Aug. 9 (Bloomberg) -- Nanotechnology is spurring a revolution in electronics and medicine. Investors seeking to benefit from the boom may need a lot of luck, as they did during the Internet bubble of the 1990s.

Nanogen Inc. [profile], one of 25 companies in the Merrill Lynch Nanotech Index that manipulate particles smaller than 100 nanometers, has slumped since May. A nanometer is one-billionth of a meter.

"I'm scared of anybody with nano in their name," said Kevin Landis, who manages about $700 million at Firsthand Capital Management in San Jose, California. "With any new wave of technology, there's ample opportunity to invest in companies that don't end up being the winner."