Despite a huge three-week rally that included a few phenomenal one-day gains, the first quarter was a downer. The S&P and the Dow lost 12 percent and 13 percent, respectively. (Speaking of downers, the WSJ says it will take a 96 percent rise in the S&P 500 just to get back to the high set in October 2007.)
Still, there were some first quarter winners: investors of technology stocks, the BRIC countries (Brazil, Russia, India, and China), municipal bonds, gold, and inflation-protected Treasuries.
A few of the top-performing funds were Fidelity Select Wireless, MFS Technology, Oberweis China Opportunities, and ING Russia, according to Morningstar.