2026
Investment Outlook 2026 - Quarter 3
The perils of market timing
Tom Stevenson Fidelity International - 03 Jul 2026
Why market timing is harder than investors think
Oil, gold, AI and the case for diversification
Tom Stevenson Fidelity International - 02 Jul 2026
Volatility returns
What’s driving your investments this week?
Tom Stevenson Fidelity International - 29 Jun 2026
Why UK shares deserve a second look after Brexit
Cheap valuations and income appeal may support diversification
Tom Stevenson Fidelity International - 25 Jun 2026
Markets tread water amid widespread uncertainty
What’s driving your investments this week?
Tom Stevenson Fidelity International - 22 Jun 2026
Lessons from three great investors on how to ride the AI boom
Lessons from dotcom-era investing for today’s AI market
Tom Stevenson Fidelity International - 17 Jun 2026
Japan's quiet outperformance: why investors are taking notice
Reforms, reflation and AI demand are reshaping Japan’s appeal
Tom Stevenson Fidelity International - 11 Jun 2026
Could the AI boom be masking economic fragility?
Why rising markets may be propping up consumer spending
Tom Stevenson Fidelity International - 04 Jun 2026
Gold: two charts that tell very different stories
Why investors should watch their biases
Tom Stevenson Fidelity International - 02 Jun 2026
Markets climb the wall of worry
What’s driving your investments this week?
Tom Stevenson Fidelity International - 01 Jun 2026
Why physical AI is the next investment frontier
The next phase of AI will combine brains with brawn
Tom Stevenson Fidelity International - 28 May 2026
Can shares live with rising bond yields?
What’s driving your investments this week?
Tom Stevenson Fidelity International - 26 May 2026
India’s troubled stock market is priced for perfection
Is now a good time to explore this contrarian opportunity?
Tom Stevenson Fidelity International - 15 May 2026
Two-way pull continues
What’s driving your investments this week?
Tom Stevenson Fidelity International - 11 May 2026
Bond yields are soaring. But don’t ditch your stocks yet
The case for bonds is strengthening
Tom Stevenson Fidelity International - 07 May 2026
Letter to my grandson: investment lessons for life
How to invest for the next century
Tom Stevenson Fidelity International - 05 May 2026
Markets at a watershed
What’s driving your investments this week?
Tom Stevenson Fidelity International - 05 May 2026
Tech stocks back on the front foot
What’s driving your investments this week?
Tom Stevenson Fidelity International - 27 Apr 2026
In retirement, volatility is the price of better returns
Two similar savers can end up with vastly different pension pots
Tom Stevenson Fidelity International - 23 Apr 2026
Another fragile V-shaped rally
What’s driving your investments this week?
Tom Stevenson Fidelity International - 20 Apr 2026
When the market reacts positively to bad news, pay attention
Take notice when the market does the opposite of what you expect
Tom Stevenson Fidelity International - 16 Apr 2026
Weary investors sit on their hands
What’s driving your investments this week?
Tom Stevenson Fidelity International - 13 Apr 2026
When is the best time to sell an investment?
Selling is notoriously riskier than buying
Tom Stevenson Fidelity International - 10 Apr 2026
Investment Outlook 2026 - Quarter 2
All change
Tom Stevenson Fidelity International - 09 Apr 2026
Two investment decisions you shouldn’t delay
Make the most of your allowances before tax year end
Tom Stevenson Fidelity International - 02 Apr 2026
2022 revisited
What’s driving your investments this week?
Tom Stevenson Fidelity International - 30 Mar 2026
Doing nothing is the best strategy when markets go wild
Not following the crowd can be wise
Tom Stevenson Fidelity International - 27 Mar 2026
Short-term pain, long-term gain
What’s driving your investments this week?
Tom Stevenson Fidelity International - 23 Mar 2026
How this market wobble compares
Putting the current crisis into perspective
Tom Stevenson Fidelity International - 20 Mar 2026
Fund ideas to de-risk your portfolio
Using our preferred funds to navigate turbulent markets
Tom Stevenson Fidelity International - 19 Mar 2026
Central banks respond to new inflation threat
What’s driving your investments this week?
Tom Stevenson Fidelity International - 16 Mar 2026
Compounding in a nutshell
The most powerful force in investment
Tom Stevenson Fidelity International - 13 Mar 2026
Investors can ride out the storm of the Middle East oil crisis
Putting the latest stock market wobble in context
Tom Stevenson Fidelity International - 13 Mar 2026
Markets retreat as oil spikes higher
What’s driving your investments this week?
Tom Stevenson Fidelity International - 09 Mar 2026
Visions of a jobs apocalypse are greatly exaggerated
AI won’t be as good or as bad as people think
Tom Stevenson Fidelity International - 26 Feb 2026
Shares cling onto the wall of worry
What’s driving your investments this week?
