Magellan chief’s goal: Beat S&P 500 each year
Fidelity Investments’ Magellan Fund has had a long line of larger-than-life managers, from chief executive Edward C. “Ned” Johnson 3d to legendary stock-picker Peter Lynch. But Magellan — once the world’s largest mutual fund — stumbled in recent years. We recently talked to Magellan chief Jeff Feingold who took over in September 2011. Feingold wouldn’t discuss specific stock picks beyond what the fund’s Sept. 28 disclosure showed, but here are his thoughts on the markets in general.