Fund manager david ellison missed the festivities during the great tech party of the late 1990s. A Peter Lynch protege at Fidelity Investments specializing in finance-company stocks, he hopped over to Friedman Billings Ramsey & Co. in 1996 to run its FBR Small Cap Financial fund. And he has done very well at this, with an annualized return of 18% since inception versus 7.2% for the S&P 500. During the depths of the recent bear market he and his bosses at the Arlington, Va. investment bank got the notion that much-battered tech stocks were cheap and due for, a rebound. They also couldn't find a decent tech fund to invest in. So in February 2002, eight months before the market's nadir, Ellison launched FBR Large Cap Technology fund. He has gone on to show that, even though he isn't as steeped in the lore of electronic wizardry as the typical tech fund manager, he really can pick winning tech stocks.
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机译：基金经理大卫·埃里森（David David Elson）在1990年代后期的伟大科技聚会中错过了庆祝活动。彼得·林奇（Peter Lynch）是富达投资（Fidelity Investments）的一名专业人士，专门研究金融公司股票，他在1996年跳槽到弗里德曼·比林斯·拉姆西公司（Friedman Billings Ramsey＆Co.）来经营FBR小盘金融基金。而且，他在这方面做得非常好，自成立以来的年化回报率为18％，而标准普尔500指数为7.2％。在最近的熊市期间，他和他在弗吉尼亚州阿灵顿市的投资银行的老板们意识到遭受重创的科技股价格低廉，因此有望反弹。他们也找不到合适的技术基金来投资。因此，在2002年2月，即市场最低点之前的八个月，埃里森推出了FBR大盘技术基金。他继续表明，即使他不像典型的技术基金经理那样沉迷于电子巫术的知识中，但他确实可以挑选获胜的技术股。
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