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Biotech / Medical : T/FIF Portfolio
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To: Pseudo Biologist who wrote (977)6/18/1999 3:35:00 PM
From: John Metcalf  Read Replies (1) of 1073
 
Thanks, PB. To get an apples vs. apples comparison, AMEX Biotech gained 23% from 5/28/98 to 5/28/99. The closing values on those dates were 163.67 and 201.10. Obviously, buy and hold was not the winning strategy in this time frame, and one should expect a managed fund to out-perform this index.

When one year return numbers are available for August 99, then we can see how each index or managed fund handled the opportunity to buy biotech at extremely depressed valuations.
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