The Big Question: What is your top contrarian play at the moment?

Sanjeev Shah, manager, Fidelity Special Situations fund   Lloyds Lloyds is a good example of a contrarian, value position in the Fidelity Special Situations fund. It is contrarian because the financials sector has been under owned and out of favour with institutional investors for some years. Valuations for pan-European bank stocks back in July were almost back to their 2009 lows. Since then bank stocks have performed strongly as the macro economic outlook has become slightly less gloomy. Lloyds has been a particularly strong performer and has now risen by around 50% this year. ...