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Fidelity Value Message Board

  • applesnapple79 applesnapple79 Dec 30, 2009 1:20 PM Flag

    Top 10 Holdings... JPM?

    I sooo wish this fund would get rid of their investment in J.P. Morgan (JPM). JPM is in a court battle with Washington Mutual, Inc. (WMI). It's whispered that the FDIC wrongfully seized WMI (worth 32 billion at the time) and turned around and sold WMI to JPM for a fire sale of 1.8 billion. Now WMI is suing JPM and the FDIC. And it looks like there will be some sort of recompense in the near future. A court hearing date is scheduled for January 4th.

    I have loved this fund, especially when Goodyear Tire and Rubber Co. were in the Top 10 holding list, but where are they now?

    Anyways, I hate to sell out, but I may have to in order to protect my interests.

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