After a difficult fourth quarter, Alfred Maydorn, manager of DAC Internet, said that he was ``relieved`` to be able to deliver some decent first-quarter results to fund holders. He acknowledged, however, that if there was a flight to quality, his fund, which invests in many of the newer tech industries, would probably suffer. ``We do not want much - just stable markets,`` he said.

Maydorn recently took profits in Patriot Scientific, a maker of memory chips whose shares moved from 10 cents to $2 in the first eight weeks of the year. He has retained his stake in Giga Media, a Taiwan online gaming business that also moved up sharply in the first quarter. He also holds shares of Delta 3, a voice-over-Internet telecom company, and Airspan, a wireless Internet stock.

http://www.iht.com/articles/2006/04/14/yourmoney/mfunds.php