Working Assets Money from money: a look at a financial services fund

There's an old joke that goes like this: Ask a bank robber why he robs banks, and he'll tell you "Because that's where the money is." While that may be true, banks are no longer the only money game in town.

No doubt about it, banks are the first place most folks think of when naming environments where making money from money is job number one. But what about brokerage firms, insurance companies, real estate investment trusts (REITs), or any of a host of other financial services companies? If you're really into following the money trail, forget the old one-path-that-leads-to-one-door notion. Today, there are many roads leading to the moola. Picking the right ones is the trick.

The Fidelity Select Financial Services Portfolio has been around since December 1981. This fund has a long history and top-notch returns in its category, and, like other Fidelity Select Portfolios, it invests specifically in one sector--in this case, stocks within the financial services industry.