Word: sectored
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...Growth fund, concentrated in health care and consumer services. Although the new fund has the same manager, a Berger spokesman says it is less aggressive. That might suit you just fine. Or you may not want to sell out of tech at what may be the sector's bottom. Either way, examine whether a new fund upsets your allocation of assets among industries and among large, midsize, small and foreign stocks. Don't let the fund industry's urge to merge mess up your diversification...
...subsidiaries backed by foreign heavyweights such as Hong Kong's Hutchison Whampoa and AT&T Wireless. Other rivals are piling in: a government phone company, Bharat Sanchar Nigam, is expanding its mobile network. And in December, India's powerful Ambani family, which controls Reliance Industries, India's largest private sector company, is launching a discount national cellular service. Industry experts say the market is becoming too crowded given India's relatively poor population?and Mittal is fighting on too many fronts. "He's chewed way more than he can eat," says an executive at a foreign telecom firm...
...pushing forward at the moment of maximum pessimism? The short answer: because he is able to when no one else can. As the new entrant in a depressed sector and with the financial backing of a larger diversified company, Hutchison is rare among telecoms in that it is not really a telecom company at all. In Hutchison Whampoa's latest fiscal year, for example, telecommunications amounted to only 13% of total sales and 3% of earnings before interest and taxes. Hutchison Whampoa's management likes telecom's long-term prospects for fast growth and high returns, but only...
...hanging fruit?nearly half of the residents of the country's wealthy coastal cities have mobile phones, analysts say. Now, China Mobile and China Unicom must fight for customers who, like Cong, are a harder sell. "The demographics are shifting to farmers and laid-off public-sector workers," says Shiv Putcha, an analyst for the Yankee Group, a Boston-based research firm, "none of whom represent ideal target markets for cellular services." Indeed, while existing customers have average monthly incomes of $200, potential customers only make $81 a month?close to the urban national average?according to a survey...
...Bush administration threaten our fundamental right to privacy. The first would give the administration the freedom to monitor and interrogate any or all Iraqis or Iraqi-American dual citizens living in the United States. The second would allow the government to collect individual consumer information gathered by the private sector to create profiles of citizens to identify potential terrorists. In the pursuit of national security, the Bush administration has shown a blatant disregard for the protection of civil liberties...