Hey Jeremy! I wanted to get your opinion on FLPSX.
https://money.usnews.com/funds/mutual-funds/mid-cap-value/fidelity-low-priced-stock-fund/flpsx
I’m currently making monthly contributions to it in my brokerage account with Fidelity. My TSP, IRA, and 529s for the kids are already all squared away with low priced funds that follow the Dow and S&P.
Hey Justin!
Hm… it’s kind of an interesting fund. According to Fidelity, the strategy is:
Normally investing primarily in common stocks. Normally investing at least 80% of assets in low-priced stocks (those priced at or below $35 per share or with an earnings yield at or above the median for the Russell 2000 Index), which can lead to investments in small and medium-sized companies.
So basically it’s looking for smaller companies that are a good value (as opposed to high expected growth). GENERALLY, I always prefer to invest in “low fee, broadly diversified” index funds. This fund doesn’t really meet that bar because the expense ratio is 0.52%, it’s not super well diversified, since it’s missing big companies, growth companies, etc. And it’s not an index fund, since it’s actively managed (a fund manager is paid to pick and choose stocks for you).
When you look at how it stacks up to the FSKAX, the Fidelity total market index fund (Expense ratio 0.015%, or 35x less) over the last few years, it didn’t fare so well:
So, while it’s certainly possible it will outperform the index fund in the future (as a small percent of actively managed funds do), it’s impossible to know WHICH actively managed fund will outperform. That’s why I prefer to take the sure thing and guarantee myself my fair share of market growth by buying and holding broad market, low fee index funds 
Sounds good brother! I have made the necessary changes. I have sold FLPSX & FBALX and now all my various Fidelity accounts 100% reflect low cost index funds. As always, your insight is greatly appreciated!
Thanks,
Justin