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"Peter W. Aan" wrote:
> For several years I was out performing the indices, but in recent years I
> have lagged behind, although my overall return has been quite good. The
> reason for this is that the nonstop bull market of recent years has had me
> little too little stocks and too much cash...
There may be another reason. I did a quick analysis of the Fidelity Select
(sector) fund returns between the end of the bear market in 1990 through the
end of 1998. Only about a third outperformed the major indices in a majority
of the years (5 or more out of 8) since that date (and most of the
outperformance took place in the early years of this bull market). I agree
with one market analyst who has stated repeatedly that just about nothing will
outperform the major indices consistently until the end of the next ugly
secular bear market. Robyn
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