Word: teche
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...demoralizing test of the April lows. In short, gloom is as plentiful as the routers and switches Cisco can't sell. So a lot of investors are hedging their allegiance to technology--and rightfully so. If you want easy odds, take the Lakers to threepeat. Investing in tech has never been a lay-up, save for a few aberrational years...
Certainly tech stocks were no slam dunk in the '50s, when transistors replaced the vacuum tube, or in the '60s, when microchips supplanted simple transistors. Those developments gave rise to the upstart Intel, while the shares of companies like Transitron Electronics melted away...
This Darwinian action has been repeating in tech land for decades. Yet through it all tech's risks have yielded ample rewards. The key, as ever, is a long-term approach, limiting tech holdings to a comfortable percentage of your portfolio and staying well diversified within the sector. In most cases, that means investing through mutual funds...
...full swing, legends Peter Lynch (who can't work a PC) and Warren Buffett (who won't touch a PC stock) took a fair amount of grief for their technophobic ways. To their credit, they raised awareness of the risks building throughout the stock market--and in tech land in particular. Yet I thought they were wrong to warn individual investors consistently off tech stocks entirely, and I said so in a November 1999 column...
Given the painful losses that commenced just five months later and endured for more than a year, I've been doing some soul searching of my own. But after crunching numbers with the help of fund-research company Morningstar, I'm happy to report that tech still makes sense...