1 hour, 24 minutes ago BOSTON (Reuters) - U.S. stocks could be close to an "important bottom" as moves by the central bank and the government to spur the economy are likely to work, the manager of Fidelity Investments' best-known Magellan fund said."One rule of thumb I've found useful is that actual risk in the stock market is typically inversely proportional to perceived risk. Judging by that maxim, I think we could be close to an important bottom in stock prices," Harry Lange said in a commentary on Fidelity's Web site posted on Thursday.
Lange, who is managing the $40.5 billion Magellan since 2005, said the U.S. Federal Reserve's rate cuts and the federal government's $100-billion tax rebates over the next few months would boost consumer spending.
Read More
