He's director of growth strategies for Banc of America Capital Management in St. Louis where he has an unbiased view of the investment action breaking on both coasts. Everyone is talking about the 'new economy' versus the 'old economy' but it's more of a question of productivity versus inflation. That's why you're seeing the run-up in tech stocks at the expense of old economy stocks. The BofA financial analyst expects the tech boom to continue because of a synchronized global economic expansion. Corporate profits are up worldwide and companies are reinvesting those profits in capital spending, which makes the boom even bigger.
Corporate profits are so strong that there is less dependence on the debt market for borrowing.
These corporate giants don't need to borrow money because they're generating it themselves. And at the same time, new companies that had borrowed money to expand are now turning to investors in the red-hot IPO market. The range of the stocks he likes represent both sides of the dual market these days, so I thought he'd be the ideal resource for today's investors. I asked Zimmerman to name his three favorite stocks to buy right now. This company continues to be a generation or two ahead of its competitors in the data and telecommunications field.