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Strategies & Market Trends : Fidelity Select Sector funds -- Ignore unavailable to you. Want to Upgrade?

To: seminole who wrote (2250)	2/1/2000 6:20:00 PM
From: MoneyPenny	Read Replies (1) \| Respond to of 4916

I personally don't worry about manager changes on the selects. They are sector funds that primarily use mechanical methods to select the best stocks in a sector. They also have all the advantages of Fidelity's research. The select funds serve as an incubator for the mutual fund managers of tomorrow. What matters most in the market is the timeliness of your sector bets. You can have a manager that selects the top companies in his sector but if the timeliness (ala Value Line and IBD) stinks, your fund will stink. FSESX really operates on its own set of values. Our big secret tool here is the Fabulous Mr. Wong and Jim B. Psst. Don't let any one know. <G> Sharon

To: seminole who wrote (2250)	2/1/2000 9:26:00 PM
From: Julius Wong	Respond to of 4916

Richard: I understand your concern. Fidelity does rotate select fund managers a lot. Since Fidelity has a first rated research team, the manager of a select fund does not need to do too much. As studies shown, the frequent change of select fund managers had little impact to select fund's long term performance. You are right on the longer time frame. There are many long term investors and we love to have their participation in this thread. I have formulas for both short term and long term and the computer calculates all formulas every day. I'll post information for longer term time frame. Julius