Friday, March 31, 2006

Fidelity Contra Fund Closes

The Fidelity Contra fund has finally decided to close the fund at the end of April. I’ve been a long term holder and have a good chunk of my retirement money in this fund. The size of the fund is currently ~$64 billion. So is this too big? I don’t think so. The portfolio manager of the Fidelity Contra fund, William Danoff, is one of the best out there. If you look at the top ten holdings of the Fidelity Contra fund, it makes up ~20% of the total portfolio. He’s willing to make some big bets and he’s often correct. He's not one of those closet index fund managers. I’ll stick with this fund as long as William Danoff continues to be the portfolio manager.


At May 12, 2006, Anonymous Anonymous said...

I am invested in BAM. It recently split and I plan to keep it long term. What do you think of it?

At May 12, 2006, Blogger Money Turtle said...

I wish I held onto BAM. I like the company a lot. It's a very diversified company and it's in the sweet spot right now. I think it's a good long term holding. Of course, this is just my opinion and I'm not always right. Good Luck!


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