Tom Stevenson Fidelity International - 23 Feb 2026
Follow the rules to survive the AI revolution unscathed
Bide your time rather than rushing in
Tom Stevenson Fidelity International - 20 Feb 2026
China’s resurgence means investors are scrambling to return
Past two years have seen a dramatic reversal in sentiment
Tom Stevenson Fidelity International - 13 Feb 2026
Japan soars after LDP landslide
What’s driving your investments this week?
Tom Stevenson Fidelity International - 09 Feb 2026
Precious metals: how to navigate a bubble
Lessons learned from the gold and silver price surge
Tom Stevenson Fidelity International - 05 Feb 2026
Ten for 10 - one year on
A solid start for my ten-year portfolio
Tom Stevenson Fidelity International - 05 Feb 2026
This is how I’ll turn my pension into income
An expert-led look at using your pension to fund retirement income
Tom Stevenson Fidelity International - 04 Feb 2026
Gold and silver plunge again
What’s driving your investments this week?
Tom Stevenson Fidelity International - 02 Feb 2026
Japan’s snap election: why it matters
Election outcome could have a big impact on markets
Tom Stevenson Fidelity International - 29 Jan 2026
Gold and Korea break through 5,000
What’s driving your investments this week?
Tom Stevenson Fidelity International - 26 Jan 2026
Why is the copper price rising?
Copper prices explained: demand drivers, supply risks and what it means for investors.
Tom Stevenson Fidelity International - 22 Jan 2026
My five-point investment plan for an unpredictable world
Investors must deal with increasing uncertainty
Tom Stevenson Fidelity International - 22 Jan 2026
How do I cash out my pension over 30 years?
Planning pension withdrawals to last through retirement
Tom Stevenson Fidelity International - 16 Jan 2026
Gold, shares and metals hit new highs
What’s driving your investments this week?
Tom Stevenson Fidelity International - 12 Jan 2026
Watch - Week in the markets - 12 January 2026
2026 starts as 2025 ended
Tom Stevenson Fidelity International - 12 Jan 2026
What I’ve learnt from 10 years of picking investment funds
Tom Stevenson reflects on a decade of fund picks
Tom Stevenson Fidelity International - 09 Jan 2026
Investment Outlook 2026 - Quarter 1
Triumph of the optimists
Tom Stevenson Fidelity International - 08 Jan 2026
My fund picks for 2026
Where I will be investing in my ISA and SIPP this year
Tom Stevenson Fidelity International - 02 Jan 2026
The four strategies for investing in 2026
It’s natural to be optimistic but prudent to temper hope with caution
Tom Stevenson Fidelity International - 24 Dec 2025
Five lessons from watching the stock market in 2025
Every year is different and there's always something to learn
Tom Stevenson Fidelity International - 19 Dec 2025
Interest rates in focus - the week ahead
What’s driving your investments this week?
Tom Stevenson Fidelity International - 15 Dec 2025
Lifting the lid on our UK investments
Quality, value and income in the Select 50’s UK funds
Tom Stevenson Fidelity International - 12 Dec 2025
November breaks seven-month winning streak - the week ahead
What’s driving your investments this week?
Tom Stevenson Fidelity International - 01 Dec 2025
The US-China rivalry is a fantastic money-making opportunity
Investing in East vs West competition can play in your favour
Tom Stevenson Fidelity International - 27 Nov 2025
Labour’s ‘no choice’ tax-raising Budget
What the measures mean for your finances
Tom Stevenson Fidelity International - 26 Nov 2025
10 scenarios for surviving a stock market bubble
The best and worst ways to survive a market downturn
Tom Stevenson Fidelity International - 21 Nov 2025
Harvesting gains - the week ahead
What’s driving your investments this week?
Tom Stevenson Fidelity International - 17 Nov 2025
Strong earnings offset valuation concerns - the week ahead
What’s driving your investments this week?
Tom Stevenson Fidelity International - 10 Nov 2025
Could the Budget boost Britain’s unloved stock market?
Uncertainty surrounding the UK economy could clear away
Tom Stevenson Fidelity International - 07 Nov 2025
Shares continue their winning streak - the week ahead
What’s driving your investments this week?
Tom Stevenson Fidelity International - 03 Nov 2025
Beware the dangers of greed
The hidden instincts driving investor behaviour
Tom Stevenson Fidelity International - 31 Oct 2025
Buoyant markets face a Fed and tech stock test - the week ahead
What’s driving your investments this week?
Tom Stevenson Fidelity International - 27 Oct 2025
Ten for 10: Funds to buy and hold for a decade
Building a low maintenance portfolio
Tom Stevenson Fidelity International - 05 Feb 2025
My fund picks for 2025
Tom Stevenson’s annual ISA and SIPP fund choices
Tom Stevenson Fidelity International - 03 Jan 2025
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