This article http://cbs.marketwatch.com/archive/19990825/news/current/superstar.htx?source=blq/yhoo&dist=yhooreports two Fidelity Sector funds, FSELX at 114.7% and FSTPX at 102.4% as the two top performing mutual funds for the last "year."
Heh... that's very cute.I'm amazed nobody (read 'an editor') has noticed the entire column has the same error.
Need I put this in perspective? Index funds and large cap funds will do 20 to 30% in a good year. Recently we have talked about Janus XX, which did 70% in 1998. Fidelity Select Electronics in a recent unspecified 12 months (probably ending June 30) did 114.7%. That is an average of 9.6% per month or 6.6%/mo compounded--a bit better than CD's.Clearly technology stocks and sector funds are hot!!
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