Doug Fabian's Reveals 1st Quarter 2001 Lemon List; Fidelity, Putnam and Vanguard funds Named on Worst Offenders List

Apr 23, 2001, 01:00 ET from Fabian Investment Resources

    HUNTINGTON BEACH, Calif., April 23 /PRNewswire/ -- Doug Fabian, president
 and editor of Maverick Advisor, a 24-year investment newsletter
 advisory service, released his 1st Quarter 2000 Lemon List, reporting
 319 funds with assets of $189 billion.  Since 1998 Fabian has
 published the worst performing funds in the mutual fund industry, and
 this quarter he's telling investors to sell off under-performers to
 raise cash for better investing days ahead.  The complete Lemon List
 is available on Fabian's web site at www.fabianlive.com.
     "In this first quarter, we've found that well-known fund families,
 the ones that are supposed to be more stable in downside markets, are
 showing up as blatant underachievers," says Fabian.  "Big funds such
 as Putnam New Opportunity, Fidelity Adviser Growth Opportunity, and
 Fidelity OTC, are huge disappointments when you compare them with
 their peers.   Investors should squeeze the lemons out of their
 accounts and choose funds that perform better than their peer group
 averages, not worse."
     A surprise lemon this quarter is Invesco Blue Chip Growth (FLRFX), a
 popular fund for long-term investors, performing at a dismal -57.78%
 for the past year, -7.52% for the past three years and its five-year
 average was 5.53%.
     To appear on Fabian's Lemon List, it's three strikes and you're out.
 A fund must under-perform its peer group average by 25% the first
 year, and underperform for three and five years as well.
     This quarter, Fabian has picked ten worst offenders, based on
 asset size:
 
     Ticker          Fund Name                              Assets (Millions)
     PNOPX           Putnam New Oppty;A, B, M,Y             22,336.50
     FAGOX           Fidelity Adv Gr Opp;T, Ins             11,765.60
     FOCPX           Fidelity OTC                           9,161.40
     PEQBX           Putnam Global Growth;B, A, N, Y        5,485.00
     AGBBX           Alliance Growth;B, A, C                5,452.70
     FDESX           Fidelity Destiny I;O                   4,678.80
     PIOTX           Pioneer II;A                           4,582.30
     POEGX           Putnam OTC Emerg Gro;A, B, M           4,037.40
     VSMGX           Vanguard LS Mod Growth                 3,839.00
     PBQAX           Prudential Equity;A, B, C, Z           3,565.60
 
 
     Founded in 1977, Fabian Investment Resources is a mutual fund
 advisory and variable annuity service for the self-directed investor,
 owned by Phillips Investment Resources, Phillips Publishing in
 Potomac, Md.  In 1999, Fabian became a member of the "Smart Money
 30"--a listing of the most influential individuals in the mutual fund
 industry.  He also shares his unconventional wisdom with investors
 via his radio show, "Maverick Investing," every Saturday.
 
 
 

SOURCE Fabian Investment Resources
    HUNTINGTON BEACH, Calif., April 23 /PRNewswire/ -- Doug Fabian, president
 and editor of Maverick Advisor, a 24-year investment newsletter
 advisory service, released his 1st Quarter 2000 Lemon List, reporting
 319 funds with assets of $189 billion.  Since 1998 Fabian has
 published the worst performing funds in the mutual fund industry, and
 this quarter he's telling investors to sell off under-performers to
 raise cash for better investing days ahead.  The complete Lemon List
 is available on Fabian's web site at www.fabianlive.com.
     "In this first quarter, we've found that well-known fund families,
 the ones that are supposed to be more stable in downside markets, are
 showing up as blatant underachievers," says Fabian.  "Big funds such
 as Putnam New Opportunity, Fidelity Adviser Growth Opportunity, and
 Fidelity OTC, are huge disappointments when you compare them with
 their peers.   Investors should squeeze the lemons out of their
 accounts and choose funds that perform better than their peer group
 averages, not worse."
     A surprise lemon this quarter is Invesco Blue Chip Growth (FLRFX), a
 popular fund for long-term investors, performing at a dismal -57.78%
 for the past year, -7.52% for the past three years and its five-year
 average was 5.53%.
     To appear on Fabian's Lemon List, it's three strikes and you're out.
 A fund must under-perform its peer group average by 25% the first
 year, and underperform for three and five years as well.
     This quarter, Fabian has picked ten worst offenders, based on
 asset size:
 
     Ticker          Fund Name                              Assets (Millions)
     PNOPX           Putnam New Oppty;A, B, M,Y             22,336.50
     FAGOX           Fidelity Adv Gr Opp;T, Ins             11,765.60
     FOCPX           Fidelity OTC                           9,161.40
     PEQBX           Putnam Global Growth;B, A, N, Y        5,485.00
     AGBBX           Alliance Growth;B, A, C                5,452.70
     FDESX           Fidelity Destiny I;O                   4,678.80
     PIOTX           Pioneer II;A                           4,582.30
     POEGX           Putnam OTC Emerg Gro;A, B, M           4,037.40
     VSMGX           Vanguard LS Mod Growth                 3,839.00
     PBQAX           Prudential Equity;A, B, C, Z           3,565.60
 
 
     Founded in 1977, Fabian Investment Resources is a mutual fund
 advisory and variable annuity service for the self-directed investor,
 owned by Phillips Investment Resources, Phillips Publishing in
 Potomac, Md.  In 1999, Fabian became a member of the "Smart Money
 30"--a listing of the most influential individuals in the mutual fund
 industry.  He also shares his unconventional wisdom with investors
 via his radio show, "Maverick Investing," every Saturday.
 
 
 SOURCE  Fabian Investment Resources