rs internet age fund performance technology stocks led by the were very strong in first six months of 2003 tm was up 46 79 versus 42 33 for benchmark thestreet com phlx sector dot 1 marked contrast to past couple years quarter earnings companies better than expected we are optimistic that fundamentals have bottomed out and beginning show signs improvement portfolio review our consists some most dynamic fastest growing believe many these could grow revenues greater 20 per year over next several annual report letter last january stated view current valuations reflected an overly pessimistic outlook market had yet differentiate between future winners losers within each tech since then meaningfully appreciated now reflect a more still has reward best positioned highest quality however other words rising tide lifted all
