Word: magellans
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...snazzy product that resembles the Magellan RoadMate series, the Blackbird also suctions to your windshield and powers itself from your 12V lighter jack. That's the only plugging you have to do in order to play - its internal GPS receiver quickly picks up your location, even if your view of the sky is partially obstructed. It contains the latest version of Navteq's map database, the same database used by Mapquest and Google...
...that lights up a dim piece of the past. This was the seductive story on offer in Beijing last week when lawyer and collector Liu Gang unveiled a map that, he says, proves the Chinese had detailed knowledge of world geography long before the voyages of Columbus, Magellan and da Gama brought such insights to Europe. This "Overall Map of the Geography of All Under Heaven," which Liu says he bought for $500 in Shanghai's Dongtai Road Antique Market, includes notes claiming it was drawn in 1763 as a copy of a map from 1418. It purports...
...everyone is a fan. California sued American Funds, claiming it failed to disclose rewards the company paid brokers for pushing its funds. The suit was dismissed last month. And some are worried that American Funds' biggest funds are at the breaking point that Magellan reached more than a decade...
...Magellan, once the largest stock fund of any kind, has seen its assets shrivel to less than half its peak of $110 billion in 2000. It lost its biggest-fund title to the Vanguard Index 500 in April 2000, and isn't even Fidelity's largest fund today-it now trails the $56 billion Fidelity Contrafund. But Magellan remains by far the company's most visible-and hence most important-fund. During half of the years in the 1977-to-1990 tenure of the incomparable Peter Lynch, the fund recorded gains of more than 30%. To some of the company...
...management switch at Magellan is yet another attempt to re-instill the kind of bold stock-picking of Lynch's heyday. "We have a very different business model than Vanguard or American," says Fidelity spokeswoman Anne Crowley. "Half our revenues come from non-fund, fee-related businesses like the brokerage business, where we are a significant player." Indeed, Lange is expected to emulate Lynch's method of mixing up the portfolio with some smaller companies. Even with the fund having lost half its assets, it remains a behemoth, which leaves Lange confronting the same hurdle that tripped up Stansky...