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Fidelity mutual fund group takes gamble on Stirling Cooke

Boston-based Fidelity Management & Research Corp. has taken a gamble on beleaguered Stirling Cooke Brown Holdings and acquired 8.5 per cent of the company's outstanding common stock. Fidelity's shareholding, which is disclosed in Stirling Cooke's recent Proxy Statement filing, makes it the second biggest shareholder in Stirling Cooke after Goldman Sachs.