Gatekeepers - Companies That Can Handle a Slowdown

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"Bruce Bartlett, who oversees various growth-equity funds at Lord, Abbett & Co., has been focusing on companies that can deliver conspicuous profit growth driven by good old-fashioned sales increases -- and not just nimble financial engineering and buybacks that nudge up per-share earnings. Among technology companies, Bartlett believes "gatekeepers" -- those with a product or service others need to expand -- will enjoy keen demand and strong pricing power... As we transition to a slower economy, and as profit growth starts to become scarce, stocks that can deliver above-average growth should begin to command a greater premium," Bartlett says."

From Barron's 4/2/07

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