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Subject:  Fidelity ? Date:  1/2/2005  2:17 PM
Author:  pauleckler Number:  43821 of 88810

The '04 performance figures are in for stocks and mutual funds. My newspaper carries an AP summary today of mutual funds. They list the precentage increase for the year (including distributions) and the ranking vs peers (1 to 5).

I am amazed at the number of Fidelity funds rated 4 or 5.

In the days of Peter Lynch, Fidelity was as outstanding achiever. Now performance seems medicore.

Especially disappointing is the performance of the sector funds, especially FSPTX, which turned in a 4% return for the year (ranks 4th group). Technology performance was spotty last year, but I can easily name quite a few technology stocks that were up 100% or more. Apple, Research in Motion, PalmOne, eBay, Yahoo. You would think a professionally managed fund should be able to manage 20% return or better in that environment.

Fidelity dropped most of their loads in the last year. What happened? Did they lose key managers? Were they tramatized by the scandals?

Are the Fidelity funds managed to match the indexes? Or are they managed for best return for their share holders?

Shouldn't there be key words in the prospectus to tell us which kind of fund they are offering?

Check out the performance of your funds!! Caveat emptor!!
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