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Fidelity Floating Rate High Income Message Board

  • InvestmentGuru2001 InvestmentGuru2001 Jan 22, 2010 6:34 PM Flag

    Christine Screwing Up Again!

    Another down day. Here we go again! Can't Fidelity find a competent fund manager somewhere in the universe?

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    • You are flat out wrong. The fund experienced a precipitous decline in 2008, far worse than its peers; and its recovery in 2009 lagged its peers by 50%. Meaning when things got bad, this fund did worse than similar funds; and when things improved this fund did worse than similar funds. This means the fund manager is incompetent.

      As to being conservative, nonsense! She is incompetent, not conservative. She is making imprudent investments, and is earning less than 2% on her new investments, while her peer funds are earning between 4% and 6% on "slightly" more risky investments. Christine is a total incompetent and needs to go!

    • It doesn't bother me if the manager is arrogant or her staff are rude- I won't be dealing with them personally- but I would be interested in details as to "flawed methodology".

      I'm not in this fund to make a quick killing, but rather to park cash at reasonable safety and yield while money market funds pay zilch, bonds seem overpriced and circumstances suggest interest rates could rise sharply. I have good information that the manager has positioned the fund conservatively, which would explain the recent underperformance relative to riskier peers in a strongly uptrending market. This appears to have been a sound strategy as it is my understanding that the fund had significant, yet smaller losses relative to peers in the 08'-09' crisis, and actually tops its category for the recent two-year period that incorporates the crash.

    • Examine how this fund has performed compared to similar funds. She has done the worst among her peers. What else do you need to know? Her flawed methodology? He arrogance? The disdain of her staff?

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