http://fundalarm.com/hilights.htmHere's an amusing paragraph from Roy Weitz's FundAlarm Commentary page:
Quote:
Spain's Private Media Group is a publicly-owned, adult entertainment company.....Private Media is looking to expand its presence in the U.S, and it would especially like to find a sponsor for its reality TV show, in which five ordinary guys compete onscreen (in ways you'll have to imagine) to earn a contract as a porn star.....Even as it looks for a TV sponsor, Private Media has strong financial backing from at least one company with U.S. ties.....Fidelity International is Private Media's biggest institutional investor, with almost three million shares (that's about 5.8% of the company, worth about $12.3 million).....Fidelity's U.S. fund arm, Fidelity Management and Research, owns about $1 million worth of shares*.....We're not sure which Fido funds actually own Private Media stock, but we can say for sure that Fidelity's Puritan fund does not.
* Barron's, December 6, 2004
PS. Roy's commentary is a must-read if you have mutual funds, to see how you get cheated, and it's a hilarious read too.
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"If they can't picture me with a knife, forcing them to strip in an alley, I don't want any part of it. It's humiliating." - windsock
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