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Fidelity Observer

Tips, observations, and information relating to Fidelity Investments and other personal finance issues.

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Fidelity after Edward Johnson III

(Aug 3) A Boston Globe columnist, Steven Syre, has a column about speculation currently swirling around Boston: What will happen to Fidelity after Chairman Edward C. "Ned" Johnson III? Johnson is 76, and his daughter Abigail is a major Fidelity shareholder, but it's not clear what role she would play. Another potential internal candidate may be out ...    Read
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Blowing the whistle on mutual funds/hedge fund cheating

(Jul 23) Brooke Masters of the Washington Post has an article ("Tipster Set Fund Scandal Snowballing") about how a series of "drop a dime" calls to Eliot Spitzer's office resulted in an investigation of the mutual funds industry, and related hedge funds. The tipster, Noreen Harrington, a former Goldman Sachs trader, lifted the covers on after-hours trading ...    Read

Heat wave: Energy tips, and a blackout hits

(Jul 19) The country is moving through a heatwave. 100-degree temperatures. People darting between air-conditioned cars and office buildings. Kids running through sprinklers. Air con and fans on all night. Eggs frying on sidewalks. But there are some opportunities to save money, especially when it comes to energy costs. Timing air conditioning on/off times is an obvious ...    Read

Burned by Cingular II: A pattern of poor service, and sales sleaze?

(Jul 11) Well, well, well. Remember Fidelity Observer's post in April, complaining about poor service from Cingular ("Customer disservice: Burned by Cingular")? It seems that this is not an isolated incident. A Federal lawsuit claims that millions of former AT&T Wireless customers (such as myself) were the victims of a deliberate effort to force them to upgrade ...    Read       (5 Comments)

How to screw up your indexing strategy

(Jul 2) Mark Hulbert of the New York Times revisits the indexing debate, by pointing to the results of a long-term study by The Hulbert Financial Digest tracking the performance of newsletter recommendations and the S&P index. Fewer than one in seven was able to beat the S&P over the 26 years of the study. But there's ...    Read       (2 Comments)

Creative credit card purchases to build air miles

(Jun 26) The Washington Post has a great article by Keith L. Alexander about frequent flyer programs, and how people are using credit cards to build up miles to earn trips. Charging funeral expenses, new cars, and -- Fidelity Observer has a friend who did this -- kids' college tuition costs are all some of the tactics ...    Read       (4 Comments)

TIAA-CREF's five-step program for financial health: Fidelity Observer fails!

(Jun 20) There's an article in the June 2006 issue of TIAA-CREF Advance, "Get Your Financial House in Order." It suggests five steps members should take as part of a financial review. Unfortunately, Fidelity Observer only had one of the recommended steps fully under control. The other four steps were either partially completed, or not even started ...    Read

What the USAA ad didn't mention

(Jun 12) "pfblog reader" left a few comments and questions on an earlier post ("Bait and Switch: USAA Federal Savings Bank"). Despite the fact that USAA is raising fees as much as 400%, he or she seems to be supportive of USAA. He/she suggests there may be a very good reason for raising the photocopying fee from ...    Read

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