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I am a beginning investor, starting a new job, working for a group as a partner with a amndatory 17% pretax witholding for retirement invested in funds managed by either first union or fidelity. I think fidelity is best. I am the "growth fund"type which brings me to the choice between the Magellan or the Fidelity Spartan Market Index. I have read the Fool Book "You have moer than you think" and wonder if the index is a better longterm choice than the Magellan, but have heard that Magellan is grade A top choice fund that I am lucky to have the oppourtunity to consider . I will contribute over 30 years. I also wonder about the wisdom of putting say 10-20% of my retirement monies into Fidelity select portfolios (computers and biotechnology would be my picks). I am truly a novice and would appreciate any advice on the topic.
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Here's a link to Paul Merriman's discussion between Magellan and Spartan Market Index:

http://biz.yahoo.com/wi/000616/7643.html

I would probably scratch Magellan although I would look at Aggressive Growth, Contra, and OTC among a few other Fidelity choices along with using Morningstar for where to get some data on the various funds.

JB
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I know nothing about First Union, but I am reasonably happy as a long time Fidelity customer.

Foolish advice would be to go with the index fund rather than Magellan, but the latter has been such a great brand name over the years!

>> I also wonder about the wisdom of putting say 10-20% of my retirement monies into Fidelity select portfolios (computers and biotechnology would be my picks). I am truly a novice and would appreciate any advice on the topic. <<

I own both, and Select Computers has been a great pick for medium to long term. (Last five years) Select Biotechnology is a wonderful investment if you're looking for entertainment. I bought this year in January, and watched it climb to 125%, then down to 70%, then back up to 107%, all in five months. What fun!

You might also consider Select Telecom for the racy portion of your portfolio.


Tim
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I like the Fidelity tech funds and have both the Computer and just started in Biotech this year.

A couple others that have done really well for me include: Technology,Electronics and Developing Communications. Not a Select fund, but their Aggressive Growth fund (mid-cap growth)has been good too for the past 3 years.

Note: All are down ytd except the Electronics, but I'm 33 and have a long time horizon.
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