The Wall Street Journal recently discussed David Einhorn’s pitched battle against Athenahealth (ATHN) in which some heavy hitters in the mutual funds business – Fidelity Funds included — are on opposite sides of this argument.
Einhorn believes ATHN stock is crazy overvalued and could fall as much as 80%. Meanwhile, Fidelity owns almost 12% of the company, including more than a million shares in its Fidelity Growth Company Fund (FDGRX).
Fidelity obviously is quick to disagree, then — but don’t just write it off as bias. Fidelity is a world-class mutual fund company, and its managers know what they’re doing.
Which is precisely why, regardless of your view of Athenahealth, you should give some Fidelity mutual funds a look if you’re looking to make some moves in your long-term portfolios.
Granted, you can’t jump into FDGRX — it’s closed to new investors — but there are so many Fidelity mutual funds with Morningstar’s five-star rating that it’s not hard to find a comfortable fit for everyone. Here are what I believe to be the five best Fidelity funds to own — and all of them meet Morningstar’s stringent criteria over a five-year period.