, Columnist
Funds Like Magellan Need Gamblers Like Bill Gross
Nibbling around the edges doesn’t cut it anymore.
Go big or go home.
Photographer: Patrick T. Fallon/Bloomberg
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I know why investors don’t care about Fidelity Magellan’s comeback.
As Bloomberg News reported on Monday, the mutual fund made famous by hall-of-fame stock picker Peter Lynch is enjoying a resurgence after years of mediocre performance. The fund fell into a “15-year funk” after Lynch’s successor, Jeffrey Vinik, left in 1996. But ever since current manager Jeffrey Feingold took over in September 2011, “Magellan has bested the S&P 500 index every full year but 2016.” The fund has also “outdone more than 90 percent of funds with a similar investing style over the past one, three, and five years.”