Trust the fund managers that you knew were equipped to do the job prior to (last Tuesday).
More Quotes from Jim Lowell:
This move reflects the fact that Fidelity, while not directly acknowledging it, is tacitly admitting what we all know that the fund business is maturing, while the other two areas affected by today's announcements, namely the venture capital side and retirement services, have long-term prospects for significant growth,Jim Lowell
You can't use that to mask the real potential weakness in what used to be - or arguably still is - their core business. There's no question they've been moving against the tide with Magellan's woeful performance. And investors tend to think that as the flagship fund goes, so goes the rest of the fleet.
Jim Lowell
Fidelity and others understand that beating Wall Street these days is half the battle. You've also got to be able to play on Pennsylvania Avenue.
Jim Lowell
He may not have had a choice. If Peter had control over it, he wouldn't have sold. His loyalty is very deep. It's not a vote of no-confidence.
Jim Lowell
The majority of Fidelity growth and growth income funds remained underweight technology - some by inches, and some by miles.
Jim Lowell
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