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Why does Fidelity Magellan Fund get a 3 star, "average" Morningstar 10 year rating?

Asked by GeorgeGee (4925points) November 2nd, 2010

Ten years ago, Fidelity Magellan fund shares were worth twice what they are today, so investments in their fund have lost an average of 5% every year. How does this merit a 3-star rating? Or are the ratings more meaningless sales hype?

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