From Barron's 2-5-07 issue: Mobile Internet Pick "We hunted around to find a company that could capture the Internet-going-mobile theme and found a semiconductor company called Anadigics [ANAD]. They're in the sweet spot of 3G cellular, Wi-Fi and WiMAX. They have the reference design wins at Qualcomm [QCOM] for 3G phones and Intel [INTC] for Wi-Fi and WiMAX chip sets. On top of that, they are also a play on video-over-Internet as they make the chips for the video infrastructure for Cisco Systems' [CSCO] Scientific-Atlanta division, and they also make chips that go into the advanced set-top boxes of Motorola. Anadigics is a small-cap pure play on some of the biggest trends we can find. It has 45.2 million shares outstanding and trades at about $9 a share for about a $400 million market cap. They have got a good balance sheet with a dollar a share of net cash. There is very little Wall Street coverage, which we think is great. We own about 11½% of the company, so we are believers."

From Barron's 2-5-07 issue: Takeout Candidate "EchoStar Communications [DISH], which I think is a great play on a possible takeout. The stock is attractive on a fundamental basis at current levels. It is trading at 7.7 times '07 Ebitda [earnings before interest, taxes, depreciation and amortization] and 6.7 times '08 Ebitda, and the Ebitda should grow at about 18% in '07 and 15% in '08. EchoStar should generate about $2.50 of free cash flow per share in '07. Based on the $40 where it is currently trading, it is at 16 times free cash flow. The company is executing really well; in the September quarter they put up one of the best quarters they've ever delivered."

From Barron's 2-5-07 issue: Alternative Energy Pick "The solar space is an area that is going to be a huge growth industry for many years to come. Yet a constraint on solar's growth is a shortage of polysilicon. Polysilicon is a critical component in solar cells. Polysilicon is also what semiconductor wafers are made of. One of the leading polysilicon producers in the world is MEMC Electronic Materials [WFR]." "We think they are going to earn $3 a share in 2007 and $4 a share in '08. That puts the stock at 17 times '07 earnings and 13 times '08 for a company that is growing 45% in '07 and 33% in '08. MEMC is trading at what we consider to be a very significant discount to both the semiconductor industry as well as its own unbelievable growth rate. That is because historically it has been a company with extreme earnings volatility through up and down cycles."

From Barron's 2-5-07 issue: Emerging Market Pick "Sify [SIFY] is a play on the Internet and Internet infrastructure of India. It is a restructuring story. The last couple of quarters have been a little choppy, but beginning in June, they hope to see some acceleration in earnings. That said, they still doubled their Ebitda from '05 to '06. They figured out a long time ago that most people in India don't have a PC, so they built Internet cafés. They have 3,552 Internet cafés. The No. 2 player is Reliance with 240 cafés, and there is no No. 3. Sify has leveraged their Internet cafes to create several portals like SifyMax.com, which is the leading broadband portal in India, and Sify.com, which is an e-commerce and mobile-game portal." "Sify trades at $7.60. They've got $53 million in cash. They generated $13 million in Ebitda in '06. We think that will increase to around $20 million in '07. It is trading at 13 times '07 enterprise value to Ebitda. This is not something you put all the college savings into. But on a multiyear basis, this could appreciate very, very significantly."