The Fidelity Select Biotechnology Fund (FBIOX) was the best performing Fidelity mutual fund in 2013. The chart shows that the price of FBIOX consolidated in October and December, but started the new year with impressive gains.
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We’d like to point out that after the recent large gains the biotech sector is overbought now and ripe for a pullback. Investing in this sector carries above average risks, but can be highly rewarding for aggressive investors.