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Biotech / Medical : T/FIF Portfolio -- Ignore unavailable to you. Want to Upgrade?

To: Pseudo Biologist who wrote (977)	6/18/1999 1:01:00 PM
From: scaram(o)uche	Read Replies (1) \| Respond to of 1073

PB: I am in complete agreement with what you're trying to say.... we are comparing apples to oranges, but...... nonetheless, you can't make von Emster's fruit looked polished. Please take this as mere commentary....... no, you're wrong...... the minus 7.8% is one year performance through May 28. The minus 8.2% for Global Health is the three year performance through May 28. The numbers are not year-to-date, and we'll soon have annual numbers such that we're comparing apples with apples (ignoring David's relevant comment, so I can't win........... :-)...... Four weeks ending May 28, 1999 SYMBL SECURITY SECTOR CLOSE 4 Week* 1 YR. 3 YR. -------------------------------------------------------------------------- FBIOX Fidelity Selects: Bio [Health] 41.36 +3.9% +32.2% +15.3% FBDIX Franklin Class A: Bio [Health] 23.57 +0.8% -7.8% NA FKGHX Franklin Class A: GlH [Health] 13.88 0.0% -23.2% -8.2% --------------------------------------------------------------------------

To: Pseudo Biologist who wrote (977)	6/18/1999 1:39:00 PM
From: scaram(o)uche	Respond to of 1073

"Fidelity's shareholders paid 1.5% in expenses last year; Franklin's paid 1.47%. However, the 5.75% sales charge for Franklin's class-A shares is much higher than Fidelity's front-end fee of 3%." morningstar.net Fidelity Select Biotechnology Franklin Biotech Discovery YTD Return 9.08% -5.3% 1-year Return 28.16% -3.3% 3-year Return 18.56% N/A Category Risk Avg NA Data through 3-31-99 ***************************** Everyone who wants to pay Kurt 5.75% to let him manage your money, please raise your hand. I have some land in Florida.......

To: Pseudo Biologist who wrote (977)	6/18/1999 3:35:00 PM
From: John Metcalf	Read Replies (1) \| Respond to 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.