In today's WSJ Fund Track column
, Jed Horowitz
spoke to fund manager Peter Kovalski
about how managers of mutual funds that deal in financial services stocks are coping with the credit crunch. Kovalski, manager of Alpine Management's Dynamic Financial Services Fund
, told Horowitz that managers of these funds can no longer rely on the old buy-and-hold strategy saying, "You can't be married to the stocks you like, and you have to be nimble with trading. You can come in any morning and find your best holding is down a significant amount because of a credit charge-off or something like that."
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