The market is telling Fidelity it has to pay more.

Investors need to watch to see who becomes the new manager.

It's really paid off to have active managers like Bob Stansky during the first six months of the year. Fidelity managers really took advantage of the market correction in April and May to add to their tech positions.

We think it's important that Fidelity slow down the exodus of top people. They could do that with more money or an equity stake.

We really enjoy wines and this gives you a chance to enjoy wines you can never try.

What's significant in these figures is the stock holdings have increased substantially and the bond position is down. We continue to see evidence that Bob Stansky is reshaping his portfolio by purchasing blue chip companies with outstanding growth characteristics. He is using existing cash reserves, proceeds from bond sales and revitalized inflows.