Pick a fund based on fees and management style, not performance. You don't know if last year's category killer will dazzle again in 2007, but you can be sure that if it charges a 2 percent annual fee it will have a hard time just keeping up with the returns of its benchmark index in the long run.
For solid, reliable funds with low expenses and a consistent management strategy, see the Money 70. Think a manager or sector is sure to stay hot? Okay, but keep that gamble to less than 10 percent of your portfolio.