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Re: Free Fidelity food!
Old 12-27-2006, 04:58 PM   #21
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Re: Free Fidelity food!

So how big of a Fidelity account to you need to go this shindig. For some reason Schwab didn't have a Xmas party in their Honolulu office this year...

One comment on the oil stuff, IIRC. Back in the 1970 it took roughly 3x as much energy in the US to produce one $1 of GDP. )(I am pretty sure this wasn't just oil but things like coal). So the US despite being energy pigs is improving.
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Re: Free Fidelity food!
Old 12-27-2006, 07:37 PM   #22
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Re: Free Fidelity food!

Quote:
Originally Posted by clifp
So how big of a Fidelity account to you need to go this shindig.
I don't know how they picked the guest list, but I bet it's cheaper to invite everybody on Oahu than it is to re-open the Honolulu investor's center. My FIL doesn't even have a Fidelity account and they were happy to include him. I'd call Fidelity and ask to be added to the mailing list!

Quote:
Originally Posted by clifp
For some reason Schwab didn't have a Xmas party in their Honolulu office this year...
My FIL hasn't been invited to a Schwab affair since 2004, but I thought that's because we didn't buy anything. I'm glad to see we don't have to take it personally...
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Re: Free Fidelity food!
Old 12-27-2006, 11:12 PM   #23
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Re: Free Fidelity food!

Quote:
Originally Posted by Nords
but I bet it's cheaper to invite everybody on Oahu than it is to re-open the Honolulu investor's center.
Still remember the first time I went into a Fidelity Invest Ctr. It was a free-standing bldg in SoCal with some very nice wood trim interior, high quality carpet/flooring, real nice TI type imps., etc. Have to admit I thought about maybe it was almost TOO nice.....
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Re: Free Fidelity food!
Old 12-28-2006, 09:29 AM   #24
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Re: Free Fidelity food!

Quote:
Originally Posted by clifp
One comment on the oil stuff, IIRC. Back in the 1970 it took roughly 3x as much energy in the US to produce one $1 of GDP. )(I am pretty sure this wasn't just oil but things like coal). So the US despite being energy pigs is improving.
Clifp,
Is it expressed in inflation adjusted money? If not it means that we are getting worse.
According to official CPI calculator ( http://data.bls.gov/cgi-bin/cpicalc.pl ) one 1970 dollar is equal to $5.19 2006 dollars.
Do you remember the source of the energy/GDP statistic?

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Re: Free Fidelity food!
Old 03-30-2007, 12:53 PM   #25
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Re: Free Fidelity food!

Another Free Fido Food report (not mine) for those who are interested in such things: http://66.223.18.76/wwwboard/messages/175012.html

Quote:
Hi FundAlarmers,

Last night I attended a reception hosted by Fidelity Investments
celebrating the opening of a Flagship Investment Center in Los
Angeles. It’s only the third such Flagship facility in the United
States. Bruce Johnstone, a senior marketing investment
strategist at Fidelity, was the keynote speaker for the event. Mr.
Johnstone successfully managed Fidelity’s Equity Income Fund
for 2 decades, but his most recent area of expertise focuses on
foreign markets.

Mr. Johnstone’s keynote presentation centered on an individual
investor’s current asset allocation decision dilemma. His
bottom-line is, although still positive about US returns, he
forecasts superior returns for foreign equities.

The basis for that conclusion is an assessment of 3 support
pillars that Johnstone examines to formulate his judgment.
Those 3 pillars are corporate earnings growth rate, inflation/
interest rate environment, and equity evaluation measures (like
market P/E ratios). For the US equity marketplace, he finds
corporate earnings growth potential subdued (single digit down
from double digits), inflation rate/interest rate environment
acceptable, and evaluation measures in neutral (not likely to
expand thus not enhancing returns). Overall, over the next few
years, Johnstone expects US returns to be single digit positive.

In contrast, he is much more constructive in his assessments of
near term foreign investment prospects. He emphasized foreign
GDP growth rates and national movements towards democratic
reforms that give people freedom to own property. By the way,
he fears the negative impact that the US residential housing
market and its supporting industries can have on the US
economy in the next several years.

Mr. Johnstone only invests in actively managed mutual funds.
Even at an age of 66, he only holds equities, no bonds. He
advocates and practices broad worldwide diversification
including currency elements. His neutral asset allocation would
roughly follow global capital weightings. In today’s world, a
neutral position would allocate 45 % of holdings in the US
markets and the other 55 % in foreign investments. But
Johnstone’s evaluations suggest an edge to the foreign markets.
Last year, Johnstone’s portfolio had 65 % foreign tilt. As of
yesterday he estimated a 72 % foreign holdings tilt. Mr.
Johnstone recommends all individual investors consider a
foreign holdings overweight asset allocation. He believes the
foreign investments will offer higher returns beyond US returns
for many more years in the future.

He emphasized that none of the Fidelity Funds are currency
hedged. Therefore, a private investor can benefit from any
falling US dollar scenario by using non-hedged foreign mutual
funds without entering the risky foreign-exchange marketplace.

This is the third time in the last 2 years that I have attended a
lecture given by Bruce Johnstone. His presentations are well
documented and also entertaining. They have been consistent
in their viewpoint. That viewpoint highlights broad
diversification, especially into the international equity markets.

I hope this helps all you in forming your own global asset
allocations.

Best Regards,

MJG
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