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Picking the right tech shares, income from property funds, The Trader

Today's IC daily email update

It seems our scepticism about Facebook has been vindicated. The stock managed to turn in a gain on its first day of trading, but has since sagged below its IPO price. I doubt Mark Zuckerberg is bothered, because if the film 'The Social Network' is anything to go by, money is not really what motivates him. And nor should you be too concerned about the idea of a bubble in technology shares. Yes, there are individual stocks that look a bit frothy, but there's a world of difference between something like Apple, which makes huge profits and has a $100bn cash pile, and some of the profitless dross that floated in 1998 and 1999. And a good fund manager - like Philip Pearson or Anthony Burton, who run the GLG Technology Equity fund - should avoid being over-exposed to such shares.

Staying with funds, Stephen Wilmot looks in detail at whether property funds have been rendered redundant by the advent of Reits, or whether they're still worth buying - especially for the income they generate.

Looking at the stock market, The Trader explains why any recovery in shares is likely to be a "dead-cat bounce" and also examines what the month of June has meant for markets in the past - basically, it's bad for gold and really bad for shares!

As usual, for all company-specific news, check out our comprehensive round-up of tip updates and key company announcements below.