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

To: Julius Wong who wrote (4057)	11/19/2001 7:22:52 PM
From: Julius Wong	Read Replies (1) \| Respond to of 4916

Merrill Lynch Focus Twenty Fund James D. McCall, resigned as manager of the Merrill Lynch "Focus Twenty" mutual fund. According to a recent Washington Post column by James Glassman. "it is hard to imagine losing as much as Focus Twenty did even if you tried. As of Nov. 9, the week McCall resigned, the fund was down 72 percent for the year, compared with a loss of 14 percent for the Standard & Poor's 500-stock index, the benchmark for fund managers." Two years ago, after hiring McCall, Merrill's brokers raised more than $1.5 billion from their clients for him to invest. "Within just 17 months, all but $650 million of the clients' original $1.5 billion had vanished" according to Glassman. washingtonpost.com