Certain investors may not want to hear it, but the best performing stocks during the past 12 months ...
Certain investors may not want to hear it, but the best performing stocks during the past 12 months are firmly in the technology camp, and the best performing of all is a pure-bred dot.com.
As fund managers scratch their heads over performance tables, and insurers look for ways out of their solvency issues in the face of falling share prices, investors in Lastminute.com are laughing.
Since July last year they have seen a return of 186.5% according to a Bloomberg ranking of the best performing techMARK All Share index members.
Compare that to the top performing FTSE 100 stock Imperial Tobacco, which during the same period rewarded investors with a 35.7% return.
In fourth place on the techMARK All Share is Ebookers.com, another online travel and leisure booking service, which returned 75.5%.
In between Lastminute and Ebookers lie Gresham Computing, a supplier of computer software and services, and Biotrace International, a supplier of kits for testing food, drink, water and cosmetics for microbes, which have returned 174% and 83.8% respectively.
Technology is still higher risk than plain vanilla blue-chip investments as measured by comparing the worst performing techMARK All Share stock and the worst performing FTSE 100 stock, and by comparing overall index returns.
Energis, the telecoms services firm gone bust has lost far more value proportionately speaking than the worst performing FTSE 100 stock with a 99.5% fall compared to Reuters, which lost 64.1% in the past year.
The FTSE 100 also remains a safer bet for those in favour of tracker funds, with the index down "just" 28% in the past 52 weeks, compared to the techMARK All Share's drop of 51% and the techMARK 100's fall of 53%.
Even in a shorter time-frame, however, technology stocks look more interesting: the FTSE just had one of its worst ever weeks, yet techMARK All Share stock Macro 4 still managed to return 75.5% to its shareholders in the five trading days to 16 July.
Compare that to the FTSE 100's best performing stock Xstrata, which only managed a net gain of 0% in the same period
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