To select stocks, he looks for what is cheap, instead of hot companies with rapid earnings growth.

A. The top-down style of selecting stocks, where you analyze country, industry and then go down to the stock level, probably becomes irrelevant.

This ability allows greater ease of selecting compatible stocks.

And perhaps most important is the developing shift to a new investing style that selects stocks by sector rather than by country.

Income or value based investment tends to select stocks with strong income streams, often more established businesses.

Most portfolio managers say the introduction of the euro will force investors to take a broader approach when selecting stocks.

After that, selecting stocks is a matter of formula.

Obviously, in selecting stocks they are looking at many factors.

Few could have lost by selecting stocks in the S.& P. 500.

You'll need at least a dozen carefully selected individual stocks to be truly diversified.