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Strategies & Market Trends : Fidelity Select Sector funds

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To: Dennis who wrote (4798)	9/25/2002 5:14:02 AM
From: MoneyPenny	of 4916

I just keep thinking that all the advice re: reits, real estate, fnm,Fido Mortgage Securities (which did very well for me for a long time but I have sold) etc. is sounding suspiciously like the can't lose propositions proposed by the market makers for telecom a few years ago. All bandwidth talk and unlimited growth because of world demand, yada yada. They are off 80% and more. I certainly hope that the real estate sector is not headed for a telecom type debacle (after all, I make my living on straight commission furnishing high end vacation and winter homes) but it is looking like it is more deserving every day. Everyone where I live says SW Florida is immune to property value decline and the money is flooding in here still but at a little slower pace this fall. Still lots of flipping of new construction which is the lifeblood to my profession. Many of my colleagues have taken all equity value from their homes to finance the flipping of such homes and I just pray they can sell them quickly.

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