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

To: Dennis who wrote (241)	10/27/1997 12:22:00 PM
From: seminole	Respond to of 4916

Dennis <<<fbiox is too risky. Very high pe's and most companies have no earnings. Don't you agree ??>>>> High p/e ratios or no earnings for this group makes it seem risky but small stock without earnings disappointment is another way to view these companies. Value investors who buy this fund purchase patents and future earnings. Those who trade funds should note that this group moves in big leaps and not with a steady movement based on earnings. The fund tend to do better when money is cheap, interest rates low, and the broader market is weak. I view biotech stocks as portfolio insurance (they are not correlated well with the market). richard