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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Donald Wennerstrom who wrote (15448)	5/28/2004 9:00:00 AM
From: Jess Beltz	Read Replies (1) \| Respond to of 95640

It's this kind of stuff we've been battling: *************************** =DJ Fidelity's Stansky Admits Mistakes After A Lagging Year NEW YORK (Dow Jones)--Robert Stansky, portfolio manager of Fidelity Magellan Fund, may get a failing grade for his performance in the recent years, but he will at least receive credit for his honesty in admitting his mistakes. After another year of relatively weak performance, the manager of one of the nation's largest mutual funds said he had misread the accelerating pace of the economy in the fiscal year ended March 31, and positioned the fund too defensively. In the fund's annual report issued Thursday, Stansky said being underweighted in technology stocks was the "single biggest detractor and missed opportunity." "The truth is, I made some mistakes in stock picking and sector selection," he said. "In technology, I thought stock prices already reflected the sector's improved prospects, but the stock still ran up." The manager said underweighting Cisco Systems Inc. (CSCO) and Intel Corp. (INTC) against the benchmark was particularly a big blow to the fund's relative performance." snip *********************** Let's hope that other fund managers read this and don't want to be caught making the same mistake. Jess.