When Abigail Johnson began her apprenticeship at Fidelity Investments 25 years ago, the Boston- based firm founded by her grandfather was the nation’s biggest mutual-fund company and star manager Peter Lynch was enjoying a performance streak at the Magellan Fund -- a 29 percent average return over 13 years -- that ranks among the best in the industry’s history.
David Ellison learned a simple lesson from legendary mutual-fund manager Peter Lynch as a young bank analyst at Fidelity Investments in the 1980s: If things at a company are getting better, you want to own its stock.
We're screening for tech leaders today. However, first a quick comment on the obvious -- Apple's multi-product announcement today at 1pm ET: Apple is trying desperately to prove it can still grow, and it needs to. The 64 analysts tracked by Bloomberg forecast earnings will decline 11 percent this year. Even if the company successfully introduces/markets/executes a low-priced iPhone for the Chinese market, the additional 40M unit sales will only add 10 percent to earnings next year, according to ISI's Brian Marshall. This boost would merely return earnings to last year's level.
President Barack Obama’s call for “investments” in education, infrastructure and science and health research is dismissed by most congressional Republicans as a fig leaf for more big-government spending.