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Fidelity Strategic Income Message Board

  • hrant4005 hrant4005 Sep 18, 2008 11:56 AM Flag

    new investor

    kiplinger just recommended this fund. I have trowe prhyx but considering to invest in this one . appreciate any comments .

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    • I've parked some of my portfolio in this fund since april 07. I did so for safety, because I was anticipating a crash in the market. So far I've lost 2.9%.

      While I'm a bit surprised that I lost anything, I do understand why. They had 10% of their holdings in FNMA and FDMC securities. I'm not sure what they have done with those securities.

      If this money had remaining invested, it would have lost 18% to 25% depending on where it was. So I'm not too disappointed. I'll put this money to work after the smoke clears with all the financials.

      • 1 Reply to activelyx
      • The fund holding in Fannie and Freddie (10% of the fund holding) disapeared a few days before the Feds took them over. The fund was holding Bonds not the stock.
        When the Feds took them over the value of the bonds went up significantly and we did not benefited from the gains. No one at Fidelity can tell you what they did with them.
        In the meantime this fund is going in one direction-DOWN allmost everyday.

    • I wouldn't touch it. Piece of Shit. I called them and asked what are they holding that has overwhelmed the positions in treasuries and freddie and fannie debt,
      THEY WILL NOT ANSWER THE QUESTION !

      They are not open to me as to what the hell they hold
      They drop in up markets and they drop in down markets

 
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