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

To: Julius Wong who wrote (463)	11/22/1997 10:01:00 AM
From: Angler	Respond to of 4916

Dear Julius: Very nice to the point report. I'm a meat and potatoes investor (used to call them Joe Magees) so really like technical support adding to predictability. Regarding Department stores (whose earnings on some key items are under pressure from the likes of Walmart, Price Costco, etc.) they used to markup apparels and specialties double and then add $1 in my area. Sometimes they requested billing prices higher than actual quotation and then took future equal credits to accomodate advertising and markdown expense. Made the department mgr. look good. Jewelry and fragrances a triple markup - not as easy to obtain I would think today (with even TV retailers). But some brands only support Dep't stores. The long and wide selections of Department stores particularly have always appealed to the huntress (not the hunter who is usually good for one live kill there or wait in the parking lot) prowling for the entire pride, cubs and females. Discount stores resemble road kill in some ways - already plucked and cleaned and no bones about it. But there are the catologue sellers who have come a long ways from the days of Spiegel and Sears. Everyone's mailbox is full of that stuff. And finally the membership box stores who have captive trade based on their annual membership fees breed loyalty besides another way of making profit in advance. Drug store discounters really do grab a recognized item and sell it at cost. So retail marches on, and on and on. Angler