It wasn't bad enough that they were loaded up on Freddie and Fannie, but then after tossing them, put over 25% of the fund into Wells Fargo...to promptly watch it lose over 50%. What kind of idiot fund manager puts 25% of an entire fund into one stock? Maybe that moron needs to go back to Investing 101 and retake the class on diversification. Sure it's a sector fund, but you still diversify within the sector.

I had been watching this as a play to catch a rebounding financial sector, but, considering WFC will be the next bank that sees a sub-$5 share price, this fund has a bunch to fall before hitting bottom.

My God - 25% of a mutual fund in one stock - you either have to laugh your ass off, or be crying that Fidelity has let this guys run a fund.