Knowing when to get in ―and out―of a sector can pay off big. If you'd bought gold funds a year ago and sold now, you'd be up 40%. If you'd bought in 1997 and sold a year later, you'd have lost 40%. Craig Callahan is one money manager who has profited in the treacherous field of sector investing. Best described as a hybrid of market timer and value investor, Callahan, 52, is chief investment officer of Meridian Investment Management, adviser to Denver-based Icon funds, a six-year-old, no-load fund family that manages $1.4 billion.
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