Joel Tillinghast, a longtime Fidelity stock fund manager who is writing a book about investing, asked how they think about companies' returns on capital.

WSJ: Q: What Does It Take to Get to the Oracle?

Bowers points out one apparent inconsistency that, he says, suggests input from Fidelity in the selection process: Although Morningstar had previously named Joel Tillinghast as one of two fund managers of the year, they did not recommend his Fidelity Low-Priced Stock ( FLPSX) fund in the small-cap category as a favorite--going instead with Fidelity Small Cap Stock ( FSLCX) .

FORBES: Morningstar Sellout