Magazine article Black Enterprise

High-Tech Equals High Returns

Magazine article Black Enterprise

High-Tech Equals High Returns

Article excerpt

Elroi helps Steven Singleton pick winners

It's a brave new world for stock pickers. While in the past investors may have benefited from the sage advice of a financially savvy aunt or brother-in-law, nowadays they can profit from the expertise of an "electronic analyst." Elroi, which stands for Electronic Review of Investments, helps stock-picker Steven Singleton of Oakland, California-based Robert Van Securities deliver top-notch returns to clients. Four of his five stock picks garnered double-digit returns since he recommended them last year, returning a whopping 41.34% total return for the period ("High-Tech Investing," Moneywise, March 1999).

In fact, Singleton, whose picks were based on his growth-stock investment approach, puts technology at the core of that strategy. "It's global information technology that's paving the way to and through the new millennium," he adds.

Ironically, the top performer of the group was retailer Wal-Mart (NYSE: WMT), which soared 67.74%. "The WalMart everything-in-one-place model has done extremely well in 1999, and some major department stores, such as Sears and J.C. Penney, have been victims of its success," he says.

Closely following Wal-Mart was Lucent Technologies (NYSE: LU), which returned 63.88% for the year. "Back then, the theme was the Internet, and we basically chose the plumbing side of it" explains Singleton, referring to Lucent's business of providing the systems and software to cruise the information superhighway. …

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