Fidelity Select Sector funds Message Board

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Strategies & Market Trends : Fidelity Select Sector funds

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To: Julius Wong who wrote (4768)	9/1/2002 2:06:43 PM
From: Angler	Read Replies (1) of 4916

Julius: recognizing that these sector funds are "trading vehicles", it is apparent that in an up market with good forward promise most of these sectors might be held for a period of time from watch to watch without too much damage to ones capital. Otherwise the influence on the portfolio seems more sensitive than owning single stocks if one doesn't stay on top of it daily. I tend to overlook fund movements too late when I can't ignore companies. Now after listening to Brinker's Saturday radio broadcast opening remarks about the way the admirals in management weigh heavily on their fund managers to stay fully invested sink or swim, it becomes visible that the captains are expected to go down with the ship. The perspective has normally been that these ships will bob up again. But myself, being one of the crew below decks, I don't feel that my chances of bobbing up again sometime in the near future are that great when we're in rough seas. If sector fund and other managers too were allowed to retreat for cover (within parameters) and go into higher cash positions during fallouts, might not the effects of this bear market been eased for all family investors? At least the redemptions (as in July) would not be so damaging to the funds and movements since redemptions would lessen as drops became less dramatic and worrisome and the need to raise cash the same. What we're all buying is not going away. The oil fields and the hospitals and what have you are still there. If we don't bet, there's no loss and nothing's changed. Maybe it's like a war, and I'm too old to fight? Anyway it goes, when the going gets tough, I'll take cash so I can buy again cheaper. So either the manager does it, or we'll do it. A trader...... Angler

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