Can you outperform the market without its biggest, best-known names? That is the self-imposed charge of with Kevin Landis, founder of Firsthand Funds. The firm’s Firsthand Technology Opportunities Fund (TEFQX) gained 102% over the past 12 months, which is impressive enough; But Landis accomplished this without many of the biggest market drivers of 2020: No Apple, Amazon, Tesla, or Netflix. The fund was created in 1999, and has gained 21.1% annually over the past 10 years vs 13.9% for the S&P500 and 18.5% for the Nasdaq Index. Landis explains “You don’t need me to tell you to own Microsoft. What value do we add owning Apple, one of the most widely held stock in the world?” Instead, he sees his role as seeking out new technologies and business models that will shape the future of the economy generations hence. The key questions to be asked: “Just how big can this market become? How big is this opportunity? When a company is in the right place at the right time, on the right track, the question is: How high is up?”