FWIW, Kevin Landis of the Firsthand funds was up 77% last year, and in an interview with SI's Mark Johnson at audioinvestor.com noted he likes Vitesse
From March 1999 Money magazine:
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Kevin Landis, has more than half of its assets in five blue-chip stocks--Cisco, PMC, Sierra, Intel and Texas Instruments. Firsthand rose 77% last year.
Landis is the first to concede the perils of his approach. But he believes that in a field where companies come and go overnight, it makes sense to load up on the obvious winners. He points to Cisco, which is 10% of the fund's assets. "People are more and more geared to connectivity, and Cisco is providing the access gear to provide the cable-modem build out," says Landis. "I don't know exactly what Cisco will be worth in three to five years, but I know it will be in the thick of it."
Sounds reasonable enough. But by concentrating so much on just one or two stocks, managers like Landis add another layer of risk to an already nerve-racking investment. Over the past three years, according to Morningstar, concentrated tech funds have proved 22% more volatile than relatively diversified ones. |
