The Big Screen: Health Care Funds That Spread the Money Around

Just as too much medicine can be a bad thing, this year is teaching us that a health care fund that strictly focuses on biotech is a bit too potent for most investors.

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As we noted earlier today, the health care funds that loaded up on the sizzling stocks of these cutting-edge drug companies rose highest last year and are falling furthest this year. Like the growth funds that stuffed themselves with tech stocks in 1999 and early 2000, these funds and their shareholders are finding out what's so often true: One year's magic bullet is often the next year's poison pill. Therefore, even in sector-fund ranks, it usually makes sense to focus those that cast a fairly broad net. ...