Favorites in an "Extreme" Market


Q: Do you see the markets bouncing back in 2003 -- or are we in for a fourth consecutive down year?

A: While many skeptics believe 2003 will be another down year, I'm optimistic that a late fourth-quarter rally might take the averages to the upside...a quick and decisive victory with any military strike is one possible scenario for a potential recovery. The other possibility, which looks promising, is corporate earnings increasing from the levels of the last 12 months. All in all, I believe the Dow and S&P have the potential to rise 10% [each] by yearend.

Q: What are your thoughts on the AIDS vaccine that VaxGen (VXGN ) is trying to develop?

A: I believe the firm is well on its way to getting major approvals from both the medical community as well as investors. The company has limited competitors in this field, and its partnership with Genentech (DNA ) could be very profitable. VaxGen does not only have an AIDS vaccine, it may also capitalize on an anthrax vaccine. And in today's crazy world of terroris


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