You don't get much fancy talk on the philosophy of investing from Jim Callinan. That is the essence of what I'm looking for. A lot of managers are growth hounds, of course, but Callinan delivers. Recent returns would please any venture capitalist. When a manager beats his benchmarks so soundly, you've got to ask whether he's simply taking on too much risk.
Technology companies account for half the fund's assets.
Of these, about one-third are Internet companies. But Callinan doesn't treat the Internet more reverently than any other tech sector. Even if Callinan doesn't mind paying up for growth, he knows a bargain when he sees one. And he'll often sell into a strong rally to trim holdings that may have run too far. Callinan insists he won't repeat such an error and thinks he might have a chance to prove it with current holding EchoStar Communications, a satellite broadcaster.