Since taking over Fidelity Investments' struggling Magellan fund last June, Robert Stansky has been the most watched man in mutual funds. Magellan, with $54.7 billion in assets, is the biggest fund in the U.S. Stansky is trying to revive not only Magellan but also with it Fidelity's tarnished reputation as a money manager. He is making progress. Magellan's year-to-date return of 13% is better than that of 56% of its rivals but still trails major stock indexes. He talked recently with TIME'S Sam Allis.
TIME: The stock market has been all over the place lately. How nervous should we be?
Stansky:...
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