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The article offers a look at the stock performance of Magellan, Fidelity's flagship equity mutual fund in 2005. Under the management of Bob Stansky, who resigned as the manager of Magellan on October 31, 2005, the mutual fund had posted impressive returns. But he ultimately paid the price for betting too heavily on the growth prospects of U.S. leading companies. The flagship stock of the U.S. have not performed well since 1999 until mid-December 2005. Therefore, Magellan under performed the market so badly.

If you’re a corporate executive and you’re watching this public relations mess unfold, here are three immediate things you should take away from the incident. [ABSTRACT FROM PUBLISHER]