Growth Industries

Now is a great time to be looking at growth stock candidates, believe it or not, the risk is much greater at a market bottom than at a market top. Now is a great time to be cherry picking stocks that you think will be home-runs in the future, and with already depressed prices you can better diversify and have a better chance at picking the next Microsoft. I have 3 picks of what I feel will be great growth candidate industries:
1. Companies that are in the market of developing "products" using stem cells; such as STEM. Stem cell research is the wave of the near future. Companies are aggressive trying to find ways to use stem cells to clone organs; Imagine a world where you can smoke as many cigarettes as you want with impunity, knowing full well when you get a malignant tumor you can simply go to the 'stem cell store' and have a cloned lung replace your old worn out one. What would people pay for something like this? The answer is "whatever it costs". It is very difficult to put a price tag on longer and healthier lives, and people will be willing to spend whatever it costs to prolong their existence. Stem Cell research has been set back 8 years (thank you W.) but now these companies are going to be quickly making up for lost time. Stem Cell companies make a great choice for a Growth stock Candidate.
2. Companies that our going to be involed with make Medical Electronic records is also going to be a winner, check out http://en.wikipedia.org/wiki/Electronic_Medical_Records for an idea of the companies that service this field. President Obama is making it his goal to have all American medical records be electronic by 2012. Will this happen? Most likely. The question is what companies are going to benefit the most from this system going online. That I don't have an answer for unfortunately, but with a little research you can make your own best guess as to which is more likely to succeed (If you don't feel like doing that much work, don't worry, I am in the proccess of making a list of my favorites that will be the subject of another post.)
3. My last choice for a groth industry, and the one you may say "eh I don't think so", is companies with the rights to Carbon Nanotubes (as of right now IBM is the biggest one that comes to mind). What are Carbon Nantubes you may ask? Essentially it is a Ultra-high strength and light weight material which is also heat resistant. Carbon Nanotubes (CNTs) can be used in lots of practical situations, but the one thing that they me best at is if SPACE TRAVEL ever becomes routine. No I am not referring to Star Trek style space travel, but rather airliners that travel to the edge of outerspace in order to travel significantly faster than planes flying at convential altitudes. CNTs can make this a reality as the biggest obstacle to space flight is both the going up, and the re-entry. Because CNTs are so lightweight it will be much easier to get to outerspace at a lesser fuel cost than is currently demanded; and because they are ultra-resitant to heat, re-entry would become quite easy and there will be less worry about being scorched on the return trip. Is space travel the next big thing, well I hope so, and if I'm right I'd love to profit off it.
Stem Cells, Electronic Medical Records, and Carbon Nanotubes are the 3 growth industries that I am looking to invest in for my long term portfolio. I believe you too would be wise in doing the same thing. I have intentionally been vague on giving actual stock selections as I myself have not completed my research and don't know which stocks I am going to invest in yet. As I get more in depth with my analysis I will post some more specific choices, but I urge you to go out and look up some of these options on your own.
Good Luck!