It is the area in which the U.S. has the most expertise. There's always innovation, and that means there is always opportunity. Only in this period of insanity were my hands tied. With technology you have to factor in obsolescence. The hottest companies in the late '70s and early '80s were Prime Computer, Wang Labs, Digital Equipment, Data General.
None is around anymore.
Microsoft's revenue growth is almost zero. I only know that now is not the right time to jump in. The Nasdaq's price-earnings ratio is still 100. That is nowhere near the bottom of a market. People poured money into technology funds after the tremendous run-up in 1999, and most of the money came at the end of the advance.