It's possible to avoid last year's pitfalls

The demise of technology funds over the past 12 months has been well documented à valuations were too high and unsustainable, profit warnings and downgrades came one after another, dot.com companies collapsed and market sentiment turned away from high growth technology stocks. The momentum was no longer there. The fall reaffirmed the frequently quoted industry phrase 'past performance is no guarantee of future returns and the value of investments can fall as well as rise'. A positive aspect of the fall is that it has been indiscriminate and there will be some good stockpicking oppor...