I just fired off a little stress relief to my primary 401k company, Fidelity:
“[At Fidelity] I currently own/invest in:
Fidelity Dividend Growth FDGFX
Fidelity Magellan FMAGX
Fidelity Select Software & Comp FSCSX
I owned 10 funds at one time, but when I saw them all falling through the roof I converted most to cash, so I could ride this out.
The problem is, YOU DIDN’T!
Am I supposed to believe that I, a complete idiot when it comes to finance, can manage my funds better than Lawrence Rakers, Harry Lange, and Mayank Tandon? How much do they get paid? I’ll do it for 1/2 what they are getting! What a deal!
I put my 401k into Fidelity to grow it. I put the 401k into mutual funds because I assumed someone competent would be running it, avoiding the crashes-like the one we’re in.
All we’ve seen is a bunch of fund managers watching as their holdings all went down. What the h*ll, man? _I_ can do that!
If I see my funds dropping the same as the Dow, S&P, NAS, CHN, etc. then SOMETHING IS WRONG WITH MY FUND MANAGERS.
Can someone please hold their feet to the fire, or hire someone like me? I saw this coming a mile away and saved 1/2 my 401k, leaving the other 1/2 in the hands of the “experts”.
Result? I have beaten the experts by over 30%. 30%. Think about it.
So when will we see our fund managers start to perform? _After_ the crash? I want my managers out of the lunchroom and hustling the short sales, making money the hard way, buying/selling the same holdings in cycles. This isn’t rocket science, guys! Remember those MBAs? Did my fund managers take them off the wall and hide them in shame?
Lets go, Fidelity. There is _always_ money to be made in the markets. You just have to lift a finger.
Very dissatisfied, and waiting to see professional improvement in Fidelity,