Reading between the lines

The analyst rumor mill was hot at mid-week with reports that Karen Firestone had stopped management of Fidelity's big biotech and health care funds, and that Dan Wohl already was in place as her replacement. Checking around, Ebb & Flow obtained a letter to a biotech company, signed by Firestone, in which the portfolio manager discusses the future in what some might consider to be lame duck terms.

"We would like to introduce Dan Wohl to you, who will begin following the biotechnology companies as the industry analyst," the letter read. "I am looking forward to working with Dan and having his assistance on the funds...