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

To: scaram(o)uche who wrote (985)	6/19/1999 2:48:00 PM
From: Mike McFarland	Read Replies (2) \| Respond to of 1073

Ideally you would want to know why each person does well, and when they outperform. After my SoftQuad debacle last September (that was an internet--XML play) I hunkered down in microcap biotechs. My portfolio had bottomed out somewhere around 31k by October 1st, and has rebounded to as high as 60k a few weeks ago...though it gave some of that back two weeks ago. I guess I figured wrong and I'm up 20% YTD, but that is meaningless in nanocap land, where both the market risk volatility as well as individual stock risk is incredible. So what is a person to do? (Maybe there are some biotech newbies to this thread lurking) Well sorry, I certainly do not have the answer, I wish I could say buy and hold companies with great science is the way to go--but we know management is half the equation. I wish I could say buy Peter and Rick's top two picks--but I don't really know these guys, we know they're brutally honest on these threads, so that is good, but in general you don't want to go around buying what others recommend "do your own DD" is the cliche. I think there is one thing we do know--that the biotech mutual funds are probably not the way to go. FBIOX is doing pretty well, but you shouldn't have to pay the load, and this new fella is probably pretty green. Finally, apologies for not posting the FBIOX holdings and changes (the top ten are available on the Fidelity website, but the changes in the amounts of smaller holdings is what is interesting). I never received the bi-annual update...maybe because I was in select money market. With my select money in gold now, maybe I'll get the select report soon, but no promises.