So, without further ado, I'm taking them in the order in which they appear in the booklet. My criticism is meant constructively. Fidelity's managers are pros. They aren't bums. No reason to excoriate here, I just want to help you make as informed a decision as possible.
All figures are with load.
He didn't have enough beverage stocks. From the looks of things, Porter didn't get nailed on a lot of dot-com consumer plays, though, which is impressive. Of course, we don't know whether he bought and sold some of them for big losses. Nothing in the portfolio presented here would indicate that he should have had such a poor year, so I wonder what happened. I also question his overreliance on media and entertainment stocks given the overall advertising slowdown that is now evident.