Harry Lange, a manager of Fidelity Investment’s popular $40.5 billion Magellan fund, believes that once the effects of the central bank’s rate cuts and the government’s economic stimulus packages kick in, U.S. stocks could be near an “important bottom.”

On Thursday, Lange expressed his views on Fidelity’s website saying, "One rule of thumb I've found useful is that actual risk in the stock market is typically inversely proportional to perceived risk. Judging by that maxim, I think we could be close to an important bottom in stock prices.”

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