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Article: MUTUAL FUND INDUSTRY Getting to the heart of Fidelity's power
- Article from:
- The Milwaukee Journal Sentinel (Milwaukee, WI)
- Article date:
- January 22, 1996
- Author:
CopyrightCopyright 1996 The Milwaukee Journal Sentinel. Provided by ProQuest LLC. (Hide copyright information)
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Fidelity's World. By Diana B. Henriques. Scribner's. 416 pages.
$26.
The recent controversy over remarks by the manager of Fidelity
Investment's Magellan Fund about Micron Technology Inc. makes a
powerful argument for reading "Fidelity's World," the new book on the
investment giant by Diana B. Henriques.
The Wall Street Journal reported Dec. 12 that the Securities and
Exchange Commission was reviewing positive comments about Micron made
by fund manager Jeff Vinik even as Vinik was selling the stock.
Talking up Micron could have enabled Vinik to sell the stock at more
favorable prices. Fidelity spokesmen have denied that Vinik was
trying to manipulate the market, and the SEC has refused to ...