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Tuesday, March 31, 2009|
Lowell Begs Ned Johnson to Acquire iShares
Jim Lowell, editor of Fidelity Investor and Forbes ETF Investor, is imploring Fidelity chairman Ned Johnson to snap up Barclays' iShares business. In an article titled Ned Johnson: Buy iShares, Please! published on the Forbes Web site Tuesday evening, Lowell said that with iShares up for grabs, Fidelity has the opportunity of a lifetime.
Johnson knows that history can repeat itself. He knows that Fidelity managed to miss the multitrillion-dollar index fund "fad" 30 years back; Vanguard won that battle. Today, Fidelity has only one ETF in the marketplace, the Nasdaq tracker. Missing the index mutual fund boom was foolish, and nothing in Ned Johnsonís kaizen DNA strikes me as someone who can be fooled twice.
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