Can you say "I'm a stockpicker"? If not, you may miss out on the best opportunities of 2003. The year is likely to bring a rising tide for the economy and financial markets--but it won't lift all boats. So choppy markets and a slow recovery will force you to pick sectors and companies within them with great care. Best bets? Think "dull." Cyclical industrial stocks--including chemical and heavy-equipment makers--should see a strong year.
Abroad, the Old Economy is looking up. Even within sectors, dull may be better: In energy, think coal, not oil. But there are hot prospects in industries with a little more joie de vivre. In media, there's hope that the rebound in TV advertising will spread. Drugmakers see a faster flow of new products from research pipelines.
And after five years of falling capital investment in technology, tech investors have nowhere to go but up--provided they stick with the big names Corporate America depends on. Even for gamblers, selectivity is key: Casinos reachable by car will outpace fly-in resorts. It's that kind of fine focus that could make your portfolio grow.
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Copyright 2002, by The McGraw-Hill Companies Inc. All rights reserved.
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