The Wall Street Journal's Tom Lauricella penned a sparkling profile of John Roth, PM of Fidelity [profile] New Millennium, a $2.3 billion fund.

Roth is presented as one of the few stock-picking fund managers to succeed at a time when it has been difficult for stock fund PMs to make picks that beat the market. The fund has beaten the S&P 500 index 98 percent of the time on a rolling three year basis, Lauricella writes.

Lauricella reports that Roth, who joined Fidelity in 1999, says investors are less concerned about systemic risk and will begin to seek better than average returns in a bull market, leading them to active managers like himself.

Roth also noted that stock mutual funds have an advantage over hedge funds, as hedge funds have increasingly shorter time horizons and mutual funds can ride out the bumps in the market, Lauricella writes, quoting the PM as saying, "Those are pretty powerful things."

To read more, click here. 

Edited by: Casey Quinlan


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