Tech Stocks: Still Looking For The Bottom
Garrett R. Van Wagoner manages $3 billion in technology mutual funds, and he's not thrilled. Through Dec. 8, his funds are down an average 5% for the year, and he's worried 2001 will bring more of the same. The Nasdaq is doing even worse--down 28.3% for the year and 42.2% off its Mar. 10 high. Meanwhile, the economy is slowing, and tech companies are cutting growth forecasts. "It's hard to dive in when you don't know where the bottom is," he says.
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