Also, the fund has become more diversified, where it was once almost solely pharmas and biotechnology.
Christopher Davis
They were stealing change and CDs, maybe some credit cards, when they stumbled onto these things. I imagine it opened their eyes up a little bit.
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I believe he still knows where they are and may still have access to them somehow,.. They're going to be so hot now I can't imagine anybody wanting them.
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I counsel anyone who asks me, they ought to get out of their adjustable-rate mortgage now if they're going to live in their house for more than three or four years
live house
Hey, looking for a good time.
time good
Portfolio manager Bob Smith has been in charge since 1997 and is a very smart, capable investor who won't throw caution to the wind
smart caution wind
This is going to be a time that tests people's conviction, and people have thought often of how much money they can make and not enough about the question: How much can you lose? I'm reminded of a great quote by Warren Buffett when he said: 'It's only when the tide goes out that you see who is swimming without a bathing suit,'
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I think that in the high-tech area there were obvious areas of tremendous excess, and yet, of course, it's one of the great growth engines of the economy. Every investor thinking about the long term wants to own growth, but you have to buy it at a sensible price. And in the tech area, there are wonderful concepts, wonderful ideas, great productivity drivers, but still many overpriced issues
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[In addition, some money managers have come to believe that options have not lived up to their billing. The idea was that options would align top executives' interests with those of the shareholders. But they also give executives incentive to use questionable techniques to lift the stock -- often a short-term boost so they can cash out.] The trouble with options,.. Is that they allow management to get rich even if shareholders do lousy.
trouble management idea money rich interests cash options give managers
I really do have to sit down and make decision and it's hard to do. It's like I'm putting the city that I love behind us.
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