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

To: Angler who wrote (4368)	4/10/2002 8:39:42 PM
From: MoneyPenny	Read Replies (1) \| Respond to of 4916

haven't sold it or defense & Aerospace. Actually have traded some penny canadian gold stocks for dot.com type profits. I am very bearish on real estate as I feel we are heading for bubble ala Japan. Most of our spending has been by adding to our debt, ala refinancings, etc. I live in Planet Florida, the southern Gulfcoast, where real estate takes the place of casinos (and the stock market). Buying is somewhat nuts at the upper end. How do you like 30Million for a tear down lot in Naples (nice dock and also gulf beach front). Greenspan cut rates 11 times last year...from 6.5% to 1.75%. The lower rates - and unshaken faith in America's miracle economy - induced consumers and businesses to do something they had never done before: go deeper into debt during a recession. "Debt by private households and nonfinancial corporations," explains..Dr. Kurt Richebacher, "increased by a record $1,109 billion. The financial sector added another $916 billion to its debts, also an all-time high." "For every single dollar of additional GDP," Richebacher continues, "the U.S. economy incurred $65 of additional debt...hardly a promising start for a recovery." Will try to find the link to the above...got lost. I like Black Gold, Texas Tea or whatever you want to call it and gold, and cash and the tip bonds (treasury inflation protected bonds). I think capital preservation is probably going to be important for a while while all this shakes out. Just my thoughts. I'd consider FSESX again too. It is always a roller coaster ride but the timing seems propititious. (how do you spell that?) Sharon