Indexers, Pure Managers, and Conglomerates
Some approaches are better than others, but all can succeed.
Last month, the New York Times pictured Fidelity as a company wandering through the desert. The article, “Fidelity, Bruised From Crises, Searches for Life After Mutual Funds,” suggests that the company’s “once-dominant stock pickers are stuck in the past, in more ways than one.” A newsletter publisher (Jim Lowell) states, “Fidelity is in an existential crisis.”
This is true and not.