Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Businessweek Archives

Fidelity To Reopen Contrafund and Low-Priced Stock


I’ve said it before and I’ll say it again: It’s a dismal year for mutual funds. Hence, the onslaught of fund reopenings.

Now Fidelity is reopening two of its most successful—or should I say formerly successful—portfolios, Fidelity Low-Priced Stock and Fidelity Contrafund.

Jim Lowell, editor of the Fidelity Investor newsletter, is advising his readers to switch out of Magellan for Contrafund or Mid Cap Stock for Low-Priced Stock and invest in these portfolios.

I wrote a profile of Low-Priced Stock manager Joel Tillinghast (“Wizard of Fidelity”) when I was at SmartMoney. He’s an interesting, eccentric guy who pours everything into running his fund. (His main social outlet at the time was Mensa happy hours.) And Fidelity Contrafund manager Will Danoff is another colorful character with an incredible long-term track record. He also collects smiley faces.

Will these two managers be able to make investors smile in 2008?

Dunno. But it will be interesting to watch.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus